Rising Costs of A Higher Education

You can be glad that a higher education “pays off” because the cost of a college education, for example, can be staggering. According to the College Board declines in state and federal funding for colleges and universities is fueling an increase in tuition costs across the country. For the 2015-2016 academic year, tuition and fees, room and board, books and supplies, personal expenses, and transportation average $27,076 for a four-year public university, and $53,307 for a four-year private college. All totaled, the cost of a four-year college education for someone starting in 2015, assuming an average 6% annual increase in expenses, is estimated at $118,448 for a public university, and $233,196 for a private college