The Hidden Costs of College (and How to Cut Them) (2023)

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The cost of attending a U.S. college continues to rise and shows no sign of slowing down. Part of that expense is the hidden costs of college. If you haven’t budgeted for those costs, they can have a serious impact on your plans.

According to a report by Self.Inc, the average cost of college has risen 4.94% nationally since 2015[1]. That figure amounts to $1,344 more to study each year per student. The growth in education costs easily outpaced the U.S. inflation rate (now standing at 1.7% per U.S. government figures[2].

You probably know what tuition costs. You may be less aware of the rising “hidden costs” of attending college. This term covers a range of costs other than tuition. You expect to pay for food and lodging, but they may cost more than you planned to spend. Other expenses may come as a rude shock.

The Impact of Hidden Costs

Hidden costs affect student and family budgets. That impact is multiplied when the costs are unexpected.

  • About 80% of college students say they have encountered an unexpected indirect college expense at least one time[3].
  • 51% of college students surveyed paid more for indirect expenses than they expected, according to a 2020 study by uAspire, a college non-profit focused on college affordability[4].
  • 53% “changed their food shopping or eating habits. 42% were concerned they wouldn’t be able to stay enrolled as a result,” according to the same report.
  • uAspire surveyed over 800 colleges and universities and found that 39% “provided no estimates about non-tuition costs on their websites.” Laura Kean, a chief policy offer at uAspire and a co-author of the report, stated that “almost half of schools really didn’t give students the information they needed.”

👉 People familiar with the college experience are more likely to anticipate and budget for costs other than tuition. These costs often fall hardest on families sending a child off to college for the first time. These are also often the families who are least able to cover unexpected costs.

Getting a Grip on Hidden College Costs

Hidden charges can provide a severe case of sticker shock to beleaguered students and parents.

According to Mark Kantrowitz, a former publisher at SavingForCollege.com and author of the book, How to Appeal for More Financial Aid, most families do not plan for hidden college costs. “That’s because they’re not aware of them. Hidden college costs can increase the cost of a college education by $10,000 to $20,000 (approximately $300-to-$500 per month).”

College experts say that academic institutions don’t make it easy to find hidden costs. The uAspire report notes that colleges have 58 terms for describing indirect college expenses. Parents and students can also do a better job of rooting out hidden college costs from arcane tuition bills.

“I’m not sure if the costs are hidden, but rather most college families don’t ask or understand the questions they need to ask,” said Fred Amrein, co-founder of PayforED, a collegiate consulting firm located in Newtown Square, PA. “The emotional part of this decision often distorts the reality of cost. The colleges have gotten very good at making things very a la carte, such as the type of dorms, meal plans, and fees by major. They only give one year of financial information, so it is difficult to see the total cost and debt.”

“That means students and parents may be unable to see the financial consequence of their decisions,” Amrein said.

Knowledge is Power

The best path forward is exactly what colleges offer – education.

(Video) The Real Deal: Ways to cut extra college costs

“The price many colleges list on their website or in their financial aid documents is often under-estimated,” said Laurie Kopp Weingarten, president of New Jersey-based One-Stop College Counseling. “Unfortunately every college seems to have their own method of calculating total costs which makes it difficult for families to compare their options when selecting where their student will enroll.”

What are the Hidden Costs?

Here are some of the most important hidden costs that you can expect to encounter. If you’re aware of the costs you can prepare for them and take action to reduce them. You could save thousands of dollars in the process.

Student Loan Interest

This cost usually doesn’t crop up until a parent or student inspects the financial aid package. It may appear even later when the student has left college. It may not hit you in college, but it can take a lot of the joy out of graduating.

The Hidden Costs of College (and How to Cut Them)

“The biggest “hidden” costs are the thousands of dollars of interest that people are paying on their student loans,” said Jeffrey Scholnick, legal counsel at Silverman, Thompson in Baltimore, Md. “Many student loans will be accruing interest while the borrower is in college, but people don’t realize that as their payments don’t start until six months after they graduate when their debt has increased significantly.”

