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Money The Cost of Being a Student at Each University
A college education can cause a considerable financial burden for students and their families, but just how much does it cost to be a student at different universities in the U.S?
This study looked into the wide variety of costs that students incur, from tuition fees and books to rent and groceries while at U.S. colleges. This analysis has reviewed 200 universities (the top four in each state) and 18 different data points to determine the most expensive and the most affordable university for students.
Key findings
- Columbia University in New York is the most expensive university to study at, with a four-year degree and associated living costs adding up to $514,442.
- The most affordable college to attend is Brigham Young University in Rexburg, Idaho, where a four-year degree and related expenses will cost an average of $138,528.
- Columbia University also has the most expensive tuition costs at $66,139 per academic year.
- On-campus rent is the most expensive at Harvard University at a total of $29,896 for room and board in the first year.
- For students attending private college, tuition and fees make up 60.4% of the total cost.
- Students who attend public college with an in-state discount will spend 32.1% of the total cost on tuition and fees.
- The average spend on academic supplies and books over a four-year degree is $4,759.
Cost of being a student at the most and least expensive universities in the U.S.
Overall, when accounting for the average expenditure of a student, the most expensive university to live and study at is Columbia University in New York, costing $514,442 for a four-year degree.
Top 20 most expensive universities to live and study at
As mentioned, this analysis found that the most expensive college to live and study at in the U.S. is Columbia University in New York, where a four-year degree and all typical associated living costs adds up to $514,442. This is followed by New York University at $497,402 and Georgetown University in Washington, D.C. at $472,817.
| Rank | University | City | State | Total Cost for Four Years |
|---|---|---|---|---|
| 1 | Columbia University | New York | NY | $514,442 |
| 2 | New York University | New York | NY | $497,402 |
| 3 | Georgetown University | Washington | DC | $472,817 |
| 4 | Harvard University | Cambridge | MA | $472,027 |
| 5 | California Institute of Technology | Pasadena | CA | $458,330 |
| 6 | University of Southern California | Los Angeles | CA | $457,650 |
| 7 | University of Chicago | Chicago | IL | $455,257 |
| 8 | George Washington University | Washington | DC | $454,377 |
| 9 | Yale University | New Haven | CT | $451,516 |
| 10 | Massachusetts Institute of Technology | Cambridge | MA | $441,948 |
| 11 | SMU | Dallas | TX | $435,625 |
| 12 | Stevens Institute of Technology | Hoboken | NJ | $433,460 |
| 13 | Tulane University | New Orleans | LA | $429,634 |
| 14 | University of California--Berkeley | Berkeley | CA | $429,027 |
| 15 | Dartmouth College | Hanover | NH | $424,328 |
| 16 | Boston College | Chestnut Hill | MA | $424,217 |
| 17 | Brown University | Providence | RI | $423,335 |
| 18 | Bennington College | Bennington | VT | $421,500 |
| 19 | Tufts University | Medford | MA | $420,533 |
| 20 | Stanford University | Stanford | CA | $420,299 |
Top 20 most affordable universities to live and study at
According to the study, the most affordable university to live and study at in the U.S. is Brigham Young University in Rexburg Idaho, where a four-year degree and associated average living costs would add up to $138,528. This is followed by Western Governors University in Salt Lake City, Utah at $143,591, and Minot State University in North Dakota at $151,572.
| Rank | University | City | State | Total Cost for Four Years |
|---|---|---|---|---|
| 1 | Brigham Young University | Rexburg | ID | $138,528 |
| 2 | Western Governors University | Salt Lake City | UT | $143,591 |
| 3 | Minot State University | Minot | ND | $151,572 |
| 4 | Purdue University--West Lafayette | West Lafayette | IN | $154,952 |
| 5 | New Mexico State University | Las Cruces | NM | $155,304 |
| 6 | Great Basin College | Elko | NV | $165,539 |
| 7 | Wilmington University | New Castle | DE | $169,341 |
| 8 | Brigham Young University--Provo | Provo | UT | $173,261 |
| 9 | Laramie County Community College | Cheyenne | WY | $174,805 |
| 10 | Eastern New Mexico University | Portales | NM | $176,310 |
| 11 | Goldey-Beacom College | Wilmington | DE | $179,205 |
| 12 | Clarkson College | Omaha | NE | $183,584 |
| 13 | North Dakota State University | Fargo | ND | $185,734 |
| 14 | Brigham Young University-Hawaii | Laie | HI | $185,737 |
| 15 | South Dakota State University | Brookings | SD | $186,908 |
| 16 | University of North Dakota | Grand Forks | ND | $187,735 |
| 17 | University of New Mexico | Albuquerque | NM | $191,808 |
| 18 | University of South Dakota | Vermillion | SD | $193,098 |
| 19 | Marshall University | Huntington | WV | $197,652 |
| 20 | University of the Southwest | Hobbs | NM | $203,440 |
Average cost of being a student in the U.S.
