If you want to attend one of the nation’s top colleges, it’ll cost you.
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According to data collected by U.S. News & World Report, the average cost of tuition and fees for the 2023-2024 school year is $42,162 at private colleges, $23,630 for out-of-state students at public universities and $10,662 for in-state students at public schools.
Additionally, when you add other expenses, the overall cost jumps. Harvard University charges nearly $60,000 in tuition and fees for undergraduate students per year, CNN reported. When you add other expenses — housing, food, books and more — Harvard expects you to pay $95,438 each year.
U.S. News also noted that private schools often make up the price gap through tuition discounts and aid. For example, Princeton University had a sticker price of $57,410 for tuition and fees in the 2022-2023 school year, but the average cost per student receiving needs-based grants was only $17,464.
Between 1980 and 2020, the average price of tuition, fees and room and board for an undergraduate degree went up by 169%, according to a report from the Georgetown University Center on Education and the Workforce. This far outpaces wage increases, which increased by only 19% for workers ages 22 to 27 in that time.
Choosing public versus private has a huge impact on college costs. If you’re set on picking one of the nation’s best schools, here are U.S. News & World Report’s top-ranked schools from the 2024 Best Colleges rankings, including tuition and fees without aid.
National Universities:
- Princeton University: $59,710
- Massachusetts Institute of Technology: $60,156
- Harvard University: $59,076
- Stanford University: $62,484
- Yale University: $64,700
National Liberal Arts Colleges:
- Williams College: $64,860
- Amherst College: $67,280
- United States Naval Academy: No tuition
- Pomona College: $62,326
- Swarthmore College: $62,412
- Wellesley College: $64,320
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Planning and saving for higher education is incredibly important. When making plans and budgets for your education — or for your children — keep in mind that the highest-ranked schools often require the highest tuition and fees.
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This article originally appeared on GOBankingRates.com: How Much Does It Cost To Attend One of 2024’s Best Colleges?
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