Scholnick, who specializes in helping individuals with onerous student loan debt, said that students and their parents need a loan repayment strategy before they start college. “Otherwise, they are shocked to see that their young graduates, earning entry-level salaries, are suddenly faced with loans equaling the amount of a mortgage,” he added.

Health Insurance

Many families are surprised to find out that they will need to pay for health insurance or some sort of additional healthcare fee”, Weingarten said.

(Video) Hidden Fees in College.

Extra Dining Costs

Meals are a basic expense if you’re going away to college. You may not understand the full cost and the college may be in no hurry to explain it.

“Many colleges don’t cover all meals, or students decide not to purchase an unlimited meal plan, or their course schedule doesn’t allow them time for lunch/dinner in the dining hall,” Weingarten said. “Then, they also must purchase food.”

Students also often complain that they dislike the dining hall menu choices, so they “need” to purchase food/beverages. “It all adds up,” Weingarten added. “And don’t forget the socializing that goes on at restaurants and bars – that’s definitely not included in the cost of attendance.”

Textbooks

Buying textbooks for the semester up front may take a huge bite out of their hard-earned budget dollars. Many students don’t realize how much textbooks cost until it’s time to buy them. According to the college board, the average college student spent between $1,200 and $1,400 on textbooks during the 2018-2019 school year, a substantial bite that many families may not anticipate.

Dorm Furnishings

You expect to spend for sheets and blankets and some basic decorations. There may be other expenses as well. “Consider, for example, a common room in a suite that is completely unfurnished,” Weingarten noted. “When my son arrived at Princeton, we had to purchase a couch and chairs. Some of my students had the same situation at Yale. But at the University of Pennsylvania, where my daughter attended, the common rooms are furnished. It simply depends on the school policy.”

Social Costs

Social life is part of college life, and it often involves costs. Fraternity/sorority costs, club costs: fundraisers, dues, and end-of-semester events can all put a load on the budget.

“Hidden costs also include purchasing tickets to support your friends’ events,” Weingarten added. Some of these costs may be avoidable but it’s not reasonable to expect a college student to completely overlook the social side of life.

Loss of Merit Aid

“If a student loses their merit scholarship by not meeting the required grade-point average, it can turn into a true financial hardship for the family,” Weingarten said.

This happens more often than many parents expect. Students who are used to excelling in high school may not develop rigorous study habits. They can be overwhelmed by the workload and academic standards of a competitive university. When you’re used to being “the smart kid” it can be a shock to discover that now all the kids are smart. If you don’t adjust in time the cost impact could be severe.

COVID-Related Hidden College Costs

Mark Kantrowitz, a former publisher at SavingForCollege.com points to several hidden college costs stemming from the global COVID-19 pandemic, which may or may not go away. Covid-19 hidden college costs include:

General COVID-19 Fees

“Some colleges have added special Covid-19 fees to cover the cost of testing and free masks, and the cost of extra cleaning and plexiglass,” Kantrowitz said.

Remote Learning Costs

When a college switches to online-only education, the student may need to dig deep to learn remotely. “That could mean buying a new laptop computer, purchasing high-speed internet service for home, buying a desk and chair for use at home, and duplicating any disability-related accommodations,” he noted.

Apartment Rental

If a college tells students to vacate the dorms, the student may need to rent an apartment instead of returning home because they may be afraid of infecting elderly parents or grandparents. “If the student does return home, they may have to pay for extra plane, train or bus fare,” Kantrowitz said. “They may have to pay to ship or store their belongings.”

Is help on the way on COVID-related college costs? Not exactly.

According to Kantrowitz, Congress funded the Higher Education Emergency Relief Fund to help students out with COVID-related expenses. At least half of the fund must be provided to students as emergency financial aid grants for pandemic-related expenses. “This money often falls short of the actual need,” he said.

