CNN’s running an article about the rising cost of getting a college education. According to the article, the average cost of a year of school at a private four-year college is $32,307 ($23,712 if you leave off housing expenses). Ouch!
The news is a little better if you’re interested in going to a public college. It’ll only cost you $13,589 per year ($6,185 if you’re lucky enough to not need housing).
When you consider that about half of the people who attempt to go to a four-year school don’t get a degree after six years of trying, that’s a lot of money to spend up front – even in more modestly priced public colleges. The costs are also going up. Cost is increasing at a slightly faster rate for public colleges (probably due to states getting stingier with funding), but has a long way to go to overtake the private schools.
The costs of going to a two-year college are also increasing, but by a much lower percentage. A year at an average two-year public college will only cost $2,361. That’s not including housing, but most two-year college students live at home.
And here’s the part where I sound like an advertisement: Looking to go to college, but not sure you can afford either the money or the time? Try taking courses at your local community college. Most of them have agreements with four-year schools in their state for transfer of credits. It’s a much cheaper way to get a year or two of college courses than even a public four-year college. If you decide that four years of college are too much, you can instead pursue a two-year degree that’ll still earn you a good salary. (Associate’s degrees in nursing, for instance, are in much greater demand than many bachelor’s degrees in other subjects.)
So don’t forget about your local community college. They typically provide a good education without eating such a large hole in your wallet. (And yes, I teach at one. If you take one of my classes, you can learn about the fine art of blowing stuff up. 🙂 )