Average Cost of College Education

Average Cost of College Education Computing the Average Cost of College Education You can find a cost average by identifying the specific factors associated with your desired college degree. While that may sound confusing, it doesn’t have to be. To determine an average, you need a list of associated costs. In the case of a college education, you need to answer the following questions: Related Articles Why You Should Pay for College Yourself Why You Should Pay for College Yourself How Much Does It Cost to Go to College Online? How Much Does It Cost to Go to College Online? Should Governments Help Pay for College Should Governments Help Pay for College Will I live on campus or off? Will I be a full-time or a part-time student? Do I have a family to support? Do I have a full-time job or career? Do I plan to attend a state university, a two-year junior college, an online college, or a private university? Are my books hard copies of textbooks or e-books? What other supplies will I need to complete class assignments (i.e. art supplies, computer software, etc)? Answering the above questions will determine the costs that will influence your average total price. According to the College Board’s Trends in College Pricing 2010, the following averages apply to the cost of college education: Four-year public colleges: Average tuition is $7,605 per year for in-state students; out-of-state students pay around $11,990 per year. Private four-year colleges: Average yearly tuition is $27,293. Two-year colleges: Average yearly tuition is $2,713. The average cost of an online college d egree varies widely based on the institution from which you take courses. The University of Phoenix, for example, is among the most expensive of the online universities, somewhat comparable to a private four-year university. Many state and local colleges are adding an online or distance learning component to their degree programs. Northern Virginia Community College, for example, is a two-year college that offers distance and online learning classes with the same tuition structure as on-site classes. Compiling Costs Private and state universities are alike in offering on-campus housing for four-year, full-time students. Housing costs are an addition to the base tuition, but a good rule of thumb is that housing costs about 1/3 of overall tuition, and fees and books will make up about 20 percent of the total amount. So in the case of a private university, a student paying average costs for everything might owe a total of $161,500. Including housing costs, books, fees and tuition, a four-year public university would average a student about $46,500 for a bachelor’s degree. The costs are all based on a 2010 pricing average, and inflation will likely result in rising costs on a yearly basis.