In previous years, the average tuition for a student to attend a four-year private university cost around $34,740. However, with the most expensive college tuition rising again, the average has grown unexpectedly. In the year 2018, the student loan debt in the United States surpassed around $1.5 Trillion. Being a college student you should be acutely aware of the finances, whether your family financial situation is supportive or not accordingly how expensive your dream college in the United States is. Therefore, you should know the perspective of the most expensive colleges in America to opt one from them accordingly. This will not only help you find how much will cost but also sketch the picture of how much future students will be paying when they start their college life.
So, which are these expensive colleges that cost so much per year to each student? What college is ranked at 1 on the top 10 most expensive US colleges? Here are the 10 most expensive colleges in the United States.
Why Colleges are so expensive in the United States?
According to the National Center for Education of the US Department of Education states that a full-time graduate student pays an amount of $22,432 in tuition, fees, room, and boarding expenses. The research reveals that the college price tags vary so much on basis of the instructional expenditures like salaries, pensions, cost of living, and other expenses of teachers or instructors of the institute. Moreover, depending upon the offering and academic programs also affect the tuition prices variation. The most expensive colleges present large engineering classes as well as research centers that make it more costly. Whereas, in the United States as well as high standard universities worldwide, charge a higher fee amount from the out-of-state students.
Is it worth attending an expensive college in the United States?
The college rates talking with the heights of the sky make students and parents think twice that is it worth to spend too much on their college education. So, always remember these three actionable tips while deciding on your college.
- Take your college education as an investment: quality education is priceless: Taking a look at the potential earnings of successful college graduates, can be a source of inspiration. Therefore, set your expected return of investment by evaluating the salaries of previous graduates in some specific field from your dream university.
- Look for Financial Aid Options: Many expensive colleges in the United States offer financial aid options. Different colleges have set their own standards and policies to provide this need-based aid to students.
- Set your priorities Straight: When parents send their children to high-priced college institutions, there will be a decision that made them prepared for it. Therefore, if you are certain that the amount you spend today will pay you in the future, then it’s worthwhile to do so.
John Hopkins University: $68,080
The founder of the university named it after his great grandmother – Margaret Johns. It was founded in 1876 and is the first American research university with the slogan “ The truth will set you free”. The graduates of John Hopkins University are known as some of the most well-researched teachers and global leaders. The institute believes in sharing knowledge and discoveries which is a necessity of improvement of societies. Furthermore, at the time of the founder’s death, they left $7 million which was funded by the university and hospital. It was observed that in 2018, this fund covered the full tuition, fees, room, and board of about 102.8 undergraduates. Thus, the total expenses a student meets at John Hopkins University is $68, 080.
University of Pennsylvania: $53,534
It was established by Benjamin Franklin in 1740. The University of Pennsylvania was the first American college to found on strictly secular principles. The founder of the college himself did not attend the college himself. Franklin’s education was self-administered through reading. The tuition and fees of the University of Pennsylvania are around $53,534. Whereas, the room and boarding here will cost you $15,066 on top of it so the total amount that costs you here at one of the most expensive colleges is $68,600.
Claremont McKenna College: $69,045
If you run your fingers to calculate the four-year sticker price it is almost $280,000. Surprisingly, this is the amount you need to have studied at one of the most expensive colleges in the United States – Claremont McKenna College. A Claremont McKenna students itself at a debt of $21,421 at graduation. As mentioned earlier many of the expensive colleges provide need-based scholarships. It awards a hefty of $46,324.
Oberlin College: $69,322
The amazing perk of being a student at Oberlin College is that you can rent original works of art from a renowned art museum campus. Moreover, this is possible just at $5 per semester. In the total cost of $15,862, you can enjoy works by Warhol, Picasso, and other well-known artists hung in their dorm rooms. Thus, the total cost you need to afford at this expensive college is $69,322.
Southern Methodist University: $69,408
The Southern Methodist University was found by Methodist Episcopal Church. Its main campus is situated in the suburbs of Dallas, Texas. Besides, being famous as the most expensive college in the United States, about three-quarters of students enjoy benefits from scholarships and financial granting packages. These packages that eligible students enjoy range from $236 to $80,067. The tuition and fees at Methodist Episcopal Church are $52,498 collectively with room and board charges of $16,910 results a total of $69,408.
Columbia University of School: $69,428
This one of the most expensive universities is located in Morningside Heights in the neighborhood of Manhattan. They are entirely dedicated to students those who are with non-traditional backgrounds who want traditional education at an Ivy League University. School of General Studies of Columbia University costs you the tuition and fees around $55,478 and the room and boarding expenses up to $13,950. Thus, in total the amount that you need to afford in this expensive college is $69,428.
University of Southern California: $69,725
The University of Southern California is the oldest private research university in the complete state. Therefore, besides being high-priced, it has a pretty high acceptance rate of 18%. Although, being an expensive college in the United States it has a large student body and a total enrollment of 45,687. The tuition and fees of the University of Southern California are about $54,323 and room and boarding are $15,885.
University of Chicago: $70,551
If you want to economics as a business then the University of Chicago heads the way. The University of Chicago also includes a school of economic thought – The Chicago School of Economics. However, attending economics school is very simple but it’s really expensive. This expensive college in the United is famous for its slogan “Let knowledge grow from more to more, and so be human life enriched.” Moreover, being expensive it also one of the largest universities with 217 acres of land spanning campus near Lake Michigan.
Columbia University: $70, 826
Columbia University is the oldest higher education institution in New York. Just after the Catholic Church, the second-largest landowner in New York is Columbia University. It was founded as the King’s College in 1754. It’s one of the nine colonial colleges that were established before the Declaration of Independence. So, this oldest university and one of the most expensive colleges has its tuition and fees around $57,208, whereas, the room and boarding are $13,618.
Harvey Mudd College: $72,478
It’s a private science and engineering school in Claremont, California. The acceptance rate of undergraduates in the university is 13% and the total enrollment of just 815. The most expensive school in the country is also known as 7Cs. It is named after Harvey Seely Mudd – the initial investor in the Cyprus Mines Corporation. Running down back three years, it has been renowned as the most expensive college in America. In addition, to being the most expensive college in the state, it offers financial aid to ease the sticker price of about $290k cost. The only tuition and fees are $54,886 and the room boarding costs up to $17,592.