In-State College Tuition Costs Vs. Out-of-State College Tuition Costs November 9, 2009
Paul Partridge comparing in-state college costs vs. out-of-state tuition costs.
So the time has finally come for you and your family to begin the exciting and oftentimes overwhelming task of researching colleges. There are of course many things to consider when choosing a school that’s right for you. You have to ensure that the college offers the major you want to study, has a dorm that you can see yourself living in for the next year and that the campus and surrounding areas will give you the true college experience you have been waiting for your whole young life.
Most times when we begin to evaluate this college experience one huge thought always comes to mind… how far will I be from home? Now this is different for everyone. Some New Jersey students want to go as far away as their feet will carry them in hopes of having some new, exciting experiences; and on the other hand some students want the excitement of living away from home, but would still like to visit on weekends for a great home-cooked meal and to have their laundry done. But beyond just the miles from your house to your college you must also take into consideration just how much money you will pay for those miles.
When many of us are looking into colleges there are a number of financial factors to keep in mind and everyone is looking for the best deal. Knowing exactly what to look for can be scary especially if you are the first child in your family going to college and your parents have not been down this road yet. One thing to keep in mind is that you will pay a substantially higher tuition costs if you attend an outof-state school.
The reason behind this tuition rise is that a large portion of funds that public colleges get each year is from the state taxpayers. So the students whose parents have been paying taxes to that state for a required period of time receive a price cut. Colleges also understand that most students who are in-state will remain in state when they graduate which means once they land that fabulous first job with their new degree they will continue to pay taxes to the state and help the economy and that in turn keeps even more tax money coming the college’s way.
For example, The College of New Jersey has listed their prices for in-state and out-of-state tuition. For an in-state student, tuition for one semester including all fees and excluding room and board is $6,494.50 but now take that exact same package for an out-of-state student and the price jumps to $10,837.50. This is a grand total of $4,343.00 more a semester! Rutgers University also offers big savings for in-state residents. For a New Jersey resident to attend Rutgers and live on campus costs $22,262 including all tuition, fees and room and board. That figure jumps to $33,172 for a non New Jersey Resident. That’s $10,910 a year! That is a huge amount you will be paying just to cross state lines.
Most colleges offer this tuition information on their respective websites so before you decide on applications comparison shop online. It will help you gather a much better idea of each school’s cost before applying.
