[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

Cost of College in 2020

[/vc_column_text][vc_column_text]At this moment, there are more than 20 million students in colleges and universities. They are paying more than ever for their education. And in just the last five years, the average cost of college in the USA has increased considerably. It is important to know that all of the professions are increasing. It is not just one or two of them. Consequently, if you are seeking a less expensive profession, know that you will be paying increasingly more each year.[/vc_column_text][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

Average college tuition cost

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Approximate cost of a college tuition

[/vc_column_text][vc_column_text]The tuition covers the academic aspects of your college experience. You can pay by credit or by semester. Those who pay by semester have the best rates.  For the school year 2019-2020, the tuition in a private university costs an average of $36,880.[/vc_column_text][vc_column_text]Public universities charge in-state students an average of $10,440. For out-of-state students it is $26,820. During your time in school, the annual price will increase on average by 2.4% annually for private institutions. It will increase 3.2% on average for public ones.[/vc_column_text][image_with_animation image_url=”1101″ animation=”Fade In” hover_animation=”none” alignment=”center” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][vc_column_text]Image Source: College Board, Trends in College Pricing 2019.[/vc_column_text][divider line_type=”No Line” custom_height=”15″][vc_column_text]

Annual Living Expenses

[/vc_column_text][vc_column_text]Including room and board, the overall university cost increases significantly. The data presented by  Collegedata.com  shows that in-state students in 4-year state institutions pay more for room and board than for tuition, which is $11,510. Their total cost is $26,590.[/vc_column_text][vc_column_text]Out-of-state students pay the same $11,510 for room and board. The total cost is $36,420. Private universities charge somewhat more at$12,990 which raised the total cost to $53,980.[/vc_column_text][image_with_animation image_url=”1100″ animation=”Fade In” hover_animation=”none” alignment=”center” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

How much does and associate degree cost in 2020?

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Associate Degree

An Associate Degree takes about two years to complete. Most are done in community colleges. For students in an Associate Degree program, the annual tuition cost is about $3,570 in public institutions. Private 2-year institutions charge considerably more, with an average of $14,587.[/vc_column_text][vc_column_text]

Annual cost for an Associate degree program

Students in 2-year community college programs generally commute daily. That is a sure way to save money. Nonetheless, it has its own costs. The National Center for Education Statistics found that those who live at home spend an average of $3,939 for living expenses. Those who live off campus alone or with roommates, spent about $8.235.[/vc_column_text][vc_column_text]What happens with transportation costs?  Unless their parents work in the college or they can walk to school. The students must drive or take a bus. Those who drive spend money on gasoline, maintaining their car, parking, and car insurance. The colleges estimate transportation costs are on average of $1,780 annually.[/vc_column_text][vc_column_text]Adding the cost of tuition, room and board and transportation results in an annual cost of:

• $9,289 for public university students living at home
• $20,602 for private university students living at home
• $13,585 for public university students who live off campus and not at home
• $24,602 for private university students who live off campus and not at home

[/vc_column_text][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

How much does a Master’s program cost?

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Master’s program

Students need between two and five years to complete their Master’s program. The cost of the program depends in large part on the field of study and the type of university. Starting in 2020, the average cost for a Master’s program tuition is $9,751 in public universities and $24;107 in private universities.[/vc_column_text][vc_column_text]

Annual cost for master’s degree students

Many factors determine the cost of a Masters’ program. The simplest are tuition, food and board. For the school year 2019-2020, public university students spent an average of $10,020 in room and board.  Private university students spent $11,490. Considering all expenses, Masters’ Degree students spent $18,690 and $41,450 respectively.[/vc_column_text][vc_column_text]

Changes in the university costs over time

Has the average cost of a university always been high?  Yes they have. And If historical trends continue, they will keep increasing. Comparing the costs for tuition, food and board for the year 2008-2009 with the year 2018-2019 confirms it. During this period, costs increased annually 2.7% for 4-year public schools, and 2.2% annually for private 4-year institutions.[/vc_column_text][vc_column_text]The 2-year public institutions increased their annual costs by 2.8%.  During this same 10 year period, the Master’s Degree program costs increased by a total of 45% for public universities and 16% for private ones.[/vc_column_text][vc_column_text]Look at the following chart to see the increase in tuition costs over the past 10 years.[/vc_column_text][image_with_animation image_url=”1102″ animation=”Fade In” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][vc_column_text]

Rising Cost of college 2008-2019

[/vc_column_text][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

How much does and associate degree cost in 2020?