Colleges who kept tuition and room and board money and didn’t return it are under special scrutiny on un-imbursed costs. “When colleges required students to vacate the dorms in the spring of 2020, some refused to provide room and board refunds and most refused to provide tuition discounts even though online education lacks all of the benefits of in-person education,” Kantrowitz added.

(Video) Hidden Costs of Going to College

Fight Back!

Some hidden costs are hard to cut, like food and accommodation. Parents and students can still trim many of those costs. Learning to live in a cost-conscious style can even be part of a student’s education. Experience with frugal living can be a big advantage after graduation!

“Unfortunately though, many hidden costs are hard to avoid,” Weingarten said. “Also, sometimes there are grants or reimbursements for costs that students don’t think to ask about. The more the student is aware of benefits and perks offered by the college, the better the chance that some expenses can be covered.”

College experts say you can cut your spending on hidden costs. These items are at the top of that list.

Use Your Meal Plan

“If you are required to purchase a meal plan, then use it, even if the food isn’t your favorite,” Weingarten said. “Try to take advantage of the free things offered to college students.” With meal plans as low as $800 per semester (i.e., four months or so), college students can save hundreds, if not thousands, of dollars by stocking to the meal plan and not eating out.

💡 Many colleges offer multiple meal plans. You may be able to save by choosing a plan that fits your eating style. Don’t pay for three full meals a day if you aren’t going to eat them!

(Video) How To Avoid Hidden College Costs | Money | TIME

Save on Textbooks

By purchasing used textbooks on eBay or Amazon or even renting them on textbook sales platforms like Chegg, college students can save up to 50% off the cost of collegiate textbooks. Look into second-hand books sold at your university by students who have already taken the course. Some textbooks may be available in e-book format, which can reduce both cost and the weight of a school bag.

💡 Remember that students can sell their textbooks when the semester is over and recoup some of their textbook expenditures.

Off Campus Local Costs

Make sure to ask for a student discount when purchasing items off-campus. “Many retailers offer discounts if you present a student I.D.,” Weingarten noted. Student I.D.’s can save the average college student about 40% for movies and entertainment, 40% off travel and hotels, and about 20% off for digital hardware like laptop computers, among other savings.

Curb Parking Tickets

If you have a vehicle on campus, avoid parking in areas where you can get a ticket. “While one or two might not be that much of a problem, if you add them up over the months and years that you’re at college, it can turn out to be quite a hefty cost,” said George Birrell, founder of TaxHub, a New York City-based tax planning firm. “Learn your lesson quickly and don’t park in high-risk ticker areas. Uber is a good option against campus parking issues, too.”

☝️ Parking tickets can start low, depending on where the college is located. An initial ticket can $10 in rural areas and $40 in urban areas. If you ignore the ticket, the cost may go up. That could mean hundreds of dollars in savings by avoiding parking tickets.

Assess General Tuition Costs

Before choosing a college, calculate an estimate of the hidden college costs, so you can budget for them. “Review all of the fees listed on the college’s website,” Kantrowitz said. “Choose a cheaper college, taking into account the hidden costs. Identify the hidden college costs you can avoid or reduce. Then, plan a path from enrollment to graduation, so you can graduate on time.”

☝️ By choosing a less expensive college, a student can save over $10,000 annually – and up. Getting a grip on college fees can save a family and student hundreds of dollars annually.

Consider Studying Close to Home

Living away from home may be closer to the college experience you’re looking for, but it can push the costs of college up. If you live near a college or community college, starting out in a local school and living at home can cut your costs by a substantial margin. You can always transfer to the school you want if you’re local school doesn’t offer the degree you want or you feel that you’d gain a significant advantage from graduating from a better-known school.

☝️ Studying at a local college may push your transportation costs up. You’ll need to consider that when you compare costs, but the savings on accommodation and food will be substantial.

