In 18 Years, A College Degree Could Cost About $500,000

An anonymous reader shares a report: People worried about college affordability today can at least take this to heart: it could get much, much worse. Tuition has been rising by about 6% annually, according to investment management company Vanguard. At this rate, when babies born today are turning 18, a year of higher education at a private school — including tuition, fees, and room and board — will cost more than $120,000, Vanguard said. Public colleges could average out to $54,000 a year. That means without financial aid, the sticker price of a four-year college degree for children born today could reach half a million dollars at private schools, and a quarter million at public ones. That’s for a family with one kid; those with more could be facing a bill that reaches seven figures.


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