August 21, 2023

Are you prepared for a $145,744.00 bill for 4 years of college expenses?

The average cost of college* in the United States is $36,436 per student per year, including books, supplies, and daily living expenses.

  • The average cost of college has more than doubled in the 21st century, with an annual growth rate of 2% over the past 10 years.
  • The average in-state student attending a public 4-year institution spends$26,027 for one academic year.
  • The average cost of in-state tuition alone is $9,678; out-of-state tuition averages $27,091
  • The average private, nonprofit university student spends a total of $55,840 per academic year living on campus, $38,768 of it on tuition and fees.
  • Considering student loan interest and loss of income, the ultimate cost of a bachelor’s degree can exceed $500,000.

*In this context, college refers to any 4-year postsecondary institution that offers an undergraduate degree program; this is the average cost to first-time, full-time undergraduates.

Feel free to get in touch with us by dialing 901-435-4250. We're here to assist you in devising a comprehensive plan for your children's education.

Source: Education Data Initiative

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