Tuition Payments | Whats The Best College

Where College’s Tuition Goes

Thomas Jefferson's Rotunda at the University o...

College tuition is skyrocketing. In just a few years the price of the average public college in the United States has doubled and almost tripled in price. This has led many college students to question what exactly their college tuition is going towards.

Here’s a look at some of the things colleges do with the tuition money students pay out.

Upgrade Classroom Equipment

Classroom technology is always changing and part of students’ tuition goes towards upgrading the classroom equipment. Items such as computers, new desks, wi-fi and projects are purchased using the money that comes from tuition.

Paying Instructors

A very small portion of the money from tuition goes towards paying the people that actually teach the classes. Professors, teaching assistants and teachers are all paid with the money collected from students’ tuition. With teachers asking for higher pay it causes tuition to rise.

Maintenance Costs

Colleges need to pay for maintenance costs and those costs come out of the money collected from students’ tuition. Maintenance costs such as cleaning bathrooms, carpet cleaning, dry erase board markers, paper, lighting and heating are all factored into what schools charge for tuition.

Scholarships for Prospective Students

Surprisingly a small portion of current students’ tuition goes towards a scholarship fund for prospective students. Many colleges offer college sponsored scholarships and the money that is used for those scholarships may come from the tuition that current students pay.

These are just a handful of the reasons that college tuition is on the rise. More students attending the college, outdoor landscaping, school renovations, and higher administrative costs also effect what colleges charge for tuition.

Filed Under: Tuition Tagged With: Student, Tuition payments, United States

The Costs of Going to College

The actual cost of attending college is going to vary depending upon the college you wish to attend. For some the costs may seem astronomical, but others aren’t as impossible to afford as you might think. Consider that 47 percent, almost half of the full-time students currently attend a four-year college where the cost for tuition and fees is under $9,000 a year.

Comparison of inflation in college tuition and...

Image via Wikipedia

Of course there are those institutions that cost upward of $35,000 a year in fees and tuition. However in many cases these colleges quite often benefit from larger endowments and greater opportunities for grant aid, meaning that there are quite often more financial aid opportunities available.

Current two-year colleges average $2,700 in fees and tuition. Include in that the few institutions that offer full scholarships to cover expenses or simply charge little to no tuition at all. But in the end price may not be the only factor you consider in choosing which college you wish to attend.

The average tuition and fees charged by four-year colleges is $7,600 a year if you live in state. If you attend a private college that figure jumps to $27,300 a year. But those costs don’t include the added expenses of living, eating and the purchase of books and other supplies.

It is important to consider any financial aid a person receives when calculating all these costs. Undergraduate students in 2009-2010 received in excess of $150 billion of financial aid. That was an average of $11,500 per student, including over $6,000 for grants that don’t require repayment.

In the end, there are methods available and choices that can be made which still make attending college an affordable option.

Filed Under: Career Paths, College Life Tagged With: Cost, Private university, Tuition payments

Out-of-State Colleges: Are they Worth the Extra Expenses?

Your dream might be to venture out of state for college. Whether the reason might be a particular school or just to get away for a different life experience, the cost of going to college in a different state costs more than staying in your home state. Although the extra expenses might be worth while in your case, there are some things to consider before making your decision.

College tuition is based on a credits. The average cost of a credit exceeds $300. Although there are some classes that are considered one credit, the majority of classes are worth three credit hours. This means that you are looking at an average of $900 or more per class. If you go to school full-time, you are looking at a semester cost of $2,000 or more. These averages are for in-state colleges. On average, an out-of-state college will charge you three times the tuition.

Aside from tuition, the cost of living may be higher if you go out-of-state. Some students who opt for enrolling in a college close to home often have the choice of living at home for a few additional years to save money. If you are looking to go to school away from home, you will have to consider the costs of a dorm, or even your own apartment. The cost of living might be higher in different states. Take for example, living in Florida and going to college in California, where the cost of living is higher in the latter.

Scholarships, grants, loans, and perhaps money from your parents might help your dream of going to an out-of-state school a reality. If you only have the option of loans, consider that you might be stuck paying back $40,000 or more at the end of your education. You might also consider living in another state for a year to establish residency before attending school. This way, you will be charged in-state fees.

Filed Under: College Life, Tuition Tagged With: California, Florida, Tuition payments