Average Cost of College & Tuition

Report Highlights. The average cost of college^* in the United States is $38,270 per student per year, including books, supplies, and daily living expenses.

• The average cost of college has more than doubled in the 21st century; the compound annual growth rate (CAGR) of tuition is 4.04%.
• The average in-state student attending a public 4-year institution and living on-campus spends $27,146 for one academic year.
• The average cost of in-state tuition alone is $9,750; out-of-state tuition averages $28,386.
• The average private, nonprofit university student spends $58,628 per academic year living on campus, $38,421 of it on tuition and fees.
• Considering student loan interest and loss of income, investing in a bachelor’s degree can ultimately cost in excess of $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.

^**CoA does not account for potential lost income, student loan interest, nor moving expenses.
^†Out-of-state tuition estimate based on the previous year’s cost and the annual growth rate.

Related reports include Student Loan Debt Statistics | Average Cost of Community College | How Do People Pay for College? | Student Loan Refinancing | College Degree Return on Investment

Average Total Cost of College

The cost of attendance (CoA) refers to the total cost of tuition and fees, books and supplies, as well as room and board for those students living on campus. CoA does not include transportation costs, daily living expenses, student loan interest, etc.

• The average cost of attendance for a student living on campus at an in-state public 4-year institution is $27,146 per year or $108,584 over 4 years.
• Out-of-state students pay $45,708 per year or $182,832 over 4 years.
• Private, nonprofit university students pay $58,628 per year or $234,512 over 4 years.
• While 4 years is the traditional period to earn a bachelor’s degree, just 42.0% of bachelor’s degree-seeking students graduate within that time.
• 97% of confirmed bachelor’s degree earners graduate within 6 years; the 6-year average cost of attendance is $229,620.
• Students unable to work full-time stand to lose a median annual income of $46,748.
• Student borrowers pay an average of $2,636 in interest each year, and the average student borrower spends roughly 20 years paying off their loans.
• Considering lost income and loan interest, the ultimate price of a typical bachelor’s degree may be as high as $562,868. To see the potential return on investment, click here.

^††Cost of Degree does not account for potential lost income, student loan interest, nor moving expenses.

Average Cost of Tuition

Tuition and fees make up the bulk of most college student’s educational expenses.

• $17,709 is the average cost of tuition at any 4-year institution, representing 46.3% of college costs for a first-time, full-time student living on campus.
• $9,750 is the average cost of in-state tuition at public 4-year institutions, representing 35.9% of the cost of attendance for a full-time student living on campus.
• $28,445 is the cost of out-of-state tuition at public 4-year institutions, representing 62.1% of the cost of attendance for on-campus students.
• Among private 4-year institutions, the average tuition and fees at a typical nonprofit college total $38,421 annually, which is equivalent to 65.5% of college costs for a student living on campus.
• At a typical for-profit institution, tuition and fees average $15,868 annually, which is equivalent to 47.3% of the cost of attendance for an on-campus student.
• The average cost of tuition and fees at any 2-year institution is $3,885 or 22.3% of the cost of attendance.
• At public 2-year institutions or community colleges, in-district tuition and fees average $3,598 annually, which is equivalent to 21.6% of the cost of attendance for full-time students living on campus.
• Out-of-district tuition and fees for the average public 2-year institution total $8,622 annually, which is equivalent to 39.8% of the cost of attendance.
• At private 2-year institutions, students pay $20,019 in annual tuition and fees to attend nonprofit schools; tuition is 55.6% of the cost of attendance.
• Private, for-profit 2-year colleges charge $16,444, which is 61.7% of the cost of attendance.

Historical Average Cost of Tuition

The cost of tuition has increased significantly over the last six (6) decades even after adjusting for inflation.

• In 1963, the annual cost of tuition at a 4-year public college was $243, which had the same buying power as $2,489 in November 2024 currency values.
• From 1963 to 2022, the cost of tuition at a 4-year public college increased at a CAGR of 2.34% after adjusting for inflation.
• Between 2012-13 and 2022-23, the average tuition increased 25.6% at all 4-year colleges (before adjusting for inflation).
• During the same period, the average in-state tuition increased 20.8% at public 4-year institutions and 33.7% at private, nonprofit 4-year institutions.
• From 2012-13 to 2022-23, the average tuition increased 16.9% at 2-year colleges (before adjusting for inflation).
• During the same period, the average in-district tuition increased 28.9% at public 2-year institutions or community colleges.
• From 2000 to 2020, average postsecondary tuition inflation outpaced wage inflation 111.4%.
• In 1963, the cost of a 4-year-degree from a public university was $3,716.‡‡
• In 1989, the same degree cost $19,900.‡‡
• As of the 2022-23 academic year, $89,556 is the price of a bachelor’s degree.^‡‡

^‡‡Cost of tuition and required fees, room, and board assuming an in-state public institution attendee completes their bachelor’s degree program in 4 years.

