The importance and cost of a college education
Historical Average Cost of 4-Year College Tuition
• From 1963 to 2020, the cost of tuition increased by 2.05% per year after adjusting for inflation.”
• The average cost of college has more than doubled in the 21st century; the compound annual growth rate (CAGR) of tuition is 4.11%.
• The average cost of attendance for a student living on campus at an in-state public 4-year institution is $27,146 per year or $108,584 over 4 years.
Source: educationdata.org – August, 2021
The average cost of college has more than doubled in the 21st century with an annual growth rate of 2% over the past 10 years.
At the same time, college is becoming both more important for a young person trying to gain a foothold in the American economy – and more expensive.
A report published in 2024 by the National Center of Education Statistics (NCES) on Annual Earning by Educational Attainment showed that, “In 2022, the median earnings of those with a bachelor’s degree were 59% higher than the earning of those who completed high school […] as their highest level of attainment.”
What’s causing this exponential growth in the tuition and fees a college student must bear? It’s simple. More and more people are placing a greater value on the benefits of a higher education. Allegis Financial Partners has a number of tools and strategies you can use to potentially help you afford the college education that will give your kids the opportunity to succeed in school and in life.
We’ll be happy to explain these strategies to you in detail, including which one is virtually tax free, which one aims to offer a reasonable return, and which one provides guaranteed growth.
To set up an appointment, simply fill out this form or give us a call at 866-271-0215.
We’d be happy to come to you at a time that’s convenient for you.