Maryna Terletska/ Getty Images; Illustration by Austin Courregé/Bankrate
Key takeaways
- Students are paying $11,610 per year on average in tuition and fees at public, in-state schools, and $30,780 for out-of-state undergraduates, according to the CollegeBoard.
- The average cost of college has skyrocketed in the last 30 years.
- The average cost of college is based on the type of institution, in-state vs. out-of-state students, and other expenses.
Where you go to school matters, whether you’re staying at an in-state institution; a private, for-profit university; or a local, two-year college. When you add room and board, books and other expenses to the mix, that bill goes up several thousand dollars more.
The cost of college in the U.S. has tripled over the last three decades — and things don’t seem to be slowing down, especially now that sky-high inflation is making everything more expensive.
Key college cost statistics 2024-2025
- The average annual cost of tuition and fees at a public, four-year university for out-of-state undergraduates is $30,780 per year.
- When adding in other costs like housing, supplies, transportation and other expenses, in-state students paid $29,910 per year and out-of-state students paid $49,080 for the full cost of college per year.
- Students going to private institutions paid $62,990 in tuition, fees, housing, food, supplies, and other expenses.
- Commuter students paid $20,570, but only $4,050 was towards tuition and fees.
How much does college cost?
The net price for college depends on the type of institution and where it’s located. Private colleges are usually the most expensive option because public schools receive funding from the federal government, whereas private colleges receive most of their funding through tuition payments and private donations.
Beyond tuition and fees, the cost of attendance includes housing (whether that’s on-campus or off), food, transportation, books and supplies, and other expenses. Commuter students at a two-year college might pay more in transportation and other expenses, but they pay significantly less when it comes to tuition.
Average estimated full-time undergraduate budgets by sector 2024-2025
| Key points | Public two-year in-district commuter | Public four-year in-state, on-campus | Public four-year out-of-state, on-campus | Private nonprofit four-year, on-campus |
|---|---|---|---|---|
| Tuition and fees | $4,050 | $11,610 | $30,780 | $43,350 |
| Room and board | $10,390 | $13,310 | $13,310 | $15,250 |
| Books and supplies | $1,520 | $1,290 | $1,290 | $1,290 |
| Transportation | $2,010 | $1,340 | $1,340 | $1,150 |
| Other expenses | $2,600 | $2,360 | $2,360 | $1,950 |
| Total | $20,570 | $29,910 | $49,080 | $62,990 |
| Source: CollegeBoard |
The reason the cost of college is high could be for a number of reasons. Public universities receiving less state funding need to make up the difference by charging students more. Operating costs also come out of those tuition dollars and get spread out campus-wide, and those costs aren’t going down either.
Average cost of college by state
The average cost of public universities and colleges varies by state. The size of the state, the population and the number of colleges are all factors that impact the average cost of college.
State average undergraduate college tuition and fees 2022-2023
| State | Public two-year (in-state) | Public two-year (out-of-state) | Public four-year (in-state) | Public four-year (out-of-state) | Private four-year |
