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The True Cost Of College Infographic

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How much is the average American spending on higher education? More than you might expect. This infographic goes beyond tuition and offers a comprehensive breakdown of the real costs of college, as well as what goes into financing a degree, including the realities of student loan debt. Get the info you need to plan and pay for college.

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The True Cost Of College Infographic

  1. 1. -——— HEAL 1:031 01 -———- C AVERAGE ESTIMATED FULL-TIME UNDERGRADUATE BUDGETS [20l2-20l3] TUITION 34 III3 F: ODl. l U BOARD Public Public 4 year in-State On Campus Public 2-Year Commuter On Campus 3,131 8,655 21,706 Private 4 year out Of state Nonpfgflt 4 Ygaf On Campus 29,056 I 7,419 9,205 9,205 103152 A) 1,229 1,200 1,200 1,244 BDOIIS iii SUPPLIES @- lRAllSPDRlAl| Ul«l OTHER EIPEI-ISIS 1,648 1,110 1,110 2,157 2,091 2,091 9.57 ‘ 15.534 22,251 35,312 43,289 lOl. ~'«. l EXPENSES S. ‘ fl GOVERNMENT The federal government and State government 5 -5 GRANTS Grants are called gift did '1 because they do not have to be paid back. it - ,1? SOURCES OF FINANCIAL AID flfiI7 PRIVATE ORGANIZATIONS such as companies, clubs and religious organizations TYPES OF FINANCIAL AID $237 0 volunteer Z V government program that needs to be paid back with interest 44% 37% from the Federal Government -{U0 |2“IH‘. in only IC years") PELL GRANTS > Central federal grant Drogram P Funds low and moderate income students 9.4M Students 37%. of all undergraduates $3.45B total Pell Grant expenditures $3, 11 College costs. LOANS Loans are borrowed money from a bank or SOURCES DE GRANT AID 9% from Colleges and from State universities Governments COLLEGES 8i UNIVERSITIES THE BASICS billion in financial aid given. $8.1 billion from state and private institutions. $13,218 the average amount that full time undergraduate students received. SCHOLARSHIPS Sciiolcirstiips are rewarded for 7 academic or athletic ability. interest in d certain subiect or worketc. WORK-STUDY PROGRAMS The Federal Work-Study Program offers paid 7 part-time jobs to help students pay for part of their 10% from Private Sectors STUDENT BORROWING $113 .4 B 24% higher than 5 years ago Federal Stafford Loans 35% of undergraduate students 535 $8J the average Pell (Brant per recipient $6,676 average Stafford Loan the amount of non~federaI loans AVERAGE GRANTS/ SCHOLARSHIP AWARDED PER STUDENT = $2,000 Public schools Private $14,200 Private non-profit schools for-profit schools 20lO The first time student loan debt surpassed credit card debt. 67% of 2009 college graduates have debt. DEBT Total student loan debt exceeds $1 trllllon. Increasing $2,853 per second. Average student left college with $27,253 in debt VARSITY TIJTORS

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