The Takeaway on Hidden College Costs

Why do colleges get away with hiding costs, or with being less than open about non-tuition expenses? Because they can.

“I have no idea why colleges can’t more accurately estimate the costs and why they can’t curtail some of them,” Weingarten said. “For example, some colleges offer free laundry and/or free printing. Others charge for one or the other while many allocate a specific dollar amount of free services.”

(Video) Dr. Bari Norman on CBS - Hidden Costs of Going to College

The bottom line is simple and straightforward.

“Do as much research as you can before committing to a college,” Weingarten said. “Try to identify what the unexpected costs and estimate how much they can cost each year. As a family, discuss what expenses are reasonable and what the student should prioritize.”

FAQs

How can the cost of college be reduced? ›

Explore all of your aid options.

Apply for scholarships. Start looking early and apply every year you are in school. Also check with your school's Financial Aid Office to see if merit-based aid is available. To qualify for merit-based aid, you may need to meet certain criteria.

How can the government reduce college costs? ›

By tying federal funding for higher education to a required state match and maintenance of effort requirement, the federal government can incentivize states to invest in higher education, thereby improving access and completion, especially for low- and middle-income students.

What are the top 3 costs of college? ›

School Expenses
  • Tuition & Fees. College tuition and fees are the greatest costs of attending college. ...
  • Books & Supplies. Look into options for buying used books or renting books. ...
  • Housing/Rent. Most schools offer various options of on-campus housing and dorm rooms. ...
  • Food. ...
  • Transportation. ...
  • Entertainment. ...
  • Other Expenses.

What are the 5 main expenses for colleges? ›

Here are a few of the most significant expenses according to Federal Student Aid, an office managed by the U.S. Department of Education.
  • Tuition. ...
  • Room and Board. ...
  • Textbooks and School Supplies. ...
  • Equipment. ...
  • Personal Expenses. ...
  • Transportation. ...
  • School and Activity Fees.

What are the 5 main categories of college costs? ›

is made up of five different types of costs:
  • ROOM & BOARD. The cost of a place to live and the meals you eat for the school year. ...
  • BOOKS & SUPPLIES. The cost of such items as books, course materials, office and art supplies. ...
  • PERSONAL EXPENSES. ...
  • TRANSPORTATION. ...
  • TUITION & FEES.

What are 4 ways to make college more affordable? ›

For many, the best way to pay for college is a combination of methods. You can find free money for college through grants and scholarships, earn cheaper credits and certificates online, work a part-time job on campus, or even graduate a semester or more early.

Is college worth the cost anymore? ›

According to the Bureau of Labor Statistics, graduates with a bachelor's degree or higher had median usual weekly earnings of $1,556 when working full-time, compared to just $866 for high school graduates with no college studies. In this way, a college degree can almost double your earning potential.

Why does college have to cost so much? ›

There are a lot of reasons — growing demand, rising financial aid, lower state funding, the exploding cost of administrators, bloated student amenities packages. The most expensive colleges — Columbia, Vassar, Duke — will run you well over $50K a year just for tuition.

Why should college cost be reduced? ›

To ensure that hard-working students can obtain higher education while affording basic needs, it is imperative to vastly reduce or eliminate the cost of public four-year universities before it is entirely unobtainable for lower-income Americans.

How can we make higher education free? ›

How to attend college for free
  1. Apply for grants and scholarships. ...
  2. Serve your country. ...
  3. Work for the school. ...
  4. Waive your costs. ...
  5. Have your employer pick up the costs. ...
  6. Choose an in-demand career. ...
  7. Attend a work college. ...
  8. Choose a school that pays you.
Jul 5, 2022

Can the government afford free college? ›

Less than 1% of the $6.27 trillion annual federal budget could be used to make college free for all. A First-Dollar tuition free-program would cost $58 billion the year it is implemented. Over an 11-year time frame, a First-Dollar Tuition-Free program would cost a total of $800 billion.