|---|---|---|---|---|---|
| Alabama | $5,039 | $9,432 | $11,081 | $28,315 | $17,687 |
| Alaska | N/A | N/A | $8,291 | $24,410 | $20,148 |
| Arizona | $2,160 | $7,444 | $11,768 | $28,506 | $13,485 |
| Arkansas | $3,657 | $5,151 | $8,879 | $23,091 | $24,798 |
| California | $1,286 | $9,338 | $8,637 | $32,967 | $42,017 |
| Colorado | $3,426 | $7,527 | $9,798 | $32,476 | $27,474 |
| Connecticut | $4,758 | $14,176 | $15,763 | $37,907 | $44,931 |
| Delaware | N/A | N/A | $11,922 | $33,812 | $12,154 |
| District of Columbia | N/A | N/A | $6,152 | $13,004 | $47,066 |
| Florida | N/A | $9,111 | $4,540 | $17,831 | $30,928 |
| Georgia | $3,134 | $8,259 | $7,075 | $24,331 | $32,114 |
| Hawaii | $3,227 | $8,400 | $10,484 | $32,769 | $21,851 |
| Idaho | $3,361 | $8,243 | $7,640 | $25,404 | $6,970 |
| Illinois | $4,249 | $11,693 | $14,921 | $30,027 | $37,646 |
| Indiana | $4,637 | $8,927 | $9,886 | $30,448 | $37,987 |
| Iowa | $5,583 | $6,897 | $10,121 | $29,072 | $37,623 |
| Kansas | $3,645 | $4,826 | $9,274 | $23,713 | $31,116 |
| Kentucky | $4,588 | $15,502 | $11,299 | $26,640 | $28,001 |
| Louisiana | $4,367 | $5,085 | $9,843 | $23,573 | $44,485 |
| Maine | $3,779 | $6,658 | $10,813 | $30,244 | $38,972 |
| Maryland | $4,408 | $9,878 | $10,041 | $26,721 | $48,240 |
| Massachusetts | $5,564 | $10,635 | $14,345 | $34,245 | $53,789 |
| Michigan | $3,963 | $7,493 | $14,718 | $41,324 | $33,385 |
| Minnesota | $6,049 | $6,790 | $12,873 | $26,719 | $35,914 |
| Mississippi | $3,688 | $6,233 | $9,120 | $21,531 | $20,042 |
| Missouri | $4,077 | $7,613 | $9,926 | $23,932 | $30,660 |
| Montana | $3,950 | $9,726 | $7,299 | $28,682 | $31,464 |
| Nebraska | $3,408 | $4,308 | $8,862 | $21,539 | $26,002 |
| Nevada | N/A | N/A | $6,723 | $24,443 | $24,246 |
| New Hampshire | $7,108 | $15,348 | $17,019 | $33,850 | $19,557 |
| New Jersey | $4,981 | $8,558 | $15,265 | $30,271 | $40,366 |
| New Mexico | $1,923 | $6,612 | $7,526 | $21,842 | $27,340 |
| New York | $5,755 | $9,145 | $8,575 | $20,637 | $46,280 |
| North Carolina | $2,527 | $8,522 | $7,327 | $23,155 | $40,176 |
| North Dakota | $5,610 | $6,642 | $9,728 | $14,687 | $16,990 |
| Ohio | $4,630 | $8,297 | $10,922 | $27,441 | $37,610 |
| Oklahoma | $4,413 | $9,919 | $8,519 | $22,928 | $31,140 |
| Oregon | $5,376 | $9,154 | $12,424 | $35,960 | $47,224 |
| Pennsylvania | $5,717 | $13,177 | $16,217 | $31,844 | $47,222 |
| Rhode Island | $5,090 | $13,552 | $14,744 | $33,879 | $49,792 |
| South Carolina | $4,987 | $10,498 | $12,604 | $33,346 | $28,730 |
| South Dakota | $7,412 | $7,257 | $9,079 | $12,987 | $28,687 |
| Tennessee | $4,440 | $17,258 | $10,437 | $24,920 | $31,885 |
| Texas | $2,931 | $7,863 | $8,195 | $24,743 | $40,142 |
| Utah | $4,257 | $13,701 | $7,215 | $23,108 | $8,123 |
| Vermont | $6,920 | $13,640 | $17,600 | $41,900 | $50,094 |
| Virginia | $5,220 | $11,511 | $14,825 | $37,730 | $24,043 |
| Washington | $4,623 | $8,295 | $8,006 | $30,444 | $42,339 |
| West Virginia | $4,600 | $10,776 | $8,715 | $23,521 | $12,133 |
| Wisconsin | $4,656 | $6,686 | $8,974 | $29,256 | $37,686 |
| Wyoming | $4,192 | $9,990 | $5,100 | $15,215 | N/A |
| Source: National Center for Education Statistics |
Average cost of college by university
The school that you attend is the biggest factor in determining how much student loan debt you could end up with. Generally, the more prestigious and well-known the university, the more expensive it will be. The following tables show the cost of college of well-known and flagship universities, respectively.
