College Search: College Costs
Postsecondary education is a major American industry. A greater proportion of students pursue postsecondary education in the United States than in any other industrialized country. Annually, more than 13 million students study at over 8000 institutions of higher learning. The diversity of our system of higher education is admired by educators and students throughout the world. There is no reason to believe that this system will change in the future. However, college costs and the resources available to parents and students to meet those costs have changed.
Unfortunately, many high school students and their parents believe either that there is no financial aid available or that they will not qualify for any type of financial assistance from any source. Neither assumption is correct. College costs have increased and will continue to increase. Federal allocations, for some financial aid programs, have decreased. But this decline has been met with generous increases in financial aid from state and school sources.
American students and their parents should realize that they must assume the primary role in planning to meet their future college costs and that the family financial planning process must begin much earlier than has been the case.
COLLEGE COSTS
- Nearly all parents believe college costs are too expensive.
- Currently, the average cost of education, including tuition, fees, and room and board for one year at a public college would have been about $10,000 and for a private college and university, the total cost could have exceeded $20,000.
- While college costs will increase each year, it is important to remember that currently nearly 3/4 of all college students attend schools with tuition costs below $10,000.