Cost of college tops $60,000 at 50 colleges
It’s no secret that college tuition has risen dramatically over the past two decades. According to the College Board, the average cost of tuition and fees for the 2013–2014 school year was $30,094 at private colleges.
But the news that 50 colleges now charge more than $60,000 per year, according to Business Insider, makes that $30,000 bill look like a bargain.
America’s most expensive colleges
Topping the list is Harvey Mudd College, which costs students $64,527 per year ($48,694 in tuition and fees, and $15,833 for room and board).
This is a dramatic increase from last year, when only nine colleges charged more than $60,000. At time, New York University was the most expensive college, at $61,977 per year.
To make matters worse, these figures don’t even include textbooks, travel costs, and other recreational expenses. These “indirect costs,” according to Business Insider, can add up to an extra $2,000 per year.
Not all students pay full price
One thing to remember: many students don’t pay full sticker price at these colleges. Financial aid, grants, and scholarships are often awarded to students at some of the nation’s most expensive colleges.
Even if you think you’d never be able to afford one of the colleges below, it’s worth applying because you never know how your financial aid package will work out. But be sure to plan ahead by applying to some lower-cost colleges too just in case.
Check out Business Insider’s full list below to see which colleges are among the $60,000 group.