Adding it up!

How much, really, will college cost? How much will it be when today’s toddlers are looking for higher education? Look at these estimates from the U.S. Department of Education and the USAA Educational Foundation calculator, and be thankful you’re paying for it now.

Current average cost to attend a public, four-year, in-state university:
Tuition: $3,746 a year
Room: $2,811
Board: $2,642
Current total per year: $9,199
For four years: $36,796
In 10 years, future college cost per year: $18,122
In 10 years, total college cost for all four years: $72,488
In 18 years, future college cost per year: $31,093
In 18 years, total college cost for all four years: $124,370

Current average cost to attend a private four-year university:
Tuition: $16,287 a year
Room: $3,571
Board: $3,111
Current total per year: $22,969
For four years: $91,876
In 10 years, future college cost per year: $45,249
In 10 years, total college cost for all four years: $180,996
In 18 years, future college cost per year: $77,635
In 18 years, total college cost for all four years: $310,541

Current average cost to attend a public two-year college:
Tuition: $1,379 a year
Room: N/A
Board: N/A
Current total per year: $1,379
For two years: $2,758
In 10 years, future college cost per year: $2,717
In 10 years, total college cost for two years: $5,433
In 18 years, future college cost per year: $4,661
In 18 years, total college cost for two years: $9,322

Don’t forget these other college costs!
Books and supplies: $550 a semester
Misc. (Weekend entertainment, shopping and late-night snacks): $1,300 a year
Transportation: $20 a week for gas: $760/year
Cell phone: $45 a month: $540/year
Car insurance: $800 a year
Parking tickets: 2 a year at $25 each: $50/year
Total per year: $4,550

Sources:http://ed.gov/thinkcollege/early/students/college_costs.htm#ny/students/college_costs.htm#ny, www.usaaedfoundation.org

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