What do college students buy the most? ›

College students are estimated to spend nearly $10 billion on clothing for the 2021-2022 school year.
...
Clothing and personal care
  • Electronics: $306.41.
  • Furnishings: $164.38.
  • Clothes: $158.98.
  • School supplies: $83.56.
Apr 5, 2022

What is the cheapest college ever? ›

Cheapest Public Colleges in the US
#InstitutionNet Price per Year
1Indian River State College$588
2South Texas College$1,610
3Sitting Bull College$3,060
4Palm Beach State College$3,064
11 more rows
Jan 8, 2021

What is typically the largest expense at most colleges? ›

The biggest part of college costs is usually tuition. Tuition is the price you pay for classes. Along with tuition, you'll probably have to pay some other fees to enroll in and attend a college.

How do people afford living expenses in college? ›

Featured Stories
  1. Finding the right apartment. Consider staying in a private home instead of a big apartment complex. ...
  2. Live with people. More roommates equals less expensive rent. ...
  3. Get a job. Start with your school's employment office. ...
  4. Be frugal. ...
  5. Use your loans (if you must).

How do people afford college living expenses? ›

11 Ways to Pay for College and Other Expenses
  1. Fill Out FAFSA and See What Aid You Qualify For. ...
  2. Applying for Scholarships. ...
  3. Applying for Grants. ...
  4. Asking the College for More Money. ...
  5. Getting a Part-Time Job. ...
  6. Applying for a Tax Credit. ...
  7. Federal Student Loans. ...
  8. Work-Study.

What are the four main ways people pay for college? ›

4 Ways to Pay for College
  • Scholarships.
  • FAFSA.
  • Federal Loans.
  • Private Loans.
Aug 8, 2017

What are 3 options for paying for college? ›

  • Scholarships. Scholarships offer money for college that does not need to be paid back. ...
  • Grants. Grants, like scholarships, do not need to be repaid. ...
  • Work-Study. A work-study program provides part-time employment opportunities while you're in school. ...
  • Your Own Income and Savings. ...
  • Federal Student Loans. ...
  • Private Student Loans.
Nov 1, 2022

Are college expenses tax deductible? ›

Tuition and Fees Deduction (for tax years before 2021)

Another option is to claim a deduction of up to $2,000 or up to $4,000 of qualified tuition and mandatory enrollment fees, depending on your income. You do not have to itemize your deductions to claim the tuition and fees deduction.

What are the three main expenses? ›

Fixed expenses, savings expenses, and variable costs are the three categories that make up your budget, and are vitally important when learning to manage your money properly.

Why is college so unaffordable? ›

According to Business Insider, multiple state governments across the nation have cut funding for college, and are letting colleges fill in the lost revenue with higher prices. “States provide less, and students and parents pay more,” said Terry Hartle, senior vice president of the American Council on Education.

What year did college become so expensive? ›

Between 1980 and 2020, the average price of tuition, fees, and room and board for an undergraduate degree increased 169%, according to a recent report from the Georgetown University Center on Education and the Workforce. But as a result of the Covid pandemic, there's more to the story.

Is college worth the debt? ›

College graduates tend to make more money.

As long as you graduate debt-free, that college diploma could help you build wealth a lot quicker than if you didn't go to college. (If you're looking to get ahead of college costs, a financial advisor can help you figure out a college savings plan that won't lead to debt.)

What would happen if college was free? ›

By negating the large bill of a college education, we could see an increase in the number of students able to attend college. This then creates a more well-educated workforce, a population that has better critical thinking skills, and increased innovation across a number of industries and society as a whole.

When did college become unaffordable? ›

And yet, by 1970, college access was disrupted by double-digit inflation and a struggling economy. Tuition and fees rose alongside the inflation rate, making college — once again — unaffordable for many students.

