By understanding college costs, you can compare schools to find ones you can afford. And ones that are the most expensive colleges in the US even if you secure financial aid. The cost of attending (COA) college varies from one to the next. Each school sets its own tuition for example, and fees. Some colleges also offer one price for residents, another for out-of-state and online students. You incur other expenses while at college too. The most expensive colleges in the US vary in COA and depend on your household’s income.
To figure out what the most expensive colleges in the US are, you can start with the COA of each school. This is a total of these common costs:
- Tuition
- Fees
- Room and Board (rent, food, etc.)
- Books and school supplies
- Miscellaneous (computer, sheets and towels, reading lamp, etc)
- Travel to and from school
Household Income and the Cost of College
The other thing that impacts the cost of college is your household income (HH). Your HH is the gross income of all the members (aged 15 years or older) who are living together. To find out which colleges are the most expensive for you, the formula is: COA minus HH. This leaves the sum that will come out of your pocket.
Given, some colleges come with higher price tags and median family incomes also differ. So, the cost of going to a specific college may vary from one person to the next. Also, the amount of federal financial aid each student is eligible for depends on the results of your FAFSA. Or, Free Application for Federal Student Aid.
The FAFSA takes in both COA and HH and calculates what is called your Estimated Family Contribution (EFC). Your EFC is the number that’s used to check if you qualify and how much financial aid.
It tends to be on the report generated by a FAFSA called an student aid report (SAR). The SAR goes to each college you apply to so make sure it has the correct info.
Here, we outline the most expensive colleges in the US for families with different income levels. Our data draws from the National Center for Education Statistics (NCES) and looks at averages for all undergrads.
Most Expensive Colleges in the US for Families with an Income of Less than $30,000 per Year
This table outlines the most expensive colleges in the US for families with an income below $30K per year.
| College | Percent Admitted | Average Net Price of Federal Financial Aid | Average Amount of Financial Aid/Scholarships | Average Federal Loan Amount |
|---|---|---|---|---|
| Southern New Hampshire University | 73% | $43,038 | $3,888 | $7,259 |
| Savannah College of Art and Design | 70% | $39,498 | $11,766 | $6,410 |
| The New School | 57% | $37,224 | $16,566 | $6,893 |
| Quinnipiac University | 72% | $32,775 | $22,688 | $6,790 |
| Keiser University – Ft. Lauderdale | 100% | $30,118 | $7,409 | $10,562 |
| Academy of Art University | 100% | $29,839 | $9,085 | $7,171 |
| Hofstra University | 63% | $29,282 | $23,690 | $6,673 |
| New York University | 20% | $29,080 | $29,480 | $7,355 |
| Southern Methodist University | 51% | $28,924 | $31,071 | $6,504 |
| Loyola University Chicago | 68% | $28,591 | $20,074 | $6,854 |
| University of St. Thomas | 80% | $27,757 | $19,767 | $6,889 |
| DeVry University – Illinois | 94% | $27,320 | $4,838 | $7,291 |
| Liberty University | 56% | $26,570 | $7,509 | $7,656 |
| Independence University | 100% | $26,555 | $6,069 | $8,746 |
| Full Sail University | 100% | $25,797 | $7,531 | $11,104 |
| Fordham University | 46% | $25,410 | $27,610 | $6,696 |
| Columbia College | 100% | $25,162 | $5,375 | $7,735 |
| Pace University | 76% | $24,939 | $26,647 | $7,227 |
| Drexel University | 77% | $24,714 | $23,740 | $7,559 |
| Texas Christian University | 41% | $24,370 | $24,704 | $6,858 |
| Baylor University | 39% | $24,220 | $22,356 | $6,822 |
| DePaul University | 68% | $24,170 | $19,363 | $6,843 |
| University of Miami | 32% | $23,694 | $31,431 | $5,573 |
| Villanova University | 29% | $23,172 | $30,900 | $7,207 |
| St John’s University – New York | 73% | $23,142 | $24,887 | $6,616 |
Most Expensive Colleges in the US for Families with an Income of $30,001 to $48,000 per Year
This table points out the most expensive colleges in the US for families with an income of between $30,001 and $48,000.
