According to the College Board’s 2012 report at www. trends.collegeboard.org,
the average 2012-2013 cost for tuition and fees at public four year
colleges and universities is $8,655 and $29,056 at private four-year
non-profit universities. The report also states that tuition has risen
about 27% higher than inflation over the last six years. While college
may be costly, it still offers graduates higher earning potential than
non-graduates, making it a reasonable goal for many.
As with any major investment, it’s best to do research and compare
options. Luckily, available online tools enable side-by-side comparison
of costs, types of academic programs, graduation rates, and other
important factors.
The National Center for Education Statistics provides the online College Navigator at http://nces.ed.gov/collegenavigator.
This tool allows you to input the names of specific schools (or even
criteria) to build a list of schools and obtain side-by-side
comparisons.
The Consumer Financial Protection Bureau’s new database, www.consumerfinance.gov/paying-for-college,
helps build a customized college financial aid shopping sheet. This
database allows cost comparisons, options to pay those costs,
and projected debt levels at graduation.
The College Affordability and Transparency Center at http://collegecost.ed.gov offers links to additional comparison tools, such as the College Scorecard and the Net Price Calculator.
Purchasing a college education can indeed be the key to unlocking
earning and intellectual potential! But do shop carefully and
realistically to avoid buyers regret and too much debt.
