A bachelor’s degree is a great way to open up new career opportunities, increase earning potential, and gain valuable knowledge and skills. For most jobs, getting a bachelor’s degree is the first step.
But how much does it cost to get a bachelor’s degree? In this article, learn about the average cost of a bachelor’s degree in the U.S. and the factors that affect it.
The Average Cost Of A Bachelor’s Degree In The U.S.
The cost of a college degree in the United States can vary greatly depending on the type of degree, the institution, and the student’s circumstances.
According to the Education Data Initiative, the average cost of college in the United States is $35,551 per student per year. This amount includes tuition, books, supplies, and other daily living expenses.
Here’s a more detailed breakdown of the average cost of a bachelor’s degree:
1. Tuition And Fees
Tuition and fees vary significantly by type of institution and degree program. Public universities typically charge lower tuition and fees than private institutions. In addition, some degrees, such as those in engineering, may cost more than others.
The average tuition and fees for a bachelor’s degree at a public university are $9,377 per year for in-state students and $27,091 for out-of-state students. On the other hand, the average tuition and fees at a private university are $37,641 for for-profit colleges and $18,244 for non-profit colleges.
2. Room And Board
Room and board are the second largest expense regarding the cost of a college degree. The cost of room and board can vary significantly depending on the type of institution and the student’s living arrangements.
The average cost of room and board at a public university is $11,557, and the average cost at a private university is $12,857.
3. Books And Supplies
The cost of books and supplies can vary significantly depending on the type of courses the student is taking and the type of materials required for those courses.
In general, the average cost of books and supplies for a bachelor’s degree is $1,230.
4. Miscellaneous Expenses
Miscellaneous expenses are other expenses associated with attending college, such as transportation, personal expenses, and technology. These vary quite a bit for bachelor’s degree programs, ranging from $2,774 to $5,294.
The Factors That Influence The Cost Of A Bachelor’s Degree
When considering the cost of a Bachelor’s Degree, some factors can influence the total expense. Here’s a quick look at some of them:
1. Online Or On Campus
An important factor in determining the cost of a Bachelor’s Degree is whether you choose to pursue your degree online or on campus. Most online programs are more affordable than on-campus programs due to the lack of overhead costs associated with online education.
2. Private Or Public Schools
Generally speaking, private universities are more expensive than public universities. This is because private universities are typically smaller, more selective, and offer more specialized courses and programs.
Additionally, private universities often have higher tuition fees and additional fees for housing, meals, and other amenities.
Schools in larger cities or areas with a higher cost of living tend to have higher tuition fees than those in more rural or less populated areas. Additionally, schools located in different states can have varying tuition rates, so it is essential to research the cost of tuition for schools in different geographic regions.
4. Type Of Program
The type of program students choose to pursue is also a significant factor in determining the cost of a bachelor’s degree. Programs in STEM fields, such as engineering and computer science, tend to be more expensive than programs in humanities fields, such as English and history. Additionally, certain specialized programs can have significantly higher tuition costs than others.
5. Scholarships Or Financial Aid
Students can reduce the cost of getting a degree by taking advantage of scholarships or other forms of financial aid. Scholarships can help offset the cost of tuition, while other forms of financial aid, such as student loans or grants, can provide additional assistance.
Many schools and organizations also offer special grants or scholarships for students with financial needs or from underrepresented backgrounds.
Explore Available Bachelor’s Degrees
How much does it cost to get a bachelor’s degree? It can vary greatly depending on the school and program. This is why you should take the time to research the best bachelor’s degree program to prepare yourself better.
If you need help managing the costs of studying, check out Go Degree’s guide on scholarship websites that can help you reduce your expenses.