| College | Percent Admitted | Average Net Price of Federal Financial Aid | Average Amount of Financial Aid/Scholarships | Average Federal Loan Amount |
|---|---|---|---|---|
| Savannah College of Art and Design | 70% | $43,212 | $11,766 | $6,410 |
| The New School | 57% | $42,200 | $16,566 | $6,893 |
| Southern New Hampshire University | 73% | $39,382 | $3,888 | $7,259 |
| Loyola University Chicago | 68% | $36,729 | $20,074 | $6,854 |
| Quinnipiac University | 72% | $35,090 | $22,688 | $6,790 |
| Academy of Art University | 100% | $34,539 | $9,085 | $7,171 |
| Keiser University – Ft. Lauderdale | 100% | $33,750 | $7,409 | $10,562 |
| Hofstra University | 63% | $32,765 | $23,690 | $6,673 |
| Drexel University | 77% | $32,687 | $23,740 | $7,559 |
| Long Island University | 76% | $31,392 | $19,269 | $7,730 |
| University of St. Thomas | 80% | $30,827 | $19,767 | $6,889 |
| Columbia College | 100% | $23,739 | $5,375 | $7,735 |
| DePaul University | 68% | $29,378 | $19,363 | $6,843 |
| Azusa Pacific University | 69% | $29,136 | $21,117 | $7,001 |
| Fordham University | 46% | $29,987 | $27,610 | $6,696 |
| New York University | 20% | $28,401 | $29,480 | $7,355 |
| Liberty University | 56% | $28,185 | $7,509 | $7,656 |
| DeVry University – Illinois | 94% | $28,148 | $4,838 | $7,291 |
| Seton Hall University | 70% | $27,958 | $24,185 | $6,816 |
| American University | 32% | $27,957 | $26,636 | $6,350 |
| Tulane University of Louisiana | 17% | $27,562 | $5,770 | $9,150 |
| ECPI University | 72% | $27,280 | $24,704 | $6,858 |
| Texas Christian University | 41% | $26,872 | $24,704 | $6,858 |
| Touro College | 71% | $26,848 | $9,631 | $8,418 |
| Southern Methodist University | 51% | $26,694 | $31,071 | $6,504 |
Most Expensive Colleges for Families with an Income of $75,001 to $110,000 Per Year
The table below outlines the most expensive colleges in the US for families with an income of between $75,001 to $110,000.
| College | Percent Admitted | Average Net Price of Federal Financial Aid | Average Amount of Financial Aid/Scholarships | Average Federal Loan Amount |
|---|---|---|---|---|
| Southern New Hampshire University | 73% | $44,377 | $3,888 | $7,259 |
| The New School | 57% | $44,137 | $16,566 | $6,893 |
| Hofstra University | 63% | $42,515 | $23,690 | $6,673 |
| Loyola University Chicago | 68% | $38,506 | $20,074 | $6,854 |
| Savannah College of Art and Design | 70% | $36,329 | $11,766 | $6,410 |
| Carnegie Mellon University | 17% | $35,890 | $33,999 | $7,307 |
| Seton Hall University | 70% | $35,866 | $24,185 | $6,816 |
| Academy of Art University | 100% | $35,686 | $9,085 | $7,171 |
| New York University | 20% | $35,409 | $29,480 | $7,355 |
| Long Island University | 76% | $34,824 | $19,269 | $7,730 |
| Quinnipiac University | 72% | $33,996 | $22,688 | $6,790 |
| Touro College | 71% | $33,802 | $26,636 | $6,350 |
| American University | 32% | $33,044 | $26,636 | $6,350 |
| Keiser University -Ft. Lauderdale | 100% | $32,751 | $7,409 | $10,562 |
| Saint Louis University | 58% | $32,628 | $24,674 | $7,161 |
| Tulane University of Louisiana | 17% | $35,552 | $5,770 | $9,150 |
| DeVry University – Illinois | 94% | $32,552 | $4,838 | $7,291 |
| Universidad Ana G. Mendez- Carolina Campus | 100% | $32,265 | $4,603 | $4,974 |
| Columbia College | 100% | $31,928 | $5,375 | $7,735 |
| Villanova University | 29% | $31,889 | $30,900 | $7,207 |
| University of Denver | 56% | $31,733 | $29,667 | $6,854 |
| Drexel University | 77% | $31,664 | $23,740 | $7,559 |
| Marquette University | 82% | $31,663 | $19,330 | $7,284 |
| Pace University | 76% | $31,409 | $26,647 | $7,227 |
| Independence University | 100% | $30,349 | $6,069 | $8,746 |
Most Expensive Colleges for Families with an Income of $110,000 or more
The table below shows the most expensive colleges in the US for families with an income of $110,000 or more. If you attend any of the colleges listed below, you can expect to pay approximately $26,282- $57,678 per year.
