mp
Arrow

How Much Does College Tuition Cost in 2020?

Author image
Dominique Broadway
How Much Does College Tuition Cost in 2020?

Education is expensive these days. Many parents and students are already feeling the pinch of the soaring costs. Data published by US News shows that the cost of tuition fees grew by 63% between 2008-2020 alone.

A survey by EAB’s Enrollment Services Division pointed out that more than 40% of students dropped their first college preference simply due to the costs. Accordingly, if you’re seeking to comprehend the cost of higher education, this article will help you evaluate the costs to find a college that suits your educational ambitions best.

The Average Cost of College in General in the US

When it comes to affording higher education, the cost varies widely from college to college. Students who attend an in-state public college can graduate with minimal costs. Comparatively, most public college tuition costs are as low as one-third of the displayed price of private institutions.

For the 2019-20 academic year, the average public college tuition cost for state residents was $10,440 per year and $26,820 annually for out of state students. Private college tuition costs at the same time-averaged at $36,880 annually.

For a more comprehensive look at yearly costs for 2019-2020 review the table comparing public and private colleges below:

Tuition & FeesRoom & BoardBooks & SuppliesTransportationOther Expenses
Public College in State$10,440$11,510$1,300$3,280$3,000
Public College Out of State$26,820$11,510$1,300$3,280$3,000
Private College in State$36,880$12,990$1,300$2,750$2,000
Private College Out of State$36,880$12,990$1,300$2,750$2,000

Data Sources: collegeboard.org (Higher Education Trends), EducationData.org, Usnews.com, Collegescorecard.ed.gov, Bigfuture.collegeboard.org, Mycollegeguide.org, nces.ed.gov, collegestats.org

Average Cost of College by State in 2020

While attending a college as an out-of-state student might mean a major hike in terms of the fees, it is still lower than that of private colleges. These days, state colleges especially are opening up to offering residents and non-residents alike the same tuition and fees.

The College Board notes in its 2019 report, Trends in College Pricing, that the 2019-2020 academic year projected a modest college cost for a four-year in-state public college at $26,590 per year.

The comparable average cost of education at a private college is estimated at $53,980 annually. The least expensive state for a college education is New Mexico (average tuition fee $3,846), while the most expensive state is Pennsylvania (average cost of $14,212).

Here’s a state-wise comparison of 2019-20 college tuition and fees –

StateIn-State Cost
(Average)
Out-of-State Cost
(Average)
Alabama$10,920$27,520
Alaska$8,230$25,550
Arizona$11,920$31,320
Arkansas$9,030$22,170
California$9,970$31,750
Colorado$11,380$31,670
Connecticut$13,660$33,170
Delaware$13,290$33,000
Florida$6,350$21,990
Georgia$8,720$24,650
Hawaii$10,980$31,600
Idaho$8,000$25,180
Illinois$14,170$27,040
Indiana$9,670$29,450
Iowa$9,360$27,150
Kansas$9,200$23,510
Kentucky$10,900$25,530
Louisiana$9,610$20,780
Maine$10,480$27,640
Maryland$10,110$24,920
Massachusetts$13,640$30,030
Michigan$13,770$37,280
Minnesota$11,830$24,850
Mississippi$8,600$21,080
Missouri$9,020$21,180
Montana$7,200$24,750
Nebraska$8,750$23,180
Nevada$7,950$22,770
New Hampshire$16,920$30,410
New Jersey$14,540$27,390
New Mexico$7,430$21,600
New York$8,430$20,650
North Carolina$7,280$23,790
North Dakota$9,290$13,380
Ohio$11,330$25,580
Oklahoma$8,920$22,420
Oregon$11,220$31,840
Pennsylvania$14,940$28,090
Rhode Island$13,060$29,740
South Carolina$13,060$33,020
South Dakota$8,980$12,500
Tennessee$10,250$24,350
Texas$10,470$27,640
United States$10,440$26,820
Utah$7,160$21,770
Vermont$17,470$41,640
Virginia$13,630$34,730
Washington$10,080$30,750
West Virginia$8,490$23,040
Wisconsin$9,100$24,270
Wyoming$5,580$18,150

Source: Trends in College Pricing 2019 (research.collegeboard.org/trends), The College Board, Annual Survey of Colleges; NCES, IPEDS Fall 2017 Enrollment data, collegetuitioncompare.com/statistics

How Much Does a Master’s Degree Cost in 2020?

If you are thinking of pursuing your Master’s degree, be informed that costs can soar extremely high. With 50 states and 1500+ colleges offering advanced degrees, the US has a lot of options available for post-graduates.

The average per year cost of public colleges offering Master Programs in 2019 was $26,234 (in-state) and $35,565 (out-of-state). This price includes room and on-campus board, tuition and fees, books and supplies, and other expenses.  An online master’s degree program is comparatively cheaper, but there are many limitations that accompany an online program.

As the numbers above suggest, there are a lot of things to consider when selecting a college. When deciding, look beyond the sticker price (compare prices and add extra expenses) to assure you understand the full costs of acquiring a degree.

Consider your financing options and make sure to consult with the counselors of any college you intend to apply for.