Attendance at a public four-year college costs $23,200 a year on average, according to new research by the National Center for Education Statistics. With grants, that price falls to $18,000 a year.
The out-of-pocket cost for a four-year public college is $11,800 a year. That cost is only the immediate one — it does not include the long-term cost of student loans that must eventually be paid back, nor does it include federal tax breaks that might apply.
The total price includes tuition, room and board, books and supplies, transportation and personal expenses.
Despite a total price almost twice as high as four-year public colleges, four-year private nonprofit colleges have an out-of-pocket price only $6,300 per year higher. Private nonprofit colleges give grants to nearly three out of four students, a greater portion than any other type of institution. Public four-year colleges give less than one-third of their students grants. Students at private nonprofit colleges also receive more private grants, but that gap is only 8 percent.
Taking into account aid from all sources, private nonprofit four-year students receive $27,800 a year on average, more than double the $13,600 averaged by public four-year college students. This includes short-term aid from loans.
Public two-year colleges cost $15,000 a year total, $11,700 a year after grants and $9,900 a year in average out-of-pocket net price. Although the average tuition is only $2,800 a year, non-tuition expenses are $12,200, only moderately smaller than non-tuition expenses at other institutions. More than half of undergraduates at public two-year colleges receive federal grants, while one in five receive state grants or institutional grants.
After grant aid, students in low-income families pay $12,300 a year for a public, four-year college or $19,700 a year for a private nonprofit four-year college. Students from high-income families pay almost twice as much, paying $22,800 a year for a public, four-year college or $35,500 a year for a private nonprofit four-year college.
Almost two in five undergraduates are enrolled in public, four-year colleges, while public two-year and private nonprofit four-year colleges each have one in five undergraduates enrolled.
Federal grants go to students at for-profit colleges receive more than any other type of institution. Three-quarters of for-profit students receive federal grants, compared to 43 percent of public four-year students and 38 percent of private nonprofit students.