The average total cost of being a student for four years in the U.S. is $307,658. These costs are split among a number of expenses that students incur throughout their time at university, including rent, groceries, and course materials. This average is taken from the top four colleges in each state, analyzing 200 schools in total.
In-state student tuition
Students who already live in the state of their chosen university (if it’s a public or state university) will pay the in-state level of tuition, which is lower than the tuition paid by out-of-state students. The reason for this is that resident students come from families whose tax dollars contribute towards public or state colleges. [1] In-state vs out-of-state tuition - Best Colleges https://www.bestcolleges.com/resources/in-state-vs-out-of-state-tuition/
For a student with an in-state discount, rent takes up the highest proportion of the cost over four years at 36.7% (including one year on campus and three years off-campus renting with three people sharing). Tuition and fees take up 32.1% of the total cost, followed by takeout and food away from home at 8% of all expenses.
| Expenses | 1 Year Avg Cost | 4 Year Avg Cost |
|---|---|---|
| In state tuition & fees | $11,203 | $44,811 |
| Academic supplies/books | $1,190 | $4,759 |
| First year on-campus rent cost (average) | $17,189 | $17,189 |
| Average monthly rent (3 bed sharing) | $11,364 | $34,092 |
| Average bills pp/month (3-bed sharing) off-campus | $2,356 | $7,069 |
| Furnishings/Decorations | $2,721 | $10,882 |
| Weekly groceries | $1,913 | $7,651 |
| Food away from home/Takeout | $2,782 | $11,128 |
| Technology (iPhone11 and laptop) | $290 | $1,159 |
| Clothing | $250 | $1,000 |
Private university or out-of-state admission
Students who attend a private college will pay the same tuition regardless of whether they live in the same state as the university or not.
For students wanting to attend a public college in a state that they do not currently live in, the cost of tuition is higher as they will not receive an in-state discount.
For these students, tuition and fees take up the vast majority at almost three-quarters (60.4%) of total university costs. Rent and bills make up the second highest expense at a total of 21.4% of the total cost (including one year on-campus and three years off-campus renting with three people sharing). Takeout food and food away from home comes in third with 4.6% of the total cost.
| Expenses | 1 Year Avg Cost | 4 Year Avg Cost |
|---|---|---|
| Tuition and fees | $36,133 | $144,531 |
| Academic supplies/books | $1,190 | $4,759 |
| First year on-campus rent cost (average) | $17,189 | $17,189 |
| Average monthly rent (3 bed sharing) | $11,364 | $34,092 |
| Average bills pp/month (3-bed sharing) off-campus | $2,356 | $7,069 |
| Furnishings/Decorations | $2,721 | $10,882 |
| Weekly groceries | $1,913 | $7,651 |
| Food away from home/Takeout | $2,782 | $11,128 |
| Technology (iPhone11 and laptop) | $290 | $1,159 |
| Clothing | $250 | $1,000 |
Tuition and fees for each college
Tuition and fees for different colleges can vary greatly depending on the location and the courses available, as well as a number of other factors, like whether the college is private or public.
On average, tuition and fees cost $36,132 for all of the colleges analyzed in this study. This does not include any in-state discounts provided by public colleges.
The most expensive university for tuition and fees is Columbia University in New York, with a cost of $66,139 per academic year. The university with the most affordable tuition and fees is Brigham Young University in Rexburg, Idaho which costs, on average, $4,536 per academic year. This is based on private colleges, or public colleges for students with no in-state discount.
Academic supplies and books
The cost of academic supplies and books that students need also varies for each college and course. This study put together the average cost of books and supplies that a student will need when attending each college.
