College Expense

College expense gradually increases each year. The average debt accrued by a student attending a four-year institution was $23,200 in 2009. That is an intimidating number. It may seem scary to know that the average person will be faced with that much debt before they take a step in the real world. Especially considering there is no guaranteed return in your investment. College is already intimidating having to worry about being successful academically. Then to add the stress of owing a lot of money as soon you walk out the door.
College is essentially a gamble. You’re investing thousands of dollars and four years of time for the potential opportunity to have a successful career. Along the way a young student will be faced with a multitude of temptation. For most, college is first time where you are completely independent. No longer will your parents telling you to go to class or make you do homework. Organization skills and time management are crucial skills to develop. Dedication is a key factor in determining the success of a college student.

Average National Costs

• Public four-year colleges charge $7,605 per year in tuition and fees for in-state students. The average surcharge for full-time out-of-state students at these institutions is $11,990.
• Private nonprofit four-year colleges charge $27,293 per year in tuition and fees.

Keep in mind that these COSTS do not include books and other menial optional costs. Books are absurdly expensive; the national average on books and course materials is $1,137. Personal expenses such as laundry, parking permits reached $1,989 in 2010. Also, transportation accounts for about another thousand dollars. That is a total of over $4,000 in extra cost not accounted for by college tuition and fees. They also only account for the bare minimum. Without a proper budget these cost could be increased exponentially. The price tag on a college education is scary enough, but you need to be aware of the hidden costs that come with it.