What country offers free college? ›

Norway offers free college tuition at all of its public universities for both Norwegians and international students. The Norwegian government funds these universities to help degree-seekers graduate with less debt. Norway also offers scholarships and grants to cover living expenses in the high-cost-of-living country.

Should college be free for everyone? ›

Research shows that free tuition programs encourage more students to attend college and increase graduation rates, which creates a better-educated workforce and higher-earning consumers who can help boost the economy.

How does the cost of college affect students? ›

With ballooning student loans, graduates tend to delay making major life decisions, such as buying a home, getting married, or having children. Other effects of rising college tuition include students enrolling at less expensive community colleges or dropping out of college altogether.

How do people afford higher education? ›

6 Best Ways to Pay for College
  1. College Savings Plans. Families can save for future college costs using a 529 plan. ...
  2. Federal Financial Aid. ...
  3. Grants and Scholarships. ...
  4. Cash From Savings. ...
  5. Work During School. ...
  6. Private Loans. ...
  7. Choosing a Cheaper College. ...
  8. Studying Abroad.
Nov 10, 2022

Who benefits most from free higher education? ›

Free college programs benefit higher-income students the most. Contrary to their reputation as “progressive,” free college programs overwhelmingly allocate taxpayer dollars toward upper- and upper-middle-class students, giving them a further head start than they already have in the higher education system.

How much will free college cost taxpayers? ›

The cost of providing free college at public institutions in the U.S. is estimated at around $680 billion a year, or about 1 percent of last year's $6.82 trillion in federal spending. That's compared to $782 billion spent on defense and $829 billion spent on Medicare.

Where would the money come from if college was free? ›

The cost of a national free college program would likely be funded jointly by the federal government and the states (similar to how Medicaid is financed), although such a breakdown is not available.

Why is college not free in the US? ›

Since the provision of free college could affect the quality of education, free access for all to postsecondary education might not be able to provide the competencies and skills needed to produce a strong workforce. The government has many competing priorities and free college requires high education subsidies.

Is there a free college in the US? ›

Alice Lloyd College provides free tuition for students from select Appalachian counties. All students are required to work at least 160 hours per credit. ADVERTISEMENT. Featured or trusted partner programs and all school search, finder, or match results are for schools that compensate us.

How much money does a college student need per month? ›

According to the College Board, the average college student spends approximately $2,270 per month on living expenses. The amount of money you need each month depends on several factors, such as your location, your rent, whether you're splitting the cost with roommates, and so on.

What do college students struggle with the most? ›

Common Issues
  • Social anxiety, general anxiety, test anxiety, or panic attacks.
  • Family expectations or problems.
  • Depression, lack of energy or motivation, hopelessness, being overwhelmed, low self-esteem, homesickness, loneliness.
  • Relationship difficulties (emotional and physical aspects of intimate relationships)

What college has the most rich students? ›

The Colleges With The Richest Students
  • Stanford University. ...
  • Harvard University. ...
  • Princeton University. ...
  • Massachusetts Institute of Technology (MIT) ...
  • University of Southern California (USC) ...
  • University of California, Los Angeles (UCLA) ...
  • Duke University. ...
  • University of Pennsylvania.
Jan 16, 2023

What is the easiest highly ranked college to get into? ›

Alabama State University (Montgomery, Alabama)- 97% Western Kentucky University (Bowling Green, Kentucky) -97% Eastern Washington University (Cheney, Washington)- 96%
...
Colleges with 100% Acceptance Rates
  • Utah Valley University (Orem, Utah)
  • Wayne State College (Wayne, Nebraska)
  • Wilmington University (New Castle, Delaware)
Sep 7, 2022

Which state has the lowest tuition? ›

States With the Cheapest College Tuition
  • Wyoming. University of Wyoming. ...
  • Florida. University of Florida. ...
  • Montana. University of Montana. ...
  • Idaho. University of Idaho. ...
  • New Mexico. University of New Mexico. ...
  • Nevada. University of Nevada: Reno. ...
  • Mississippi. University of Mississippi. ...
  • North Carolina.
Jun 13, 2022

What is the easiest college to go to? ›

The easiest colleges to get into are:
  1. Adams State University. Location: Alamosa, Colorado.
  2. University of Texas at El Paso. Location: El Paso, Texas. ...
  3. Eastern Washington University. ...
  4. Dickinson State University. ...
  5. Presentation College. ...
  6. Eastern Oregon University. ...
  7. Wright State University. ...
  8. Western Kentucky University. ...

