How Much Does College Cost?

Many people overestimate the cost of attending college, or believe that all schools are too expensive. Although many colleges are expensive, costs do vary from school to school, and in addition, the availability of scholarships and financial aide can make even an expensive university affordable for a qualified student.

Tuition is the most expensive part of the overall cost of college. Tuition is the amount of money that a college charges for instruction and for the use of its facilities, such as the school's libraries. Tuition can range from a few hundred dollars per year to over $20,000. The least expensive tuition option is typically to attend a local community college where the average tuition and fees are generally under $1,500 per year. However, many state colleges and universities will give tuition benefits to students who are residents of that state. When researching colleges it is also important to note whether or not they are a public or a private institution as a school's private or public status has a lot to do with its tuition.

When the costs of housing, textbooks, supplies, transportation and other personal expenses are added to tuition and fees, the cost of college can add up. Financial aid can help you meet the cost of attending college. Each year millions of students apply for and receive financial aid for college, in fact, almost half of all students who go on to receive higher education receive some kind of financial aid. Financial aid can include grants and scholarships, loans or work-study programs, and is typically rewarded on either a merit-based or need-based basis.

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