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Home > Paying for College > What Does College Cost?

 

What Does College Cost?

How much will it cost, anyway?

 

The cost to attend college for a full year is more than tuition alone. There are additional room and board, books and supplies, personal and transportation expenses. Do not let the total costs shown below determine your college choice. Make sure you check what Financial aid is available to help pay for college.

Average Annual Expense for a Resident Undergraduate Attending Full-Time at a Minnesota College, 2014-2015
Average Annual Expense for a Resident Undergraduate Attending Full-Time at a Minnesota College, 2014-2015

* The 17 members of the Minnesota Private College Council.

** The 11 members of the Minnesota Private Career College Association.

*** Tuition and fees vary slightly among individual state universities and state colleges.

Source: U.S. Department of Education, IPEDS Institutional Characteristics Survey


Adding up the costs

  • Tuition and fees
  • Students pay tuition for classes and instruction provided by the college. In addition, there are fees automatically charged for services such as the health center, library or student activities.

    To view current 2014-2015 tuition and fees at each college, click on one of the following:

  • Room and board
  • This refers to the basic price of living at the school during the academic year. "Room" refers to housing, whether it's in an on-campus dormitory or off-campus. "Board" refers to the price of eating, whether it's in the college cafeteria or buying food and preparing meals yourself.

    Not all room and board options are available at all schools. Many two-year schools do not have on-campus housing. Some larger schools only have college housing for undergraduates or only for first- and second-year students. Some colleges do not allow students to live off campus until their third or fourth year. Contact individual schools for specific details.

  • Books and supplies
  • Unlike in high school, students in college are expected to buy their own books. In addition, they're expected to purchase their own pencils, paper, art supplies, calculators and computer supplies - whatever they need to complete their courses.

    Buying used textbooks can help students save money, and may be available in the campus bookstore or from online used booksellers such as:

  • Personal expenses
  • Regardless of the type of institution the student chooses, they will have some personal expenses such as laundry, clothing, recreation, medical care, insurance and so on. Students should plan to spend at least $1,000 each academic year on these items.

  • Transportation expenses
  • All students spend some money for travel, whether they live on campus or commute to school daily. Students living on or near campus must travel there at the start of the school year and return home at the end. Most students also go home at least once during the year.

    Commuter students who travel to and from the school on a daily basis must carefully figure in the cost of fuel and parking or public transportation. Both can add up quickly. The transportation costs for commuter students are also built into the financial aid calculations used by the school.

Most students are eligible for some type of financial aid

Minnesota students and families received almost $3.3 billion in financial aid during the 2012-2013 academic year to help pay for college. The money comes from the state of Minnesota and the federal government, colleges, and private sources. There also are tax benefits and deductions that make what families have to pay more manageable.

Use the U.S. Department of Education's net price calculator to help gauge what it might cost your family to attend a college of your choice anywhere in the nation. The net price estimates how much it might really cost to attend a particular college depending on family income and subtracting any federal, state and institutional aid undergraduate students may receive. You can also use our financial aid estimator for Minnesota colleges.

 

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