Anyone familiar with the basic rules of averages will have realized that the HSBC estimate is likely to include significant variation in either direction – and this is true. At the very top-tier US universities (the majority of which are private non-profits), fees and living costs are likely to add up to around US$60,000 per year, but it’s also possible to study in the US at a much lower outlay.
Those seeking a more affordable option may find lower tuition fees at US universities within the public sector. These are typically run as state university systems – collections of colleges within a state, which share some administrative aspects while operating as separate institutions. Public universities in the US have two tuition fee rates: one for state residents and one for everyone else. The second (more expensive) category applies equally to applicants from other US states and from other countries.
According to student support organization College Board, published tuition fees for 2014/15 at state colleges are an average of US$9,139 for state residents, and $22,958 for everyone else. This compares to an average of $31,231 at private non-profit colleges. The cheapest options of all, however, are public-sector two-year colleges – also known as community, technical or city colleges – where average fees for 2014/15 are just $3,347.
Admittedly, you can’t complete a full degree at a two-year college, but you can gain an associate’s degree. This counts as the first half of a bachelor’s degree, which can then be completed by transferring to a university for an additional two or three years.
Average fees at US universities, 2014/15 |
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Public two-year colleges
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Public four-year colleges (in-state fees)
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Public four-year colleges (out-of-state fees)
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Private non-profit four-year colleges
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Tuition and other fees
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$3,347
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$9,139
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$22,958
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$31,231
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Room and board
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$7,705
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$9,804
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$9,804
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$11,188
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Total (per year)
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$11,052
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$18,943
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$32,762
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$42,419
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Source: College Board
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When transport and other living expenses are factored in, College Board estimates the following annual budgets for undergraduate students in 2014/15:
1. $16,325 (community college)
2. $23,410 (in-state students at a four-year public college)
3. $37,229 (out-of-state students at a four-year public college)
4. $46,272 (private non-profit four-year college)
While these averages provide a helpful overview of the broad range of study costs in the US, it’s worth remembering that there remains significant variation in tuition fees charged by each type of institution. At the most prestigious public universities, for instance, fees may be just as high as those in the private sector. For instance, the University of Michigan (the highest-ranked public US university in the QS World University Rankings®) estimates fees for new out-of-state students in 2014/15 at $41,906, plus $10,246 for room and board, and $1,048 for books and study supplies.
