Understanding the Average Cost of College: Tuition, Fees, and More

The average cost of college varies based on the type of institution you plan to attend. Generally, college costs are higher for private colleges and lowest for in-state students attending public institutions.

This guide breaks down the average cost of college for both public and private schools.

What is the average cost of attending college?

College costs start with tuition and fees, which vary widely based on the type of institution you choose. From there, room and board expenses push up your total costs significantly.

Generally, in-state students opting for a public university face lower costs than out-of-state students. And students who choose a four-year private university experience the highest tuition costs.

The chart below highlights the average costs for tuition and fees across college types per year:

Average college costs also vary by state. For example, the average cost of tuition and fees for an in-state undergraduate in Florida was $6,113 in the 2023-24 academic year, which is significantly less than the national average of $9,375.

Room and board expenses can sometimes exceed tuition costs. It's especially important to pay attention to these costs when choosing a school. On average, room and board costs for the 2024-25 academic year were $13,310 for public four-year colleges and $15,250 for private schools.

Since the amount you'll pay for room and board depends largely on where your college is located, evaluating those expenses for your school can help you understand the full picture of college costs before heading to campus.

Current private student loan rates

Cost breakdown for different types of colleges

Different types of colleges come with different costs attached. Below is a look at the average tuition and fees across different types of colleges, based on data from the College Board:

• Public four-year institutions for in-state students: Tuition and fees cost an average of $11,610 per year.
• Public four-year institutions for out-of-state students: Out-of-state students pay more, averaging $30,780 for tuition and fees each year.
• Private four-year universities: These universities average $43,350 in tuition and fees per year.
• Public two-year college: Annual tuition and fees at an in-district two-year college cost an average of $4,050.

Additional costs to consider beyond tuition

College costs don't end with tuition. Most students should expect to face additional costs, including:

• Textbooks
• Supplies
• Lab fees
• Technology charges
• Rent
• Food
• Transportation
• Personal computer
• Licensing costs
• Medical bills
• Student loan interest charges

Life won't stop while you attend school. In addition to charges you face on campus, you'll also pay for living expenses, which can add up quickly.

How to manage and reduce college costs

As you explore college costs, you might feel a bit of sticker shock. The good news is that employing the right strategies can help you manage and even reduce college costs.

The following strategies can help you reduce college costs:

File the FAFSA

Financial aid for college tuition can help make your educational aspirations a reality.

Filing the Free Application for Federal Student Aid (FAFSA) opens up a number of funding opportunities, including federal grants, work-study funds, scholarships, and loans. Beyond federal aid, many schools use this information to determine your eligibility for school and state aid opportunities.

Even if you aren't sure what you'll qualify for, filling out the FAFSA and submitting it on time can help you tap into all the funding you need to pay for school.

Apply for scholarships and grants

“One of the most impactful strategies is to start planning early, apply for every scholarship and grant you're eligible for, since that's essentially 'free money' you won't need to repay,” says Dr. Shaan Patel, founder of Prep Expert.

Applying for as many scholarships and grants as possible can help you cover college costs without taking on too many student loans.

Consider working part-time while in school

“If you're willing to go the extra mile, side hustles or part-time jobs off campus can help cover day-to-day expenses, reducing the need to borrow,” says Patel.

Of course, working while in school adds more to your plate. But if you can confidently manage your courseload and a job, that can help you stay afloat financially.

Tips for budgeting for college

Sticking to a budget in college can help you avoid overpaying for your education. Use the tips below to help build out a college budget:

Estimate the total cost of attendance (COA)

While it's tempting to assume that college costs start and end with tuition, in reality, you'll face other expenses when getting through school. Start by estimating the total cost of attendance, which goes beyond tuition to include fees, books, materials, housing, food, transportation, and more.

Many schools post an estimated cost of attendance through their financial aid office. Consider using their estimates as a starting point for your own costs. But don't be afraid to cut out costs or add other line items based on your situation.

Create a budget to manage living expenses

With an idea of what costs you'll be facing, set up a budget to help you avoid overspending.

“The key is to list out all possible expenses, from tuition and books to meal plans and personal spending,” says Patel.

“Then, compare those expenses to your income sources, such as financial aid, earnings from a job, or support from family. Make sure to track your spending closely. An app or spreadsheet can help, so you don't overshoot,” adds Patel.

Smart budgeting for college should also include a buffer for unforeseen expenses, such as a broken laptop or an unexpected class fee, to prevent any surprises, Patel says.

Cut back on extra expenses

As you build your budget, look for places to cut back on extra purchases.

“Always cut ghost expenses,” says Reyna Gobel, author of CliffsNotes' “Graduation Debt: How to Manage Student Loans and Live Your Life.”

A ghost expense, Gobel explains, “is one you won't miss if you stop spending it. For instance, overpaying on a cell phone bill because you didn't negotiate it, or paying for a meal plan where you only use half of it.”

Lean on available resources

Many college campuses provide ample resources to their students.

For example, you might have access to a free gym on campus, which means you don't have to pay for an off-campus gym option. Other resources might include free tickets to sporting events, which offer a night of entertainment with minimal out-of-pocket costs. Some campuses offer free bike repair services, which might help you keep your transportation costs to a minimum.

Get creative about stretching your budget by leaning on the resources available on campus.