How to Afford College
Finding smart solutions to afford college, so you can avoid the burden of student loan debt.
The cost of higher education has become a phenomenal burden for students and parents alike in recent decades. U.S. News reported that from 2008 to 2021, the cost of in-state tuition among public National Universities grew by 72%. If a student attends college and relies solely on student loans to cover the tuition and other costs, it creates a phenomenal financial burden by the time they leave school. Student Loan Hero reports that 56% of public and non-profit college seniors graduate with student loans, with an average debt of $28,800. That amount of debt can lead to serious delays in achieving life goals, such as getting married and buying a first home.
How much does college cost in 2021?
According to the College Board, the average net price paid by full-time students enrolled in public four-year colleges increased again in 2020-21.
2018-19 was the seventh consecutive year that tuition increased before an almost historic price drop in 2019-20. To relieve the financial stress COVID-19 put on students, many institutions lowered their tuition prices for the year. Aside from the pandemic’s impact on cost, the average net price for public two-year and private nonprofit four-year students also increased. The table below reflects the increases in tuition and fees, room and board for full-time undergraduates by type of institution.