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Cost of Books and Materials

Don’t forget to include the cost of books in the cost estimate. On average, four-year university students spend annually about $1,298 in books and materials like art materials or laboratory equipment, This increases by $4,800 the costs over four years for a student. Usually you can find book costs and other expenses in each college’s website. For the most part, you can purchase used books in order to save some funds.[/vc_column_text][vc_column_text]

Graduation rates affect costs

The graduation rates analyze the time it takes students to graduate.  They are viewed 100% within the normal time or withing 150% of the normal time. For 4-year programs, they track the percent of students graduating in 4 years and in 6 years. For 2 year programs, they track graduations in 2 years and 3 years.

[/vc_column_text][vc_column_text]To calculate the cost of your degree, look at the graduation rate for your university. If the rate is high, then it is likely you will graduate on time or within the 150% benchmark. If it is low, it can take more time to finish and cost much more.[/vc_column_text][vc_column_text]

Graduation Rates for Undergraduate Students

It makes sense to assume your undergraduate studies will take four years to complete. Nonetheless, for a majority of students, that is not the case. A trend is that full-time undergraduate students will take six years to graduate. Accordingly, the government considers that graduating with your undergraduate degree in six years is to graduate on time. Those students who take that time to graduate, will end up paying 50% more than they had expected for their degree.[/vc_column_text][vc_column_text]The graduation rates vary considerably depending on the university. However, looking at the average graduation rates for fulltime students in 4-year institutions will give you a good picture.[/vc_column_text][vc_column_text]The graduation rates tracked for 2-year colleges reflects the percent of students finishing in three years. For a private 2-year college, the average graduation rate is 55.7%. For a public 2-year college, it is only 21.9%. To increase your chances of graduating on time, go with a plan to a community college. This will ensure the total cost of your associate degree is much lower.[/vc_column_text][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

Average Student loan debt for university graduates.

[/vc_column_text][vc_column_text]To completely understand the average university cost, you need to know the average student debt. You won’t end paying for the university the day you obtain your degree. Instead, most students keep paying for their college expenses for 21 years after graduating.[/vc_column_text][vc_column_text]Student loan debts for Associate degrees

In public 2-year colleges, students have an average debt of $7,000 upon graduation. Only 9% of graduates finish with more than $20,000 in debts. In 2012, approximately 59% of graduates did not borrow at all. For those who borrowed, about 19% did not repay their loans, more than double the rate for 4 year degree holders.[/vc_column_text][vc_column_text]Student Loan debts for Bachelor degrees

The graduating bachelor degree holder in 2015 graduated with $30,100 in student loans. It was $32,300 for private institutions and $25,550 for public institutions. Almost 20% of these graduates asked for private loans, which carry higher interest rates.[/vc_column_text][vc_column_text]Student Loan debts for Master degrees

Students seeking a bachelor’s degree borrow heavily. But graduate students borrow three times as much. In 2015-2016, graduate students borrowed an average of $18,210 in comparison with $5,460 for a bachelors’ degree. After two to five years in graduate school. a graduate leaves with an average of $51,000 in student debts.[/vc_column_text][vc_column_text]With such a large debt, master’s degree holders carry approximately 38% of the national student loan debt of 1.4 billion dollars. The master’s degrees of master’s, MBA, education, medicine and law represent about 61.8% of the debt for graduated students.[/vc_column_text][divider line_type=”No Line” custom_height=”15″][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

The cost of university opportunity

[/vc_column_text][vc_column_text]In addition to assuming considerable debts, university students also lose the money they would have gained if they weren’t in school. Starting in 2017, master’s degree seekers forgo an average of $49,785 annually which is the amount those with bachelor’s degrees earn. Those students lose $49,000 for a four-year program and $20,000 for a two-year program. On average, it takes bachelor’s degree holders 12 years to recover the tuition costs plus lost salaries. At 34 years of age, most of these students finally catch up and surpass their counterparts.[/vc_column_text][vc_column_text]When considering the cost of a university, take into account more than just the average tuition and maintenance costs. Factors like the graduation rate, interest rates, and other related costs can have more of an impact than you had assumed.[/vc_column_text][divider line_type=”No Line” custom_height=”15″][image_with_animation image_url=”1024″ animation=”Fade In” hover_animation=”none” alignment=”center” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default” el_class=”popiup”][/vc_column][/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]

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Do you have to repay your student loan debts?

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