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What college will cost, and the monthly savings needed to pay for it
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*The cost assume 6% annual increases and as base College Board survey data for tuition, room and board, transportation, books and other expenses. In-state residency is assumed for public schools.
^Savings figures assume that investments generate an 8% annual return, and that there are no additional investments or earnings once the child starts college.
Source: T. Rowe Price Associates Inc.
AVERAGE COLLEGE
TUITION HISTORY
PAID FOR 4 YEARS
 |
SCHOOL YEAR
(FALL)
1997
1998
1999
2000
2001
2002
| PUBLIC COLLEGE
(4 YEARS)
$44,743
$47,428
$50,274
$53,290
$56,487
$59,877
| PRIVATE COLLEGE
(4 YEARS)
$94,416
$100,081
$106,086
$112,451
$119,198
$126,350
|
|
|
| YEARS UNTIL STUDENT BEGINS COLLEGE |
SCHOOL YEAR (FALL) |
PUBLIC^ COLLEGE
(4 YEARS) |
PRIVATE^ COLLEGE
(4 YEARS) |
PUBLIC *(MONTHLY SAVINGS) |
PRIVATE*(MONTHLY SAVINGS) |
| 1 |
2003 |
$63,469 |
$133,931 |
$5,289 |
$11,161
|
| 2 |
2004 |
$67,277 |
$141,967 |
$2,595 |
$5,915
|
| 3 |
2005 |
$71,314 |
$150,485 |
$1,981 |
$4,180
|
| 4 |
2006 |
$75,593 |
$159,514 |
$1,575 |
$3,323
|
| 5 |
2007 |
$80,128 |
$169,084 |
$1,335 |
$2,818
|
| 6 |
2008 |
$84,936 |
$179,229 |
$1,180 |
$2,489
|
| 7 |
2009 |
$90,032 |
$180,983 |
$1,072 |
$2,262
|
| 8 |
2010 |
$95,434 |
$201,382 |
$994 |
$2,098
|
| 9 |
2011 |
$101,160 |
$213,465 |
$937 |
$1,976
|
| 10 |
2012 |
$107,230 |
$226,273 |
$894 |
$1,886
|
| 11 |
2013 |
$113,664 |
$239,849 |
$861 |
$1,817
|
| 12 |
2014 |
$120,484 |
$254,240 |
$837 |
$1,766
|
| 13 |
2015 |
$127,713 |
$269,495 |
$819 |
$1,728
|
| 14 |
2016 |
$135,375 |
$285,665 |
$806 |
$1,700
|
| 15 |
2017 |
$143,489 |
$302,805 |
$797 |
$1,682
|
| 16 |
2018 |
$152,098 |
$320,973 |
$792 |
$1,672
|
| 17 |
2019 |
$161,224 |
$340,231 |
$790 |
$1,668
|
| 18 |
2020 |
$170,998 |
$360,645 |
$791 |
$1,670
|
| 19 |
2021 |
$181,152 |
$382,284 |
$795 |
$1,677
|
| 20 |
2022 |
$192,152 |
$405,221 |
$800 |
$1,688
|
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