| College | Percent Admitted | Average Net Price of Federal Financial Aid | Average Amount of Financial Aid/Scholarships | Average Federal Loan Amount |
|---|---|---|---|---|
| Academy of Art University | 100% | $57,678 | $9,085 | $7,171 |
| Massachusetts Institute of Technology | 7% | $51,487 | $44,820 | $6,773 |
| Washington University in St Louis | 15% | $50,333 | $38,245 | $5,917 |
| Pace University | 76% | $49,887 | $26,647 | $7,227 |
| Hofstra University | 63% | $49,411 | $23,690 | $6,673 |
| Campbellsville University | 83% | $48,918 | $23,690 | $6,673 |
| Cornell University | 11% | $47,675 | $15,786 | $7,551 |
| Liberty University | 56% | $47,586 | $7,509 | $7,656 |
| ECPI University | 72% | $47,562 | $24,704 | $6,858 |
| Brigham Young University – Idaho | 97% | $47,403 | $6,0552 | $7,907 |
| Universidad Ana G. Mendez – Gurabo Campus | 100% | $47,383 | $4,825 | $5,112 |
| Rochester Institute of Technology | 66% | $47,089 | $19,555 | $6,334 |
| Saint Leo University | 60% | $46,466 | $10,869 | $9,940 |
| Villanova University | 29% | $46,316 | $30,900 | $7,207 |
| Full Sail University | 100% | $45,901 | $7,531 | $11,104 |
| Azusa Pacific University | 69% | $45,685 | $21,117 | $7,001 |
| Boston University | 22% | $45,529 | $33,085 | $7,067 |
| Boston College | 28% | $44,887 | $39,582 | $4,930 |
| Northwestern University | 8% | $44,641 | $41,435 | $5,734 |
| New York University | 20% | $44,440 | $29,480 | $7,355 |
| Brown University | 8% | $44,365 | $42,652 | $7,251 |
| Capella University | 100% | $44,248 | $5,051 | $9,835 |
| University of Rochester | 29% | $43,989 | $33,531 | $5,621 |
| The New School | 57% | $43,936 | $16,566 | $6,893 |
| Georgetown University | 15% | $43,779 | $40,160 | $4,846 |
12 Tips to Bring College Costs Down
There are a few ways to lower the cost of college.
1. Begin in High School
Check with an academic advisor to see if you can take (AP) college classes while still in high school. This is also called “dual enrollment”. It is one way to work towards your degree while living with family. You can reduce the number of credits to pay for at college.
2. Study for a two year associate’s degree
Many students earn an associate degree to save money on college tuition. According to the NCES, the cost of attending a public two year college is $10,598 per year. It averages $26,593 per year at public four year colleges. Aside from savings, another plus is getting your general education courses out of the way. But word to the wise – only accredited schools tend to work with transfer credits.
3. Look into an online degree
Some students may find it more affordable to earn a college degree online. For one, colleges often charge a lower per credit rate for distance learning. Then there’s the flexibility. In most programs you log in anytime and from anywhere. This may be useful to you if you hold a job, are in the military or have a family. It also saves on commute expenses and you do not have to relocate.
