According to the Washington Post, total outstanding student debt has passed $1 trillion, more than the nation’s credit card debt, and average indebtedness for students is rising. While I’ve often written about whether college is beneficial in modern society (where some of the most successful and wealthiest entrepreneurs are college drop outs), for many there is proven long-term fiscal value of a degree. But not everyone can afford to pay outright for skyrocketing tuition costs.
- Public four-year colleges charge, on average, $7,605 per year in tuition and fees for in-state students. The average surcharge for full-time out-of-state students at these institutions is $11,990.
- Private nonprofit four-year colleges charge, on average, $27,293 per year in tuition and fees.
- Public two-year colleges charge, on average, $2,713 per year in tuition and fees.