The college with the most expensive books and academic supplies is the Citadel Military College in South Carolina, where the average cost is $8,470. However, as this is specifically a military college, the supplies needed will differ significantly from regular academic colleges.
After this, the next most expensive college for books and supplies is the New Jersey Institute of Technology in Newark where supplies cost $2,750.
Students at Western Governors University in Salt Lake City will pay the least for their academic supplies at just $200.
First year on-campus rent
For university students, the cost of rent and bills is one of the biggest expenses they will incur. This analysis looked at costs for a student to spend their first year in on-campus accommodation.
Harvard has the highest costs when it comes to first-year on-campus rent, at a total of $29,896 for room and board. The cheapest first-year on-campus rent is at Western Governors University in Salt Lake City, Utah with an average cost of $7,000 for room and board.
Off-campus rent and bills
Most students attending a four-year college will spend their first year on-campus, and the remaining three years renting in off-campus accommodation.
This analysis is based on three years renting off campus, with three students sharing one apartment.
New York is the most expensive city for students to rent, with an average monthly rent of $2,568 per person, meaning students at Columbia and New York University pay the most for off-campus rent.
The cheapest city for off-campus rent is Rolla, Missouri at an average of $225 per person per month, meaning students at the Missouri University of Science and Technology pay the least.
Groceries and food away from home
For students who don’t get meals included on-campus or who live off-campus, the cost of groceries, takeout food, and drinks is another important cost to consider.
Data from Zippia’s average cost of groceries by state was used to find the average per person monthly spend on groceries at the state-level, based on costs from one city in each state. A percentage decrease was applied based on the BLS Consumer Expenditure Survey to estimate an average grocery cost for people under 25 in each state.
Of all the states analyzed, Hawaii had the most expensive monthly grocery shop at $350.76, meaning students at universities in Hawaii, such as the University of Hawaii at Hilo, would be paying the most. New Hampshire offers the cheapest monthly grocery shop at $115.29 per person, giving students at universities such as Dartmouth College and the University of New Hampshire the lowest-priced groceries.
Takeout food and eating out
For takeout and food away from home, this study analyzed the Bureau of Labor Statistics (BLS) Consumer Expenditure Survey to find out the average spend on takeout and food away from home per person per year.
This analysis used data from people aged between 18 and 25 to estimate the average amount a typical student would spend per year on takeout and eating out. This was then factored into the total cost over the course of a degree at each of the universities analyzed.
The average spend on food away from home for people in this age group is $2,782 per year, adding up to $11,128 over a four-year degree.
Methodology
To decide which institutions to analyze, the study primarily used US News’ ranking of top schools and universities. The analysis ensured each state had at least four institutions in our analysis for better national representation. Where this was not possible solely with US News’ data, data from Best Colleges’ rankings was used to substitute those states with fewer than four.
Health insurance was not factored into this study as college students can stay on their parents’ health insurance plans until they are 26 years old, even after they graduate.
Data on tuition and fees for attending each college, academic supplies and books, and first-year on-campus rent was collected from College Tuition Compare.
The average spend on takeout and food away from home was taken from the BLS’ Consumer Expenditure Survey and converted to 2023 prices using the CPI inflation calculator.
The average cost for an iPhone 11 was taken from Back Market and the average cost of a college student laptop came from PC Mag.
Cost of living data from Numbeo was used to calculate the average rent, monthly bills, clothing, and other associated living costs for each city.
Numbeo’s data is self-reported and data quality varies city-by-city. Numbeo does use proprietary algorithms and ‘heuristic technology to maintain data quality, and regularly removes statistically improbable or incorrect data using existing data as a benchmark.’
Data from Zippia was used to estimate an average monthly grocery spend per person at the state level. This information is based on costs from one city in each state, so may not be an exact match for every university analyzed. A 37% decrease was applied to Zippia’s grocery costs to account for the fact that under-25s spend 37% less than average on groceries, according to data from the BLS. Grocery costs were only counted for 8 months of the year to cover the time students are at university, and to exclude time spent at home on breaks.
Data was collected in August 2023 and is subject to change.
Sources
- [1] In-state vs out-of-state tuition - Best Colleges https://www.bestcolleges.com/resources/in-state-vs-out-of-state-tuition/
