Flipbook_College_2017 - page 6-7

Typical Student Budgets
Tuition, fees, room, and board account for a large
percentage of college costs. However, there are other
significant expenses to consider, including books and
supplies, transportation, and miscellaneous expenses.
This chart illustrates the average estimated cost of
attendance at four-year public and private colleges and
universities for the 2016–17 academic year.
$4,520
$33,480
$11,890
$3,950
$9,650
$10,440
annual cost
$49,320
$24,610
Public 4-year
in-state, on-campus
Private nonprofit
4-year, on-campus
Rising College Costs
$45,370
$20,090
$63,812
$56,954
$50,833
$30,400
$26,480
$23,065
Private
Public (in-state)
(in 2016 dollars)
Sources: College Board, 2016; National Center for Education
Statistics, 2016
Books, transportation, & other expenses
Room & board
Tuition & fees
Over the past decade, the average annual cost of tuition, fees, room, and board at
four-year public colleges and universities rose by 2.8% annually
above
the rate of
general inflation. The cost at four-year private schools has risen at a somewhat slower
pace (2.3%) but remains substantially higher than public institutions.
What will college cost for your child? The chart below projects the annual inflation-adjusted cost of
tuition, fees, room, and board if they continue to grow at the same rates as they have over the past decade.
$10,000
$60,000
$80,000
$70,000
$50,000
$40,000
$30,000
$20,000
$0
Source: College Board, 2016
annual cost
These costs are for one year.
Without accounting for
inflation, four years of college might cost:
$98,440 at a four-year public college
$197,280 at a four-year private college
Also consider that it may take more than four years
to complete a college degree. In fact, only about 40%
of students graduate from college in four years.
2016–17
2031–32
2026–27
2021–22
2036–37
$71,496
$34,901
1,2-3,4-5 8-9,10-11,12-13,14-15,16-17,18-19,20
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