American University Tuition: The Most Expensive Colleges

Here, top 7 most expensive colleges with regard to their ranking among the best national universities are presented. Put your mind to the fact the tuition for Harvard is not included in it for understandable reasons.

  1. Columbia University tops our list with the annual tuition fee $57,208 and the 5th place at the national ranking. Notwithstanding the fact it is the most expensive college in the U.S., most students’ spending could be covered by the mix of grants and work-study, which are serious perks.

The college pledges to cover all expenses to its students, albeit it is a rare occasion to gain a student place in the Columbia University, which actually belongs to the Ivy League. Merely six percent of applicants succeed. If you are among them, you need to decide whether you are ready to pay for the education, which really costs an arm and a leg.

  1. Vassar College is a golden opportunity for you in case you are looking for a flexible curriculum. For the annual tuition fee $55,210 and the 12th place, you are free to opt for (or even devise) an own interdisciplinary major since there is no core curriculum existing. Nonetheless, you ought to know beforehand what you are going to do for a living. The financial aid packages are promised to meet the whole demonstrative need and, luckily, keep the loans at their minimum.
  2. Harvey Mudd College shares the 12th place in the national ranking with Vassar College. It is one of the extremely prestigious colleges where you can take a degree in engineering, math, or science. The annual tuition fee reaches $54,886 yet more than half of students (around 51%) carry off need-based award. The smallest STEM-oriented college in this list could be a right choice for everyone.
  3. University of Chicago takes one of highest place as reports The Chronicle of Higher Education, namely the 3rd with the annual tuition fee $54,825. This reputable institution allows its students to attain a loan-free package and graduate without debts. Its “No Barriers” program consists of around $150 million of students’ financial aid budget. It sounds fascinating and tempting, doesn’t it?
  4. Trinity College is on the 44th place and will not leave you out on a limb. With the combination of grants, study-work, and loans, it gives a helping hand for more than a thousand of students. The decisive advantage of this college is the low professor-to-student ratio (9-to-1). Nevertheless, there is the fly is the ointment. You have to cover the annual tuition fee $54,770 and supplementary $14,000 if have a mild yen to live on campus.
  5. Franklin and Marshall, a small liberal arts college that is ranked in the 39th place, dates back to 1787. Benjamin Franklin is said to have made the first donation of 200 pounds, which was quite a substantial sum at his times as it was enough to start a college in Lancaster, Pennsylvania. Indubitably, with the passing of time, the annual tuition fee is $54,380. Suffice it to say that the college pledges to meet the student financial need due to the vast number of grants and low-interest loans.
  6. Tufts College, the 29th place, is presumed to be relatively cheap only through the average award, which totaled $41,355 conforming to U.S. News. The annual tuition fee, $54,318, is huge, while the college itself is the alma-mater only for approximately 5,500 students. The need-based financial aid is going a long way toward helping almost every third student.

Are you about to enter any of the above-mentioned institutions? Do not hustle. It goes without saying that each decision should be made wisely. Read all the material you can find on the subject matter. Then clear your head from the train of thoughts. Let it sink. Deem all pros and cons. Remember that it is your decision, and you are the only one responsible for it. And before making foregone conclusions, find out all minuscule details about the college spending and your capabilities.

It is little wonder that the college tuition and fees are going up annually. No matter what academic establishment you are studying at – a nursery, primary, or secondary school, high school, college, or even university – the costs will be rising gradually every single year. The explanation of this problem is quite explicit: the prices fall under the influence of inflation.

You might ask both parents and students from each corner of the country yet receive the same answer. They will explain the rising of college tuition and fees as the result of rising costs on accommodation, recreation, as well as additional expenses on books and supplies.

Why Is College So Expensive: College Operation

The question “Why is college so expensive?” occupies the minds of thousands. The justification provided by the Bureau of Labor Statistics indicates the rapid growth of indexes. For instance, take into account your fuel, electricity, or water bills. Have you noted that the sum you are paying keeps growing with the flow of time? What is more, compare the prices for clothes in 2016 and today. You can see a considerable increase, can’t you? You can hardly find something inexpensive today. Consequently, the increase in the average salaries occurred.

Under present-day conditions, the professors, librarians, college administration, and other staff ought to be paid more. Additionally, the operation of any institution demands more and more money; the travel expenses are also going up. All this leads to charging higher tuition. Nothing could be done to reduce the expenditures. Moreover, the situation is exacerbated by the academic tenure. After the probationary period, the professors acquire the tenure and receive the permanent employment for the whole life. Obviously, it is the most plausible and principal reason for the rise of college expenses. Are you still asking why college is too expensive?

Why Does College Cost So Much: Value of Education

Students are going to college, enrolling in advanced courses, and engaging in extracurricular activities yet questioning “Why does college cost so much?” The reasoning behind the tuition hike could be found in the details provided by the Bureau of Labor Statistics again. According to its numbers, the unemployment rate dropped dramatically through the last decade along, whereas the rise in salary could be observed.

These figures tell us that people with higher education earn more and their chances for employment are higher as well. Point to one man in the entire world who is not striving for better chances of being well-employed. There is none, and that is why young people choose to obtain a degree. Where is the demand, there is the increase. The fundamental principle of the economy works for educational establishments, as well as for any other institutions.

Why Is College Tuition So Expensive: The Competitive Market

Like it or lump it, the educational industry also belongs to the competitive market. Colleges lead their own competition year after year. They are not quietly sitting and patiently waiting for the applicants – to be more precise, customers. They are attacking the potential students with the leisure, medical, and library facilities, introducing new technologies to the educational process. The aforementioned means that while competing for a higher rank, colleges are investing money. Not surprisingly, they want it back. The question, which comes to mind, is ‘who will pay for all this?’ Without a doubt, students will.

In addition, setting prices slightly resembles keeping up with the Joneses. Just the minute one college increases its costs the others perceive it as a permission to raise the rates. The college administrations justify their actions by various reasons yet all of them are excuses. It is the domino effect, which spreads to every nook and cranny of the land. Furthermore, the educational institutions, which keep their rates low, are regarded as sub-par and undermine the credibility and value of the education they offer.

Why Do Colleges Cost Too Much: The Absence of Government Support

There are two types of investments: the federal one and the state’s one. The federal financial support is aiming to come to the students’ aid. Quite the contrary, the states are providing financial backing of the institutions’ operation. Unfortunately, despite focusing the funds on the universities investments, the states started to allocate fewer resources after the Great Recession.

Needless to say, we have recovered from the recession yet the expenditures have reduced since those times. The higher institutions are still funded as at the beginning of the 21st century. Now, when it is proved that the colleges receive less investment from the states, who do you think will invest instead?

The Outcome: Getting into Arrears

What we can observe at the moment are the number of student loans and the students buried under them. Students are playing by the rules established by the educational institutions and scraping together to obtain a degree, make a fast buck, and give the money back. It is a vicious circle without an obvious way-out. Students will either continue drowning in debt and their loans will rise even more or stop seeking higher education and the colleges will cut down the tuition and fees.

Hopefully, this article gave you a full insight into the quandary of expensive tuition. The actions should be taken toward this mind-boggling issue, so we invite our readers to carve out time in order to participate in the discussion. Who knows, maybe you will be the one, who will find the solution to the current state of affairs.