Determining the Costs of College

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How much does college cost? This question is tricky because it depends on the college you will be attending, as well as when you will be attending. Here are some important factors to consider.

Private vs. Public

The tuition at private colleges is more than double the tuition of a public college. According to the College Board, the cost of a year's tuition in 2018-2019, plus room and board, averaged $36,890 for private colleges and $26,290 for public colleges.

Inflation

It doesn't matter is you will be attending a private or public university, the cost of tuition goes up every year. Many financial experts estimate that the cost of college will increase at approximately 6% each year over the next 10 years.

Financial Aid

Just thinking about the rising costs of college tuition is enough to make your head spin. Before worrying that you will never be able to afford a year's worth of college tuition, let alone four years, consider these two words: financial aid.

Financial aid is available to those who need it. And, the good news is that there is a lot of it. Grants, scholarships, student loans, and work-study programs, will help to cover the cost of college. All you have to do is educate yourself in regards to how aid works and how you can get it.