Skip to content
Home » News » Education » College costs skyrocketing, will cost more than $90K on average this fall: Can financial aid help?

College costs skyrocketing, will cost more than $90K on average this fall: Can financial aid help?

  • / Updated:
  • Staff Report 

As high school graduates finalize their college choices, many are confronting costs up to $95,000 at some private institutions for the upcoming fall semester. This marks the first time annual expenses for tuition, board, meals, and other fees have crossed the $90,000 threshold at several colleges, both elite and middle-tier. For families with multiple children, this could mean spending over a million dollars on education. However, the headline figures don’t tell the full story, with substantial financial aid packages available to lower-income students, potentially making elite private colleges more affordable than public ones.


Wellesley College, where costs for affluent students will exceed $90,000 for the first time this fall, highlights that nearly 60% of its attendees receive financial aid, significantly reducing their out-of-pocket expenses. Despite generous aid programs, complications with a new U.S. Department of Education form for federal aid have caused delays and concerns, potentially impacting college choices for students unaware of the final cost they will need to pay.

Colleges with sticker prices over $90,000 include the University of Southern California and Harvard University, which boasts an average parent contribution of just $13,000 thanks to its massive endowment. Meanwhile, the College Board reports average costs for private colleges at $60,000 last year, suggesting a wide gap in affordability and emphasizing the importance of financial aid and informed decision-making for prospective college students.



Tags:
Categories: EducationNews