Cheapest Places to Go to College, By State

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Last Updated:November 14, 2023

Cheapest Places to Go to College, By State

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A recent report by EducationalData.org reveals the average cost of college in the United States has tripled in 10 years. With an annual growth rate of 2%, the average cost of college for 2022-23 is $36,436 per student per year. What a difference over the annual cost of tuition at a 4-year public college in 1963, which was $2,078 when adjusted for inflation.

The report found the cost of attendance (COA), which includes tuition, room and board, books and supplies, and other fees, could exceed $400,000 by the time a student receives a bachelor's degree.

Here's a look at some of the most interesting facts from the report.

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Most expensive private colleges

Institution	Tuition
^{Columbia University in the City of New York}	^$61,671
^{Bard College at Simon’s Rock}	^$61,169
^{Franklin and Marshall College}	^$61,062
^{Vassar College}	^$60,930
^{Amherst College}	^$60,890
^{Colorado College}	^$60,864
^{Tufts University}	^$60,862
^{Brown University}	^$60,696
^{Reed College}	^$60,620
^{University of Chicago}	^$60,552

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Least expensive private colleges

Institution	Tuition
^{Turtle Mountain Community College}	^$2,250
^{Curtis Institute of Music}	^$3,015
^{Grace Mission University}	^$3,120
^{Sioux Falls Seminary}	^$3,600
^{Universidad Pentecostal Mizpa}	^$4,220
^{United Tribes Technical College}	^$4,252
^{Brigham Young University-Idaho}	^$4,300
^{Pacific Bible College}	^$4,370
^{Huntsville Bible College}	^$4,560
^{Universidad Ana G. Mendez-Online Campus}	^$5,080

Cheapest in-state tuition by state

State	Tuition
Vermont	$17,593
New Hampshire	$16,749
Illinois	$14,579
Pennsylvania	$14,532
Connecticut	$14,487
New Jersey	$14,184
Massachusetts	$13,939
Virginia	$13,931
Michigan	$13,716
Rhode Island	$13,697
South Carolina	$12,544
Minnesota	$11,836
Oregon	$11,537
Arizona	$11,410
Delaware	$11,343
Kentucky	$10,976
Alabama	$10,617
Maine	$10,377
Tennessee	$10,271
Hawaii	$10,197
Ohio	$10,049
Indiana	$9,656
Louisiana	$9,656
Maryland	$9,401
Iowa	$9,373
Missouri	$9,310
Colorado	$9,269
Kansas	$9,081
North Dakota	$9,065
South Dakota	$9,012
Alaska	$8,849
Wisconsin	$8,782
Nebraska	$8,761
Mississippi	$8,642
Arkansas	$8,468
New York	$8,416
California	$8,401
West Virginia	$8,252
Oklahoma	$8,064
Texas	$8,016
Georgia	$7,525
Washington	$7,485
Idaho	$7,482
New Mexico	$7,393
North Carolina	$7,260
Montana	$6,993
Utah	$6,764
Nevada	$6,434
District of Columbia	$6,152
Wyoming	$4,785
Florida	$4,541

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Borrow up to 100% of your cost of attendance (minimum $1,000)

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Average costs

Beyond the price of admission, students will pay the most for living expenses, whether on campus or off. The report found that 87% of students reside off campus. However, most colleges and universities require first-year students to reside in student housing (on campus). However, EducationData.org found the growth of on-campus housing rates outpaced those of rent between 2003 and 2014. In 2003, the average dorm cost was 29% below the median rent price, but by 2014 it was only 7% below. Still, it is cheaper to live on campus.

Student loans

It's no wonder most students need to borrow money to attend college. The report found the average student borrows more than $30,000, with the student loan debt average at $37,787.

EducationData's secondary report on student loan debt found that 30% of undergrads borrow from the federal government. This includes:

Stafford Loans: 52.8% (18.6% subsidized, 34.2% unsubsidized)
Direct Consolidated Loans: 35.5%
Parent PLUS Loans: 6.4%
Grad PLUS Loans: 5%
Perkins Loans: 0.4%

Students attending public universities average $33,500 to earn a bachelor's degree. For those in private universities, non-profit school students borrow $33,700, while for-profit education loans average $49,700.

The report found the student loan growth rates to outpace the rising tuition costs by 166.9%.

Private student loans account for 7.71% of student loan debt. Of sources of debt, 95% of students have student loan debt, with another 23% using credit cards to fund education needs.

Related: Best Private Student Loans

Student loan debt by degrees

Degree	Loan debt
Bachelors	$32,714
Masters	$83,651
Doctoral	$125,276
Professional	$250,426

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Multiple repayment options from deferred to immediate principal and interest
Choice of how long you take to repay the loan - 5, 8, 10, or 15 years
0.25% interest rate reduction when you make required payments by automatic debit
Borrow up to 100% of your cost of attendance (minimum $1,000)

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The bottom line

With the average college tuition per academic year for college students at state schools costing $9,678, undergraduate students rely on student aid to get a college education. To find federal funding, apply through the Free Application for Federal Student Loans (FAFSA) and complete a College Board CSS Profile. This will determine your need for grants, scholarships, and federal funding, and you'll receive a student loan package you may accept or deny to attend the school that makes the offer. To round out additional expenses, a private loan from a bank or similar lender may be necessary.

Is it worth taking on the debt associated with a college education? Fifty-two percent of students did not think so, according to EducationData. But nearly half did think it was worth it, so you should be the judge.

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Lissa Poirot is Joy Wallet’s Head of Content and an award-winning journalist and editor with a focus on finance, travel and health. Her work has appeared online and in print, and she has often been cited as a source on both. She currently resides in Pennsylvania.

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