How much does FAFSA give based on income? ›

The FAFSA formula doesn't expect students or families to use all of their adjusted available income to pay for college. The formula allocates 50 percent of a dependent student's adjusted available income to cover college expenses and anywhere from 22 to 47 percent of parents' available income.

What is the average FAFSA aid? ›

Average and maximum financial aid
Type of AidAverage Amount
Federal Direct Stafford Loan$5,800 (dependent) $7,630 (independent)
Federal Work-Study$2,340
Federal Supplemental Educational Opportunity Grant$670
Total Federal Student Aid$13,120 (dependent) $14,950 (independent)
2 more rows

Where do most colleges get their money? ›

Where Do Colleges Get Their Money? Colleges and universities can make money from a number of sources, including endowments, gifts, tuition and fees, athletics, and grants. Schools can also make money by charging fees for international enrollment.

What are some expenses of going to college? ›

Tuition
Tuition Costs in California, 2019-2020
Public 4-year (in state)$8,192
Public 4-year (out of state)$32,177
Private 4-year$37,009
Public 2-year (in state)$1,270
2 more rows

What are some of the costs of attending college? ›

Average College Tuition and Fees

For the 2022-2023 academic year, the average price of tuition and fees came to: $39,400 at private colleges. $10,940 at public colleges (in-state residents) $28,240 at public colleges (out-of-state residents)

What are costs in college? ›

Tuition is the price you pay for classes. Along with tuition, you'll probably have to pay some other fees to enroll in and attend a college. Tuition and fees vary from college to college. Other college costs include room and board, books and supplies, transportation, and personal expenses.

Why is college so ridiculously expensive? ›

Over the last 30 years, tuition costs have soared for a variety of reasons. State funding cuts, expanding administrative staffs, and increased construction and facility costs all play a role. As a result, the average student debt among college graduates is now close to $28,000.

Is college worth the cost Absolutely? ›

According to the Bureau of Labor Statistics, graduates with a bachelor's degree or higher had median usual weekly earnings of $1,556 when working full-time, compared to just $866 for high school graduates with no college studies. In this way, a college degree can almost double your earning potential.

What is the most expensive part of college? ›

College Costs: The 4 Parts of College Costs
  • Tuition and Fees. The biggest cost associated with college is tuition. ...
  • Room and Board. Many who attend college will incur costs for housing and meals in addition to the cost of actually being educated. ...
  • Books and Supplies. ...
  • Personal costs.
Dec 22, 2022

What is the most expensive thing to go to college for? ›

Harvey Mudd College — $209,532 Bachelor of Science

Harvey Mudd appears to be one of the most expensive undergraduate program in the US. The Claremont, California-based program runs students $209,532 for four years.

Does FAFSA reduce tuition? ›

The financial aid awarded based on the FAFSA can be used to pay for the college's full cost of attendance, which includes tuition and fees.

Why should people pay for college? ›

Students Should Pay for College Because They Benefit the Most. Many people feel that even if there are societal benefits to a better educated population, the people that benefit the most are those who get the degree. Therefore, they should pay.

Where is college free in the world? ›

Norway offers free college tuition at all of its public universities for both Norwegians and international students. The Norwegian government funds these universities to help degree-seekers graduate with less debt. Norway also offers scholarships and grants to cover living expenses in the high-cost-of-living country.

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