Average Cost of Books & Supplies

Because some programs require more expensive materials than others, the cost of textbooks and supplies varies widely.

• At public 4-year institutions, students pay an average of $1,220 annually for textbooks and supplies.
• Books and supplies at private, non-profit institutions average $1,215; at private, for-profit institutions, the average cost is $990.
• At public 2-year institutions, students pay an average of $1,467 each year for books and supplies.
• At private, nonprofit institutions, books and supplies average $930; at private, for-profit 2-year colleges, the average cost is $1,501.

Average Cost of Room & Board

The determining factor in the cost of student housing is whether the student lives on or off campus.

• At 4-year institutions, the cost of room and board is $12,917.
• At public 4-year institutions, students living on campus pay an average of $12,302 annually for room and board; off-campus boarders pay $11,983.
• At private, nonprofit institutions, on-campus boarders pay an average of $13,842 per academic year; students living off campus pay $10,876.
• At private, for-profit institutions, on-campus room and board average $9,151; students living off campus pay an average of $9,564.
• At 2-year institutions, room and board costs $7,717.
• At public 2-year institutions, students living on campus pay an average of $7,420 for their annual room and board; students living off campus pay $10,738.
• At private, nonprofit 2-year colleges, on-campus boarders pay $12,732 annually; off-campus boarders pay $10,397.
• Private, for-profit institutions charge $7,920 on average for room and board; students living off campus pay $9,434.

Average Additional Expenses

Necessary living expenses, such as transportation, personal care, and entertainment, may be included in the final total cost of college attendance. These expenses vary according to the local economy as well as the student’s housing status.

• Tallies of college costs often neglect to include the price of SAT prep courses; the most reputable and intensive programs can cost $5,000 or more.
• Additional expenses for a typical college student may exceed $5,000.
• Students living on campus at a public 4-year institution pay an average of $3,790 in additional annual expenses.
• Students who live off campus may expect to pay $4,720 if they do not live with family; for students living with family, additional expenses average $4,654.
• At private, nonprofit 4-year institutions, students living on campus spend an average of $2,858 on additional expenses.
• Nonprofit private college students living off-campus alone or with nonfamily members spend $4,715 on additional living expenses; those living off-campus with family spend $4,352.
• At private, for-profit institutions, additional expenses average $5,192 for 4-year students living on campus.
• Students at for-profit private colleges who live off campus spend an average of $5,276; those who live off campus with family spend $4,654.
• Students living on campus at a public 2-year institution pay an average of $3,728 in additional annual expenses.
• Students living off-campus pay $4,678 in additional expenses; students living off-campus with family have an average of $4,705 in annual expenses.
• Students living on campus at 2-year private, nonprofit institutions pay an average of $2,847 in additional annual expenses.
• Students at 2-year private nonprofits living off campus alone or with nonfamily members spend $5,582, while students living off campus with family members spend $4,753.
• Students at private, for-profit 2-year institutions spend an average of $918 on additional expenses if they live on campus.
• Private, for-profit 2-year students living off-campus spend $5,116 if they do not live with family members; students who live off campus with family spend an average of $4,406.

Average Cost of Lost Income

One of the largest expenses for students enrolled in college may be the loss of potential income in time spent studying instead of working.

• The median weekly income for a high school graduate is $899, or $46,748 per year.
• In four (4) years, the average worker with a high school diploma may earn $186,992.
• The unemployment rate among high school graduates is 3.9%, which is 77.3% higher than the unemployment rate among bachelor’s degree holders.
• The unemployment rate among high school graduates is 30.4% lower than unemployment among workers who did not complete high school.
• 18- and 19-year-olds have an average unemployment rate of 12.5%; workers aged 20 to 24 years have an average unemployment rate of 7.8%.

Average Cost of Borrowing for College

Most students borrow money to attend college, later repaying the principal plus interest. All of these values compound the longer the student is in school.

