College is a great way to expand your education and go into a career you love. But, it’s also really expensive. According to U.S. News Data, in-state tuition has risen 79% over the last 14 years. And that’s only in-state.
The truth is the cost of your college education depends on where you go. That’s why it’s more important now than ever to be well-informed about the cost of college.
What is Included in the Total Cost of College?
Although tuition makes up a very big part of the cost of college, there are many other things that go into it. You’re also looking at paying for room & board, books, supplies, and other expenses like food, gas, and leisure.
Average Cost of Tuition
Tuition makes up the largest portion of college costs. The average cost of tuition at a 4-year public college is $28,7751 per year. Across 4 years, this adds up to over $100,000. The price of tuition also includes fees. Universities will present the fees in different ways. Some may include it in the tuition while others mark it as a separate fee. You can find this information on their website.
To reduce the amount you’ll have to pay, look into scholarships and grants. You can start your search by using scholarship search engines like FastWeb or Niche. Also, make sure to fill out the FAFSA for each year you’re in school. This will help you get federal grants like the Pell Grant or the Cal Grant. Be sure to check out institutional grants and scholarships that your school offers as well. Finally, check if you can transfer your AP credits. This might save you money and time. Check with your school and the College Board for more information.
Average Cost of Room & Board
The average price of room and board is anywhere between $9,395 to $12,5401 per year. This is dependent on whether you go to a public school or a private school. On average, a public four year institution will be $9,395. A private institution will be $12,540. These prices sometimes can cover your dining or meal plan, too.
To reduce these costs, think about living off-campus and commuting. If you can find roommates to split the cost of an apartment, you’ll be able to bring down your housing expenses. This will often be a lot cheaper than living on campus. Then, all you have to do is commute to school. If you don’t have a car, you can carpool or take public transportation to campus. Many city transit systems offer bus and train passes at a reduced price to college students.
Average Cost of Books & Supplies
Books and supplies make up the smallest portion of the total cost, but they can still get pricey. On average, books and supplies will cost you $1,2911 per year. The cost of this category will depend on your classes. Some may require buying textbooks while others offer textbooks for free.
To get that price down, looking into buying used books. You can get these from sites like Chegg and SlugBooks. You can also rent your textbooks or borrow them from a friend. Online books may even be cheaper than physical textbooks, and you won’t have to carry them around.
You’ll also want to look into scholarships and grants for books and supplies, too. You want to get as much financial aid as you can to bring down the tuition price. But, you can use the smaller scholarships and grants for books and supplies.
Average Cost of Additional Expenses
Additional expenses can range anywhere from $2,733 to $6,0221. A lot of the cost for this category will be dependent on you and the cost of living in your area. After all, you now have personal and daily living expenses to pay for. Learn to be more mindful and intentional with your money. Budgeting can help you do this.
Additionally, some businesses and services offer reduced prices and deals to college students. Look into those to save money while still having fun. There’s nothing wrong with spending or having fun, but be mindful about where your money is going.
Average Cost of Different Programs
The overall cost of college will also depend on the type of school you choose to attend, as well as the length of the program you choose. From least to most expensive, there’s community college, public college, and private college. Typically, 2-year institutions will be cheaper than 4-year institutions. When it comes to private schools, for-profit schools cost less than nonprofit schools. While all the different programs and schools are great options, knowing the cost is key to making a decision.
| Average Cost Per Year | How Long the Program is (In Years) | Total Cost Over Time | |
| Community College | $3,7302 | 2 years | $7,4602 |
| Associate’s Degree | $10,9503 | 2 years | $21,900 |
| Bachelor’s Degree | $35,331 | 4 years | $152,9221 |
How Do I Use a Tuition Calculator?
Usually, the school’s sticker price isn’t what you end up paying. You’ll pay the net price. The net price is how much you owe after financial aid. Until you get that information, it can be hard to figure out what you will actually pay. That’s why tuition calculators are such great tools. They estimate what your net price will be. You can find tuition calculators on the College Scorecard. Simply search for the school you plan to attend to view the tuition information.
Final Thoughts from the Nest
College can get really expensive, really quick. That’s why it’s important to know the cost of college. Although your net price can come out to be a lot of money, there are plenty of ways to reduce the costs. If you still need help paying what you owe, turn to Sparrow for help in finding private student loans. Just fill out the application to see what you can qualify for at 15+ lenders.