Compton Advisors, LLC

This Blog is a parallel site to our web site www.comptonadvisors.com. It contains notes, observations, thoughts and links.

Wednesday, April 29, 2015

Cost of College 2015-2016

The College Board has yet to release their 2015-2016 college cost averages, but working off last year's numbers, we are using the following for our planning for undergraduate costs. Starting at the top:

PRIVATE FOUR-YEAR

Tuition & Fees/Room & Board: $43,692

PUBLIC FOUR-YEAR (OUT-OF-STATE)

Tuition & Fees/Room & Board: $33,745

PUBLIC FOUR-YEAR (IN-STATE)

Tuition & Fees/Room & Board: $19,511

PUBLIC TWO-YEAR (IN-DISTRICT)

Tuition & Fees/Room & Board: $11,307

and because two-year students often live at home . . . 

Tuition & Fees only: $3,447

ASSUMPTIONS & CAVEATS

  • 2014-2015 averages (Source: College Board) adjusted for inflation
  • Reflects published costs before financial aid
  • Inflation assumptions:
    • Tuition & fees: 3.0% (or roughly 2x projected one-year CPI-U)
    • Room & board except two-year: 3.0%
    • Two-year room & board: 2.0%
  • These are national averages - your circumstances may vary greatly. The two-year numbers in particular are skewed heavily by California. Without California, tuition & fees are higher, but room & board is likely lower.

ITEMS OF NOTE

  • Last year, the trend of cost increases of roughly 2x inflation continued.
  • The big jump in tuition occurs at the state border, especially for prestigious state universities such as Michigan, Virginia, and the University of California system.



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