The cutoff dates for colleges are on the horizon. That means figuring out the cost of tuition, room and board, and all the other pricey additions available to students. If the student in your life is headed to one of the many universities and colleges in our fine state, we’ve got a cost breakdown for you.
Here’s Five Fast Facts on the Cost of Minnesota’s Colleges:
- 🎓 Rate-ful Eight - Eight private colleges have pretty insane costs: more than $60,000 for the 2023-24 school year. That includes tuition, fees, and on-campus living costs.
- 💸 Mirage - Not all is as it seems, though. Carleton College has the most expensive tuition in the state at $83,148 a year. But only 36% of the students there pay full price. A student from a household in the median income range will only pay $27,000 a year after grants and scholarships.
- 👩🏫 $5 for a Milkshake - No matter where a student enrolls, they’re going to have to pay for a lot of personal expenses like laundry, medical, and ”recreation.” That runs around $1,000 each academic year.
- 🙀 Balance - Before you outright panic, the average tuition and fees of Minnesota colleges is $7,334 for in-state and $17,269 for out-of-state students.
- 🧠 Big Brain on Brad - The pricing may be worth it: a recent survey shows that Minnesota has the second-highest level of education in the country, right behind the Harvard brainiacs in Massachusetts.
🔥Bottom line: Those eight colleges cost more than the median annual income in the United States (and 400 times what my Paycheckology overlords give me). But it certainly looks like the price tag comes with a quality education. Is that worth it? It’s certainly up to you to decide.
What do you think of these numbers?
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