The soaring cost of college tuition is a well-known burden for students and families across the country. But what are the actual figures, and how do they vary among different types of institutions?
By examining the average cost of college, prospective students can better plan their savings, refine their college search, and make informed decisions about borrowing. Let’s delve into the numbers to provide a clear picture of the financial landscape of higher education.
According to College Board, a non-profit that studies trends in college pricing, these are the 2023-2024 average costs for tuition and fees for full-time undergraduate students for one academic year.
- Public four-year in-state: $11,260
- Public four-year out-of-state: $29,150
- Public two-year in-district: $3,990,
- Private nonprofit four-year: $41,540
Average College Tuition Costs by Type of Institution
The tuition at public, two-year, in-district schools, such as community colleges, is the lowest of the group. Public four-year colleges can also be an affordable option for in-state students. The price of tuition can differ greatly for out-of-state students, though. Private, colleges tend to be much more expensive than public colleges.
Average Published Costs for Full-Time Undergraduates, 2023-24
Public Two-Year In-District |
Public Four-Year In-State |
Public Four-Year Out-of-State |
Private Nonprofit Four-Year |
For-Profit |
|
Tuition and Fees |
$3,990 |
$11,260 |
$29,150 |
$41,540 |
$15,740 |
Housing and Food (Room and Board) |
$9,970 |
$12,770 |
$12,770 |
$14,650 |
— |
Tuition and Fees and Housing and Food |
$13,960 |
$24,030 |
$41,920 |
$56,190 |
— |
Average College Tuition by State
In 2023-24, the average tuition and fees for full-time, in-state students at public four-year institutions ranged from as low as $6,360 in Florida up to $17,180 in Vermont. The average 2023-24 public two-year in-district tuition and fees range from $1,440 in California to $8,660 in Vermont.
While there aren’t any clear trends regarding the price of tuition across geographic regions, the Northeast region has some of the highest tuition rates for both in-state and out-of-state students at public universities. States like Vermont, New Hampshire, Connecticut, New Jersey, Pennsylvania, Rhode Island, and Massachusetts top the list.
North Dakota, South Dakota, Florida, Wyoming, and Utah are some of the least expensive.
Average Published Tuition and Fees at Public Institutions by State 2004-05 to 2023-24
State |
In-State Tuition and Fees, 2023-24 |
5-Year Percentage Change |
CT |
$20,366 |
29.50% |
PA |
$19,672 |
6.60% |
NH |
$19,112 |
3.30% |
VT |
$18,890 |
3.40% |
VA |
$18,816 |
13.90% |
IL |
$17,572 |
9.80% |
MA |
$17,357 |
9.30% |
NJ |
$17,239 |
15.10% |
MI |
$17,228 |
12.90% |
MN |
$16,496 |
12.30% |
RI |
$16,408 |
16.10% |
DE |
$16,080 |
17.50% |
OR |
$15,667 |
31.70% |
CA |
$15,602 |
10.00% |
MO |
$14,122 |
42.90% |
CO |
$13,622 |
8.70% |
AZ |
$13,600 |
8.90% |
TN |
$13,484 |
3.70% |
KY |
$13,212 |
7.90% |
OH |
$12,859 |
19.90% |
SC |
$12,688 |
0.60% |
WA |
$12,643 |
12.80% |
ME |
$12,606 |
12.90% |
OK |
$12,493 |
6.20% |
HI |
$12,186 |
1.80% |
LA |
$11,956 |
0.10% |
AL |
$11,900 |
10.40% |
IN |
$11,790 |
10.40% |
KS |
$11,700 |
5.00% |
MD |
$11,505 |
8.60% |
WI |
$11,205 |
6.20% |
GA |
$11,180 |
-5.50% |
AK |
$10,970 |
35.60% |
IA |
$10,964 |
18.30% |
ND |
$10,951 |
25.90% |
TX |
$10,858 |
2.20% |
NY |
$10,782 |
6.80% |
NM |
$10,296 |
40.60% |
UT |
$10,287 |
11.50% |
NE |
$9,950 |
8.70% |
AR |
$9,748 |
6.80% |
WV |
$9,648 |
8.90% |
SD |
$9,432 |
4.10% |
MS |
$9,412 |
8.70% |
NV |
$9,012 |
16.10% |
NC |
$8,998 |
0.10% |
ID |
$8,816 |
12.10% |
MT |
$8,152 |
12.50% |
WY |
$6,698 |
24.00% |
FL |
$6,381 |
0.00% |
Trends in College Costs Over Time
There’s no way around it — college is expensive. But you might be surprised that it’s not the most expensive it’s ever been.
College Board’s research shows 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.
Average Published and Net Prices, Full-Time In-State Undergraduate Students at Public Four-Year Institutions, 2006-07 to 2023-24 (in 2023 Dollars)
The average net tuition and fee price paid by first-time full-time students enrolled in private nonprofit four-year institutions declined from $18,820 (in 2023 dollars) in 2006-07 to an estimated $15,910 in 2023-24.
Average Published and Net Prices, Full-Time In-State Undergraduate Students at Private Four-Year Institutions, 2006-07 to 2023-24 (in 2023 Dollars)
College Tuition vs. the Total Cost of College
Knowing the average cost of tuition is helpful. But you need to think way beyond tuition and consider the full cost of attendance. “College tuition” and the “cost of college” are two very different things.
Average Published Charges for Full-Time Undergraduates, 2023-24
Public Two-Year In-District |
Public Four-Year In-State |
Public Four-Year Out-of-State |
Private Nonprofit Four-Year |
|
Tuition and Fees |
$3,990 |
$11,260 |
$29,150 |
$41,540 |
Housing and Food (Room and Board) |
$9,970 |
$12,770 |
$12,770 |
$14,650 |
Books and Supplies |
$1,470 |
$1,250 |
$1,250 |
$1,250 |
Transportation |
$1,930 |
$1,290 |
$1,290 |
$1,100 |
Other Expenses |
$2,500 |
$2,270 |
$2,270 |
$1,880 |
Total |
$19,860 |
$28,840 |
$46,730 |
$60,420 |
Tuition is just one part of college costs. Sure, it’s probably the biggest part. But then you have to consider room and board costs or off-campus housing, transportation to and from class, books and supplies, other living expenses, and all sorts of hidden college costs (for multiple school years).
It’s also important to know that not everyone pays the full net price of tuition. It’s kind of like when you buy a car. There’s a “sticker price,” and then there’s the amount you pay, which is generally less than the sticker price. Some students pay less (or nothing) thanks to financial aid like grants and scholarships. Work-study is a form of financial aid that can also help students cover tuition costs.
Understanding the Average Cost of College Tuition
While memorizing these figures isn’t necessary, having a general understanding of average college tuition across various institutions empowers you to make informed decisions. This knowledge helps determine whether the investment in higher education is justified for you and anticipates the financial commitment involved. With this insight, you can better make strategic choices about your future.
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