Tuition varies greatly between private and public schools. For example, 2010-2011 undergraduate tuition for Columbia University was just more than $41,000, while tuition for the State University of New York was $13,000. Many public schools, such as the State University of New York (SUNY) and the City University of New York (CUNY), offer reduced rates for in-state students, bringing tuition down to below $5,000 per year.
Even if a school offers cheaper tuition, the cost of living in the area might be higher. For example, apartment rentals in New York City are more expensive than housing in more rural areas of the state. Transportation costs are also an important factor to consider.
Private colleges charge higher tuition but often offer a greater range of scholarship opportunities. For example, Columbia University provides full financial aid packages for students whose parents earn a combined annual income under $60,000. Check a college's financial aid page to compare funding opportunities among schools.
Paying higher education costs might result in better job placement and a higher salary down the road. Check job placement rates and average starting salaries for graduates to determine which colleges offer the best value for the price.