Cost is one of the most important factors to consider in making your college decision. The College Board reports that college tuition and fees for 2003-2004 have increased 6.0 percent at four-year private institutions, and 14.1 percent at four-year public institutions compared to 2002-2003 costs. The increase is 13.8 percent for two-year public institutions. Nevertheless, a college education is still within the grasp of all Americans. Students and their families should consider the cost of an education as an investment in the future. It will provide personal and financial dividends for a lifetime. Consider that the gap in lifetime earning potential between a high school and college graduate is over $1,000,000! It is clear that short term sacrifices are more than repaid in personal and financial dividends for a lifetime.
The following charts show the national average annual costs for public and private colleges in the United States.
Source: Trends in College Pricing 2003. Copyright © 2003 by College Board. Reproduced with permission. All rights reserved. www.collegeboard.com.