Estimating the average college tuition is not an easy task. Numerous factors go into consideration, including location, type of college, length of the degree and even your geographical location at the time of enrollment. Prices also vary widely between public and private schools.
1. Geography: College costs are different for in-state and out-of-state residents. The standard difference is about 100 percent higher for those who are not residents of the state in which they study.
2. Identification: Estimating the average college tuition takes some work, as prices vary considerably from state to state. Vermont ($15,426), New Jersey ($14,853) and New Hampshire ($14,343) have the highest college tuition fees in the country, while the lowest go to a few states in the South and Midwest, including Oklahoma ($8,295) and Kansas ($9,068).
3. Features: The average tuition for a four-year public college stands at $12,796 as of September 2008. According to national statistics, however, over 50 percent of the students in four-year colleges are paying less than $10,000 a year for tuition. Two-year colleges or junior colleges are considerably cheaper, sometimes up to 50 percent less. Private colleges, on the other hand, rank much higher on cost, coming up to an average of $25,143 per year for a four-year college. Community colleges may be the best bet for those who are on a tight budget. A credit hour at Pratt Community College in Kansas costs $29, while an hour at the University of Kansas (state college) will run about $300.
4. Expert Insight: Rates for college tuition go up an average of 5.9 percent a year. That includes only the actual education and does not take into consideration additional costs, such as room and board (a 5 percent growth per year). In 2005, however, there was a remarkable hike in tuition, and some colleges, such as the University of Colorado, increased their prices up to 27 percent.
5. Potential: The five most expensive colleges in the U.S. are, in order: George Washington University (Washington, D.C.), University of Richmond (Virginia), Sarah Lawrence College (New York), Kenyon College (Ohio) and Vassar College (New York). All cost upward of $36,000 for the 2007-08 year. Some of these colleges were not in the list just a year earlier. The University of Richmond, for example, charged a tuition of less than $25,000 in 2006, which makes for a tuition increase of more than 30 percent in a single school year.
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