Latest in Finance and Education
5 Arguments Why the Cost of College Has Become SO Expensive
To say most students have sticker shock when looking at tuition costs is an understatement. The average cost of college today runs between $10,000-$42,000 per year, for a bachelor’s degree, depending on where you attend - in-state public, out-of-state public or private school. This cost is about one-third of the average annual household income of $75,000 in the United States.
Just 20 years ago, the average cost of college was about half of what it is today. When you adjust for -current inflation the average household income would have been $68,000 in 2004 and we begin to see why college has become so hard to pay for. Costs have doubled while household incomes have stayed mostly the same.
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