How Much Will College Cost In 10 Years – WordsRated (2024)

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How Much Will College Cost In 10 Years – WordsRated? ›

This report breaks down the average cost of tuition and estimates its growth by the 2032/33 academic year. By the 2032/33 academic year, average tuition fees for 4-year courses at public colleges are projected to reach $16,934. Average tuition fees for 4-year courses at private colleges are projected to reach $51,550.

The average cost of tuition and fees at a public four-year school increased by about 10% over 10 years, according to the National Center for Education Statistics. At private nonprofit schools, tuition and fees increased by about 19%.

According to the US Department of Education, the average annual cost of public school increased 6.5 percent each year over the last decade. That means that by 2030, annual public tuition will be $44,047. The total cost for a four-year degree will be more than $205,000.

The average cost of college* in the United States is $36,436 per student per year, including books, supplies, and daily living expenses. The average cost of college has more than doubled in the 21st century, with an annual growth rate of 2% over the past 10 years.

This report breaks down the average cost of tuition and estimates its growth by the 2032/33 academic year. By the 2032/33 academic year, average tuition fees for 4-year courses at public colleges are projected to reach $16,934. Average tuition fees for 4-year courses at private colleges are projected to reach $51,550.

The estimate can make a big difference in a plan. Using 2021's average rates for a four-year private college, a child born today will pay $188,000 in the 2040 freshman year at the 7% inflation rate. At the 30-year average we calculated above (4.2%), the same child will pay $117,000 ($71k less).

In the 1940s, '50s, and '60s, the federal government passed several pieces of legislation that sent more money to states to fund higher education and kept college costs down. More people opted to go to college because it was more affordable.

During much of the 1960s (in the early years of the Master Plan for Higher Education in California, 1960-1975), the three public higher education systems in California – the University of California System (UC), the California State College System (CSUC), and the state's community colleges – did not charge tuition for ...

When you look 18 years ahead to 2035, colleges could have a tuition of $54,070 per year, and private colleges could be looking at a tuition of $121,078 per year. Let's do a little quick math here. The projected cost of college in 2035 of $121,078 multiplied by four…that's $484,312 for a four-year degree.

Is college worth the cost anymore? ›

College is a good investment

By 2021, the difference had grown to 62 percent (and closer to 90% for workers with graduate degrees). Currently, California workers with a bachelor's degree earn a median annual wage of $81,000.

The facts, according to The College Board, are that, “After adjusting for inflation, the average net tuition and fee price paid by first-time full-time in-state students enrolled in public four-year institutions peaked in 2012-13 at $4,230 (in 2023 dollars) and declined to an estimated $2,730 in 2023-24.”

In addition to having higher earnings and lower rates of unemployment, college graduates are more likely to own a home and less likely to be in poverty or need social services, according to findings from the Public Policy Institute of California (PPIC).

Higher education costs have increased more than 170% over the last 40 years. Lack of regulation of tuition costs, along with increased expenses, raises total costs for students. Administrative overhead and demand for more student services also increase costs.

The average cost of college tuition in the U.S. for undergraduate students has more than tripled, multiplying by 3.08 times over the last 58 years, according to data from the National Center for Education Statistics (NCES). It rose from $4,648 in 1963 to $14,307 in 2021. That's accounting for inflation.

Increased demand for a college education, less funding from state governments and increases in administrative and operating costs have contributed to a higher cost. Students can afford college by seeking funding sources such as scholarships, student loans and work-study to help foot the bill.

By the 1981-1982 academic year, tuition costs rose again and have continued to rise every year since. Between 2000 and 2021, average tuition and fees jumped by 65%, from $8,661 to $14,307 per year. In just the 11 years between 2010 and 2021, tuition and fees rose by 17%, from $12,214 to $14,307.

Ultimately, the average cost of tuition has increased nearly 180% over the past 20 years, even after accounting for inflation.

On average, from 2001-2021, tuition and fees rose 5% a year at public four-year colleges and 3.8% a year at private four-year colleges. In the same period, the average tuition inflation rate was 4.8% per year at public two-year colleges and 3% at private two-year colleges.

The CBPP report says limited state funding has contributed to rising college costs, citing figures from the College Board which estimate that annual published tuition at four-year public colleges has risen by $2,708, about 37%, since the 2008 school year.