Rising degree costs require students to work more or incur more debt. From 2000 to 2009, the average cost of public tuition rose 68 percent.
The average tuition cost for a four-year public college in the United States was $7,202 for the 2009-2010 school year, and the average cost for room and board was $8,193, which totals $15,593. For private colleges, the average tuition cost was $26,273, and the average room and board cost $9,363, which totals $35,636.
At these rates, the average tuition and room and board cost for four years is $62,372 for a public colleges and $142,544 for private colleges.
Many students use credit cards or student loans to finance part or all of their education. The average balance for undergraduates in 2004 was $2,169. Upon graduating in 2008, students were left with an average of $23,200 of student loan debt, which is 75 percent higher than in 1996.
As students enter the marketplace, they are left with an average student loan debt of $25,000. If they avoid debt as an undergraduate, they will have paid an average of $60,000 for a public college and $140,000 for a private college out-of-pocket or through scholarships.