4. Study in state or in district vs out of state
Many colleges have a few sets of pricing. One for residents of the college’s state. Another for in district students, and a third for international students and out of state residents. As you may guess, it tends to be cheaper to attend college in-state. According to NCES’s last study, the average cost of earning a four year degree at a public college (in state) is $19,488. Or $24,854 if you pay out of state tuition and fees. Private schools are even higher and cost an average of $41,468.
5. Explore Housing Options
Room and board and transportation can add up so you might explore the costs of housing options. Students can explore living on campus vs. off campus along with living with family or not living with family.
The NCES gathers data on the COA of living on campus for students pursuing a four year degree. These costs relate to three types of colleges: Public, private nonprofit and private for-profit. Students’ COA was the highest ($50,300) at private nonprofit colleges. However, COA is lower at private for-profit colleges ($32,200) and public colleges ($24,300).
6. Apply for Scholarships and Grants
Scholarships and grants are money you do not pay back. Unlike a loan, they should not add to your student debt. There are a wide range of scholarships to apply for. Some are easy to apply to – enter for a chance to win. Others are available from your college, private and professional donors. You can also see what federal student aid is available to you in the form of a Pell Grant. For the year 2019 – 2020, the max Pell Grant award is $6,195.
7. Buy and sell used and gently worn books
Some courses use the same textbooks from year to year. When possible, buy (then sell) used and gently worn books. According to the National Association of College Stores (NACS), 44% of students rent course materials too. You may also be able to download a cheaper digital version of your book. About 22% of students download free content and this trend is on the rise.
8. Avoid Credit Card Debt
If you are taking out a student loan, the thing to avoid is more debt. Set a budget and try to abide by it.
9. See if you qualify for a tuition waiver
Many states and schools grant tuition waivers. These tend to be for groups such as veterans, teachers, or dependents of employees.
10. Work-Study
Many colleges have work study programs that pay students’ wages in part time jobs. You might be able to do this as a full-time student, or study part time. In 2017, another NCES study found that 81% of part time undergrads help jobs while attending college. Yes, it does stretch the time to earn a degree over a longer period. But on the other hand, you would earn some money while gaining experience.
11. Check if you can get credit for experience
Adults returning to school and military students may qualify for credit based on prior learning, training or experience. By having fewer credits to pay for may bring college tuition down.
12. Graduate Faster in Less than 4 years
Some students attend summer school and pile on the credits to quicken the path to graduation. This can help you enter the job market to start earning. Also it can save you money on extra costs like housing, supplies etc.
Is College Worth This Expense?
Now that you know how much it might cost you to attend college, the other thing to look at are possible benefits. Here are three popular reasons to earn a college degree.
College Grads tend to Earn More in their Lifetime
According to the Bureau of Labor Statistics (BLS.gov), “the more you learn, the more you earn”. The BLS.gov did a study that looked at average weekly earnings at each degree level. Associate, bachelor’s, master’s and professional / doctorate degrees. They found lifetime earnings went up with each level of education.
Degree Level | Average Weekly Earnings |
Doctorate | $1,743 |
Professional Degree | $1,836 |
Master’s Degree | $1,401 |
Bachelor’s Degree | $1,173 |
Associate Degree | $836 |
High School Diploma | $712 |
For some Careers You Need a College Degree or Beyond
According to BLS.gov, in 2016, 37% of occupations called for a college degree. Of these, 21% of jobs need a bachelor’s degree. These include areas like teaching, management, engineering, and computer related jobs.
There are also jobs where you need a master’s, PhD or professional degree. A few are Nurse Practitioner, Physical Therapist and Lawyer. So, depending on your career goals, you may need to go to college and grad school to be able to pursue your chosen path.
The Job Forecasts for People with a College Degree are Brightest
Having a college degree is no guarantee you will get a job. But jobs that call for a bachelor’s, master’s or doctorate are among the fastest growing according to one BLS.gov study. Average growth rates to 2024 are 8.2%, 13.8%, and 12.2%.
Among people age 25 and older with a bachelor’s degree or higher, the unemployment rate was 2% in January 2020. The overall national unemployment rate is 3.6%.