Price for College

Hey all, I've been seeing a ton of posts about the cost of college and I'm a bit lost. What's the average price most students end up paying for college? I know it varies, but just looking for a ballpark. Is this the 'sticker price' everyone keeps talking about? Thanks!

Hi! Good question. When you hear 'sticker price,' that's the total cost of attending a specific institution before financial aid or scholarships are factored in. It usually includes tuition, room and board, books and supplies, and other miscellaneous fees like transportation and personal expenses.

Nationwide, the average tuition for a four-year, in-state public college is about $10,560. For out-of-state students at public colleges, the average price is around $27,020. Private colleges tend to be the most pricey, with an average tuition of $37,650. Don't forget to add in the other costs too, which can push the total cost per year closer to $20,000 at public colleges and upwards of $50,000 at private schools.

However, do keep in mind that not everyone pays the sticker price. The majority of students receive some form of financial aid, whether it's from the federal or state government, the college itself, or some other source. For example, the "net price" is the amount a student pays after scholarships and grants are subtracted from the total cost. The nationwide average annual net price is about $14,999 according to the National Center for Education Statistics.

It's also important to note that student loans are a form of financial aid, but since those need to be paid back, they don't reduce the net price. When you're researching the cost of college, take a look at the 'net price' not only the 'sticker price' to get a clearer understanding of what you might pay out-of-pocket. You can use net price calculators provided on many colleges' financial aid websites to get an estimate of your costs. Hope this helps!