TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Wednesday, July 16, 2014

50 Colleges Charge > $60,000/Year

Business Insider, There Are Now 50 Colleges That Charge More Than $60,000 Per Year:

As the average cost of higher education in America continues to rise, at least 50 American colleges and universities are now charging students more than $60,000 per year. ... Last year, only nine colleges charged more than $60,000.

25 Most

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This is just the sticker price. What is the actual average cost with merit-based scholarships taken in to account?

Posted by: Anon. | Jul 16, 2014 7:32:38 AM

The right statistic is average tuition, less scholarships and grants, across all of the thousands of colleges in the country, not gross-tuition at the top 1% of colleges by cost.

Average net tuition is lower today in real terms than it was 10 years ago.

Posted by: Anon | Jul 16, 2014 7:45:58 AM

I don't know what it is with these anons on this board, but man, they have their head up the proverbial.

From, we can see that the average net tuition at 4 year public institutions jumped from $9400 to $12,600 since 2004. (during a time of declining middle-class wages and wealth, I might add).

Perhaps the better indicator is average student debt, which was about $15,000 in 2004 and is around $33,000 today.

Posted by: Unemployed Northeastern | Jul 16, 2014 8:36:36 AM

A few more notes:

- at the rate some of those colleges are increasing their sticker prices, we will see the first $70k/year undergrad institutions in probably 2-3 years.

- To address prior posters, even the most generous of these institutions has a financial aid ceiling; generally at a household income of $180k to $200k. Paying $64k per year, after taxes, from $180k or $200k is a massive burden, particularly when we realize that most $200k household incomes come from our more expensive metro areas.

- In the top 25, we see only 3 Ivies, no HYP, no Stanford, no MIT. No Williams or Wellesley or Swarthmore. Drexel has a higher sticker than Penn. Bard more than Amherst. RPI more than MIT. Trinity and Wesleyan more than Yale. The Veblen Good Theory is alive and well in higher education, it would seem.

Posted by: Unemployed Northeastern | Jul 16, 2014 8:43:14 AM

So, what we've discovered is that NYU is, in fact, a trap school?

Posted by: No, breh. | Jul 16, 2014 1:36:12 PM