Hello and welcome back to Los Fizz. In todays post i wanted to share some facts about the cost of attendance in the U.S for colleges and universities. Along with adding numbers i have also gathered a list of the top ten schools in the United States based on enrollment. I'll be giving you the average cost of attendance for those schools, for you to compare and get an idea of what to expect when you're applying for higher education.
Collegeboard.org reports For the 2014-2015 school year, the average cost of tuition and fees were:
- 31,231.00$ for Private four (4 ) year college
- 22,958.00$ for Public four (4 ) year Out of state
- 9,139.00$ for Public four (4 ) year In state
- 3,347.00$ for Public two ( 2 )year college in district
Keep in mind this is per year.
IN STATE V.S OUT OF STATE
So you're thinking about going to school out of state?
Did you know that attending a school out of the state of which you are a resident can cost you on average 8,890.00$ more per year? According to GW ( Graduate School Of Education & Human Development ) that is what the average student paid for the 2010-2011 school year.
Students can expect to pay anywhere between 30-60% more on tuition and fees if they decide to leave their home state. But why is that?
Typically that is due to the fact that a lot of higher education institutions are funded by the states in which they reside through tax payer dollars.
However don't get discouraged -
there are many loop holes when it comes to this topic. For example, students from neighboring states such as; Texas, Louisiana, Mississippi, Missouri, Kansas, Oklahoma & Tennessee can get up to 90% off of their Out of state tuition costs if they meet certain academic criteria. The above example is one of a "common markets" offering a discounted tuition rate. The next example is also "Common Market" except that it is one that offers students a chance to attend an out of state college or university and not have to bare the additional costs of being a non resident.
This is because neighboring states set up a system where students can move freely within their market at ease. ( i.e New England Market. ) ( Not all institutions in these markets participate )
Another way to get out of state tuition and fees reduced to in state is by simply bearing the costs for one year, until you have become a resident of that state. Once you have become a resident of that state you can provide your institution proof and have the tuition and fees reduced. However keep in mind not all institutions allow this.
If you're really slick you can surrender your drivers license or set up and address before you move and speed up the process.
ACTUAL PRICE V.S ADVERTISED PRICE
According to Collegeboard the advertised price of tuition and fees V.s what students will actually pay is usually lower. Take for example the 9,139.00$ for Public four (4 ) year In state figure. That is an advertised figure, and what students actually pay on average is 3,030.00$
Why is that?
Thats because of grants, education tax benefits and scholarships.
GRANTS V.S LOANS
What are grants? what are loans? Whats the difference?
If you receive a grant based off of financial need, that is money you'll receive to help pay for your tuition and fees, and does not need to be paid back
A loan, is simply put... A LOAN.... that needs to be paid back. Whether it comes from a federal institution or a private bank.
Do i qualify for a grant or a loan?
I don't know. Better answer is, i don't know because i don't know your financial situation. The best thing for you to do is to sit down with your parents ( if you're under 25 years old ) and gather all of their financial information including tax returns, and fill out a FAFSA application, a grant application from the school you wish to attend and if need be, an application from a private bank.
Not everyone will qualify for a grant, or a loan so be sure to shop around and get information on this ahead of time to ease your enrollment process.
Scholarships are great!... if you qualify for them. There are hundreds of thousands, even millions of dollars that go unclaimed each year in scholarships. Scholarships come in the form of just about anything in terms of how to qualify, the amount you'll be rewarded and how they could be used for higher education.
Never underestimate a scholarship. It may sound intimidating and you may think you'll need to write a novel or win the nobel peace prize just to get one. The truth is you can get a scholarship for just about anything, like getting accepted into a school... i.e " First Year Students" or maintaining a 3.5GPA in a Marketing intended program.
Once you've obtained a scholarship you can use it for tuition costs, fees, books, cost of living etc...
Be sure to go to your school's website to get more information about the scholarships that may be available to you. Even if you're financially capable of paying for school with no problem or help, scholarships are always a good thing to look into.
TOP TEN COLLEGES & UNIVERSITIES IN THE U.S ( BY ENROLLMENT )
COST OF ATTENDANCE :
- In State: 24,744$ | Out Of State: 39,090$
- In State: 20,890$ | Out Of State: 36,988$
- In State: 23,589$ | Out Of State: 40,089$
- In State: 17,199$ | Out Of State: 29,598$
- In State: 22,407$ | Out Of State: 39,584$
- In State: 26,324$ | Out Of State: 51,248$
- In State: 25,286$ | Out Of State: 47,051$
- In State: 15,943$ | Out Of State: 38,220$
- In State: 25,740$ | Out Of State: 32,990$
- In State: 20,498$ | Out Of State: 30,428$
- Arizona State University
- University Of Central Florida
- The Ohio State University
- Florida International University
- Texas A&M University
- University Of Texas At Austin
- Michigan State University
- University Of Florida
- University Of Minnesota
- Indiana University
Keep in mind these are averages, and the cost of attendance is subject to change at anytime. Not everyone will have the same cost of attendance.