The Cost of a Degree
From application fees to tuition and room and board, the final tally of a college education can be astronomical.
February 3, 2021
According to Georgetown University, in 2020, 65% percent of job openings required a college degree, and the percentage is expected only to rise. It’s no surprise, therefore, that the expectation to attend college is placed on so many high school seniors.
But if college is so vital to our future, why does it cost so much?
$20,770 was the average cost of college in 2017-2018, just for public in-state. The average cost of private schools was $46,950.
There are many costs to college, including tuition, room and board, a meal plan, books, transportation, and more, but before students even have to tackle all of that, there is also the cost of applying to college. Some students spend hundreds — or thousands — of dollars applying to colleges, not even sure if they will get the results they want. The most common application fee was $50 in 2016, while some schools charged up to $90.
Most schools also require students to send standardized test scores, which, of course, entail fees for most students.
The base price for the SAT is $52 and with the essay it is $68. If a student takes an SAT subject test too, it is $26 for registration and $22 for each test. While the College Board has recently decided to end the SAT Essay and Subject Tests to “reduce and simplify demands on the student”, they still charge a high price for students. Students get free score sends, but it is only free for a short period directly after testing, meaning students will not know the score they are sending. After, it costs $12 for each school that receives their score. The ACT also has similar high prices for their test and score sends.
The College Board also has a foot-hold in the financial aid area of the college application process with the CSS Profile. While not all schools require it, about 200 colleges do. The first CSS Profile sent to a school costs $25 and each one after is $16.
So, why do all these numbers matter?
Not many high school seniors know which school will be the right fit, especially in this time of uncertainty, so applying to multiple colleges can be a smart strategy — but the costs can quickly add up. It is understandable that colleges need to pay admissions officers, but the amount of fees that surround the process can be overwhelming, especially for 17 and 18 year olds and their families. It seems like the mountain of fees is an indication of what is to come.
Shockingly, around 44 million Americans today hold almost $1.6 trillion in student debt. In other words, 1 in 5 adult Americans carries student debt. Therefore, the very thing that is supposed to prepare young people for the future is also placing too many of them in crippling debt.
There is no simple solution to this problem. Of course, the decision to not attend college may be justifiable, but when cost is the only deterrent, it may be worth looking to models from other countries. Norway and Sweden, for instance, offer free college to their students, though they’re able to do so because of higher tax rates.
Perhaps free college in the U.S. is not currently feasible, but if the United States wants bright, young people to tackle the issues of the world, the first step is to make sure college is affordable for the next generation.