San Diego Housing Market News and Analysis
Annual College Costs 5 years from now
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Submitted by Coronita on December 25, 2019 - 6:05am
In about 5 years from now, college will be something my kid will be considering. Starting to do some research on the costs of tuition + overall cost (including room and board)... Just getting a rough guessimate on how much various options will cost, assuming no way to qualify for financial aid and no merit based scholarships reserved for superstar... Worst case scenario....
Seems like the cost of college has gotten out of hand. Not saying it's going to be a consideration, but LOL on the the cost of private schools. When I first started my kid's 529k account more than a decade ago, I was joking that by the time my kid is college bound, 4 year private school tuition+room/board will probably slightly less than 1/2 million .... I guess I wasn't that far off.
If things are bad now, my sibling is going to flip if they want to send their kids to a pedigree college. 15 years from now, if average annual cost of college continues to be around 5%, is going to be around $620k. And they have two kids.... lol.
For those that can't see the eyechart.
*Community college tuition is about $2k/year
*Cal State tuition is roughly $6k/year.
*UC school tuition is roughly $13k/year.
*Private school tuition is around $46-57k/year
College cost increases annually roughly 5% per year.
5 years from now, 4 years at private schools will ring in at slightly below $400k, and 4 years at UC will be slightly below $200k.
15 years from now (if the 5% annual increase continues), 4 years at private schools will ring in at around $620k.
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