Average cost of college at prestigious universities 2023-2024
| University | Location | Cost of undergraduate tuition (in-state) | Total expected costs (in-state) |
|---|---|---|---|
| University of California, Berkeley | Berkeley, California | $15,602 | $46,168 |
| Yale University | New Haven, Connecticut | $64,700 | $83,880 |
| Princeton University | Princeton, New Jersey | $59,710 | $83,140 |
| Stanford University | Stanford, California | $61,731 | $87,833 |
| Columbia University | New York City, New York | $68,400 | $89,587 |
| Massachusetts Institute of Technology | Cambridge, Massachusetts | $59,750 | $82,730 |
| Harvard University | Cambridge, Massachusetts | $54,269 | $82,950 |
| University of California, Los Angeles | Los Angeles, California | $14,487 | $38,517 |
| University of Pennsylvania | Philadelphia, Pennsylvania | $58,620 | $89,028 |
| Northwestern University | Evanston, Illinois | $64,887 | $91,290 |
Average cost of college at flagship universities 2022-2023
| University | Estimated in-state undergraduate cost of attendance | Estimated out-of-state undergraduate cost of attendance |
|---|---|---|
| University of Alaska Fairbanks | $20,520–$21,450 | $38,190–$39,120 |
| University of Alabama | $32,054 | $53,364 |
| University of Arkansas | $28,300 | $46,054 |
| University of Arizona | $31,650 | $58,050 |
| University of California: Berkeley | $49,304 | $80,330 |
| University of Colorado at Boulder | $33,466 | $61,312 |
| University of Connecticut | $38,670 | $61,750 |
| University of Delaware | $32,444 | $54,964 |
| University of Florida | $21,810 | $44,088 |
| University of Georgia | $27,542 | $47,416 |
| University of Hawaii at Manoa | $30,331 | $52,363 |
| University of Iowa | $26,883 | $48,846 |
| University of Idaho | $22,846 | $42,082 |
| University of Illinois at Urbana-Champaign | $33,558–$38,744 | $51,870–$59,556 |
| Indiana University: Bloomington | $27,456 | $55,128 |
| University of Kansas | $27,086 | $44,290 |
| University of Kentucky | $33,150 | $53,546 |
| Louisiana State University | $33,982 | $50,659 |
| University of Massachusetts: Amherst | $31,728 | $52,948 |
| University of Maryland: College Park | $29,636 | $57,872 |
| University of Maine | $27,412 | $49,552 |
| University of Michigan | $33,555–$35,655 | $72,153–$76,031 |
| University of Minnesota: Twin Cities | $31,348 | $52,088 |
| University of Missouri: Columbia | $29,636 | $48,808 |
| University of Mississippi | $27,910 | $45,130 |
| University of Montana | $25,534 | $48,936 |
| University of North Carolina at Chapel Hill | $25,258 | $54,352 |
| University of North Dakota | $10,951 (tuition and fees only) | $15,570 (tuition and fees only) |
| University of Nebraska: Lincoln | $27,064 | $44,194 |
| University of New Hampshire | $35,350 | $55,010 |
| Rutgers University: New Brunswick Campus | $36,271 | $54,483 |
| University of New Mexico | $27,471 | $43,777 |
| University of Nevada: Reno | $28,136 | $44,678 |
| State University of New York at Buffalo | $27,294 | $37,204 |
| Ohio State University: Columbus Campus | $26,451 (tuition and room and board only) | $50,688 (tuition and room and board only) |
| University of Oklahoma | $33,250 | $49,817 |
| University of Oregon | $33,639 | $61,275 |
| Pennsylvania State University Park | $34,659.48 | $53,475.48 |
| University of Rhode Island | $29,464 (tuition, fees, room and board only) | $47,946 (tuition, fees, room and board only) |
| University of South Carolina | $34,700 | $55,940 |
| University of South Dakota | $18,856 | $22,366 |
| University of Tennessee: Knoxville | $32,678 | $51,098 |
| University of Texas at Austin | $29,406–$32,346 | $57,420–$65,268 |
| University of Utah | $27,386 | $40,034 |
| University of Virginia | $36,098–$47,994 | $72,250–$86,050 |
| University of Vermont | $35,806 | $61,132 |
| University of Washington | $32,464 | $60,962 |
| University of Wisconsin: Madison | $27,920 | $57,052 |
| West Virginia University | $21,002 (tuition, fees, room and board only) | $38,186 (tuition, fees, room and board only) |
| University of Wyoming | $23,266 | $38,416 |
Bottom line
Since the cost of college has shot up in recent decades, research what grants and scholarships may be available to help you offset costs. If after exhausting all your financial aid options you find that you still need aid, research private student loan options.
Read the full article here
