Most Expensive Colleges in the US: Higher education has never been more expensive than it is today, and students are looking to get the most out of their degree while also saving money where they can.
In this article, we’ll cover the 6 most expensive colleges in the US and reveal some of the factors that contribute to high tuition costs.
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Harvard University is worth 66,838 per year. One of America’s most prestigious universities and one of its oldest, Harvard University is a private research university in Massachusetts, USA. Not only is it one of the wealthiest institutions in existence, but Harvard also educated some of our nation’s greatest politicians, produced multiple Supreme Court justices, and it was where Mark Zuckerberg received his education.
Notable alumni of the school include Neil Armstrong and Buzz Aldrin (the astronauts), Matt Damon, Natalie Portman, and Ben Affleck. the noted comedians are as follows: Stephen Colbert, John Updike, Toni Morrison, and Sylvia Plath. Leonard Bernstein, composer and E.O. Wilson, scientist.
Tuition, room and board, and other fees total $52,290 per year. Students are charged a health fee of $1,500 annually. Books and supplies cost an additional $1,200. Room and board costs $14,780 per academic year.
The average financial aid award is $43,890. Approximately 70% of students receive some type of financial aid or scholarship aid to help offset college costs.
The average annual amount awarded is $41,076. Princeton offers need-based grants as well as merit-based scholarships to undergraduates who demonstrate exceptional academic achievement in high school or through their standardized test scores during their application process for admission to Princeton University.
$45,838/year including board. Stanford provides need-based financial aid to 20% of students from families making less than $60,000 and all students from families making less than $100,000. The average grant is $46,500 per year. It’s not just tuition that makes Stanford one of America’s most expensive colleges room and board costs an additional $14,908 per year on top of that.
But for those who can afford it, its reputation as a world-class university is well deserved: The school boasts seven Nobel laureates among its faculty members (more than any other American college) and was recently ranked #1 by U.S News & World Report for graduate programs in both business and engineering.
Massachusetts Institute of Technology (MIT)
The Massachusetts Institute of Technology offers students a unique educational experience. Its highly-selective admissions process ensures that only students with exceptional academic credentials are admitted.
MIT’s on-campus living provides additional opportunities for students to engage with faculty and fellow classmates. Students can also participate in over 1,000 student organizations. Tuition at MIT is $46,600 per year for tuition and fees. Room and board costs an additional $14,500 per year. Financial aid is available for students who qualify.
At a tuition of $59,220 a year, Columbia University tops The Princeton Review’s list of most expensive colleges. The Ivy League school is known for its top-notch academics and extensive athletics. For students looking to cut costs, there are several opportunities to do so: Living off campus can save about $14,000 per year; joining an eating club can reduce dining expenses by up to 50 percent; and taking advantage of free museum passes throughout New York City will help students explore art without spending any money. There are also plenty of student discounts on everything from travel to cell phone plans that can help offset some costs.
Located in New Haven, Connecticut, Yale is also one of America’s most prestigious universities. According to Kiplinger’s Personal Finance, Yale offers generous financial aid packages, making it an affordable option for many students.
The average annual cost of attendance at Yale University is $45,900. However, the average amount a student receives in grants and scholarships is $38,500 per year, bringing their total cost down to $6,400 per year on average.
The school has over 5,000 courses and more than 300 majors available to its undergraduates. Its graduate programs are equally impressive with 48 master’s degrees and 52 doctoral programs available. Alumni include former presidents George W. Bush and Bill Clinton as well as actors Meryl Streep and Paul Newman among others.
The average cost of one year at a private college or university is $28,300. But if you’re willing to forgo room and board, that number drops to an average of $14,000 per year. And if you want to get really specific, some schools can be as low as $10,000 per year.
So while it might seem like your only option is to take out massive loans and rack up credit card debt there are other options out there. If you’re looking for a way to pay for school without going into debt look into scholarships. There are tons of scholarships available specifically designed with lower-income students in mind.