Average cost of college

The cost of college in the U.S. has nearly tripled over the last four decades — and things don’t seem to be slowing down, especially now that sky-high inflation is making everything more expensive.

For the 2021-22 academic year, the average cost of tuition and fees for public four-year schools came out to $10,740 for in-state students and $27,560 for out-of-state students, according to the latest data from College Board. Private nonprofit four-year schools amassed a much higher $38,070 average. Add room and board, books and other expenses to the mix, and that bill goes up several thousand dollars more.

Here’s everything you need to know about college costs, including how much tuition has changed over the years and trends that have contributed to these ever-rising costs.

Key college cost statistics

• In the 2021-22 school year, the average annual cost of tuition and fees at a public four-year university was $10,740 for in-state undergraduates and $27,560 for out-of-state undergraduates. Adding in room and board, supplies and other expenses brings that total to $27,330 and $44,150 for in-state and out-of-state students, respectively.
• In the 2021-22 school year, the average annual cost of tuition and fees at a private nonprofit four-year university was $38,070. With room and board, supplies and other expenses, that total rises to $55,800.
• The average annual cost of community college was $3,800 in tuition and fees and $18,830 inclusive of room and board and other expenses for the 2021-22 school year.
• Vermont, Massachusetts, New Hampshire, Connecticut and New Jersey are some of the most expensive states in which to get an undergraduate degree. Florida, Idaho, Montana, Utah and Wyoming are some of the cheapest.
• 16.2 million students are enrolled in college in the U.S. as of spring 2022.

Average cost of college

The average cost of college in America depends on the type of college you attend and where you attend. Out-of-state students pay much more than in-state students, since nonresident students don’t pay taxes to the state in which they attend school.

Private colleges are usually the most expensive option because public schools receive funding from the federal government, whereas private colleges receive most of their funding through tuition costs and private donations.

The average cost of college also differs by degree level. A bachelor’s degree costs much less annually than a doctoral degree, though keep in mind that most advanced degrees take only one to two years to complete, while a bachelor’s degree generally takes four years to complete.

Average cost of college by school sector, 2021-22

Source: College Board

Average cost of college by classification, 2021-22

Source: College Board

Cost of college for undocumented students

Undocumented students face additional challenges when it comes to financing a college education. Undocumented students — including Deferred Action for Childhood Arrivals (DACA) recipients — aren’t currently eligible to receive federal financial aid. While the Biden administration proposed allowing DACA recipients to receive federal aid opportunities, nothing has been announced by the administration about signing this into law.

Undocumented students are lawfully entitled to a K-12 public education, regardless of state. However, this law doesn’t extend to higher education, and each state has different provisions regarding undocumented students and their ability to attend public schools or receive state aid. Here’s a breakdown of what states allow in regards to postsecondary financial aid, according to the Higher Ed Immigration Portal:

• There are 23 states that allow in-state tuition for undocumented students: California, Colorado, Connecticut, Florida, Hawaii, Kentucky, Virginia, Illinois, Kansas, Maryland, Minnesota, Nebraska, Nevada, New Jersey, New Mexico, New York, Oklahoma, Oregon, Rhode Island, Texas, Utah, Washington and Washington, D.C.
• Nineteen states allow undocumented students to receive state financial aid: California, Colorado, Connecticut, Hawaii, Illinois, Maryland, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, Oklahoma, Utah, Rhode Island, Virginia, Texas, Washington and Washington, D.C.
• Ten states prohibit in-state tuition and/or state financial aid for undocumented students: Alabama, Arizona, Georgia, Indiana, Missouri, New Hampshire, North Carolina, Ohio, South Carolina and Wisconsin.
• Three states prohibit undocumented students from enrolling at public institutions: Alabama, Georgia and South Carolina.

Cost of college over time

College tuition costs have been steadily increasing over time, which student loan lender Earnest attributes to recruitment costs, capital improvements, administrative staff expansion, higher staff salaries and more.

Accounting for inflation, College Board has found that public two-year tuition and fee costs have increased by 7 percent since the 2011-12 school year. Public four-year tuition and fees have increased by 9 percent in that time, and private nonprofit four-year tuition and fees have increased by 14 percent. The percentage change increases even more when you add in the cost of room and board, books, supplies and other expenses.

Average undergraduate tuition and fees in 2021 dollars

Source: College Board

Average cost of college by state

The average cost of public universities and colleges varies by state. The size of the state, the population and the number of colleges in each state are all factors that impact the average cost of college.

Average cost of undergraduate college tuition and fees by state, 2020-21

Source: National Center for Education Statistics

Average cost of college by university

The school that you attend is the biggest factor in determining how much student loan debt you could end up with. Generally, the more prestigious and well-known the university, the more expensive it will be.

Average cost of college at America’s most well-known universities, 2022-23

Average cost of college at America’s flagship universities, 2022-23

Average financial aid

College Board found that undergraduate and graduate students received $234.9 billion in grants, work-study, federal student loans and federal tax credits in the 2020-21 school year. On average, graduate students take out larger federal loans than undergraduate students, while undergraduate students receive more grant aid and tax credits. The average financial aid below does not include private scholarships or private student loans, which can also cut down the cost of college significantly.

Average financial aid per student, 2020-21

Source: College Board

What does the cost of college pay for?

According to OneClass, for every $100 you spend on tuition, $61.46 goes directly toward education-related costs like staff salaries and facility upkeep. The other $38.54 goes toward noneducational expenses.

The largest spending categories are as follows:

• Eighty-one percent of your tuition goes toward salaries.
• Fifty-eight percent of your tuition goes toward hospitals.
• Sixty-six percent of your tuition goes toward research.
• Forty-seven percent of your tuition goes toward other instruction expenses.
• Sixty-one percent of your tuition goes toward auxiliary enterprises.