• The average federal student loan debt is $38,375.
• Student borrowers pay an average of $2,636 in interest each year,
• The standard repayment plan for federal student loans lasts 10 years; the longest federal loan repayment plan available is 30 years.
• The average student borrower spends closer to 20 years paying off their loans.
• Each year, 85.2% of new undergraduates borrow money to pay for college.
• Among all undergraduates, 28.6% receive federal loans.
• The average first-time, full-time student borrows more than $7,709 in federal loans to attend school.
• Among all undergraduates, $6,575 is the average federal student loan awarded for the academic year.
• First-time, full-time students also receive an average of $5,288 in grant and scholarship aid.

See our reports on Student Loan Debt and How to Pay for College to learn more. 

Average College Costs by State

The average cost of in-state tuition and fees varies from state to state and year to year. The difference between the lowest and highest average is $13,060.  

• The most expensive public schools are in the Northeast, in and around what is traditionally called New England.
• Many of the most expensive private schools are also on the East Coast.
• The average tuition among the 10 most expensive states for public universities is $15,542.
• The least expensive schools are in the South and Plains regions; the least expensive private schools are also predominantly in the South.
• The average tuition among the states with the most reasonably priced public universities is $6,660.

For more information, see our report on the Average Cost of College by State.

^§No data for Wyoming.

Average State College Costs

Most public institutions receive funding from state and local governments. Colleges also receive federal funding through financial aid to students.

• Federal grants and contracts provide public postsecondary institutions 8.64% of their revenue.
• 4-year public institutions receive 9.10% of their revenue from federal grants and contracts.
• Federal grants and contracts pay for 5.60% of 2-year public institutions’ revenue.
• State governments fund an average of 2.23% of public postsecondary revenue.
• 17.57% of revenue comes from tuition and fees.

For more on education spending, see our report on U.S. Public Education Spending.

Analysis: Room and Board On and Off Campus

Living expenses are the second-largest cost of college after tuition and fees. Whether it is less expensive to live on or off campus depends on local rental markets. Colleges do not always accurately represent off-campus living costs, either; estimates make a number of assumptions regarding personal expenses, such as health insurance and food prices.

Stanford University lists average local rent prices from 2018 on its student housing website. According to Stanford, one (1) year in a shared 2-bedroom apartment within the San Francisco-San Jose urban sprawl would cost each student between $19,200 and $22,770; inflation-adjusted to November 2024 dollars, this is equivalent to $24,034 and $28,503. Meanwhile, room and board on campus costs between $15,784 and $20,264 for the 2024-25 academic year.

Across the bay in Oakland, The University of California-Berkeley, meanwhile, estimates that new students for 2024-25 pay up to 10.6% more living in an on-campus residence hall than they do living in a rented off-campus apartment. UC estimates students pay roughly $12,300 for apartment rental.

According to a nonpartisan office of the California state legislature, the state-wide monthly rent for a 2-bedroom “typical property” was $2,748 in September 2024. In San Francisco, the average rent was $3,477; shared between two roommates, this is equivalent to $1,739 per month/ $20,868 per year.

Such discrepancies can make budgeting difficult. Furthermore, other expenses that add to the cost of living vary from market to market. Groceries purchased in Iowa are much less expensive than groceries in Manhattan’s Lower East Side. Students may be able to temporarily reduce their cost of living using financial aid. Using student loans for living expenses, however, ultimately increases the student’s loan debt, including interest.

Sources

1. National Center for Education Statistics (NCES), Integrated Postsecondary Education Data System (IPEDS)
2. NCES, Digest of Education Statistics
3. U.S. Bureau of Labor Statistics (BLS), Career Outlook
4. New America, In the Interest of Few
5. Forbes, Private Student Loan Interest Rates
6. CNBC, This is The Average Age When People Finally Pay Off Their Student Loans for Good
7. One Wisconsin Now, Twenty to Life: Higher Education Turning into Multi-Decade Debt Sentence
8. BLS, Consumer Price Index Inflation Calculator
9. Social Security Administration, National Average Wage Index
10. U.S. Department of Education (ED) College Affordability and Transparency Center
11. Stanford University, Community Housing: Housing Types and Costs
12. ED Office of Federal Student Aid
13. University of California – Berkeley, Student Budgets (Cost of Attendance)
14. BLS, Labor Force Statistics from the Current Population Survey
15. California Legislative Analyst’s Office, California Housing Affordability Tracker