Tuition at these 4 universities will top $90,000 a year this fall
FILE - A view of Wellesley College campus, \a private womens liberal arts college in Wellesley, Massachusetts. (Photo by Jessica Rinaldi/The Boston Globe via Getty Images)
The cost to attend several private colleges and universities this fall will top $90,000 a year.
Tufts University, Wellesley College, Boston University and Yale University led the pack for the most expensive colleges and universities for the 2024-25 academic year in the New England area, according to FOX Business.
The cost includes tuition, room and board, and other expenses without financial aid.
Tuft University in Medford, Massachusetts, is charging $95,888, according to its website.
At Wellesley College, tuition, room and board and health insurance for the 2024-25 academic year will cost $92,060.
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At Boston University this fall, tuition, housing and other expenses will be $90,207 for this upcoming academic school year.
The estimated cost to attend Yale University in New Haven, Connecticut, is $90,975.
The New England colleges and universities are more than double the national average for a private university. The average private university tuition in the U.S. is $38,768 annually, according to the Education Data Initiative, citing 2023 data.
Meanwhile, the average cost of in-state tuition at a public, four-year institution in the U.S. is $9,678, the Education Data Initiative said.
Cost of college, universities surges amid massive student loan debt
As millions of people work to pay off student loan debt and snowballing interest, the cost of college and university programs is continuing to surge.
College and university tuition has increased 169% since 1980, according to a report from Georgetown University’s Center on Education and the Workforce.
The report titled "If Not Now, When? The Urgent Need for an All-One-System Approach to Youth Policy," said that while the cost has increased exponentially, the average salary among young adults only rose 20%.
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An estimated 43.2 million borrowers currently have federal student loan debt, according to Education Data. The average federal student loan debt balance is $37,088.
Overall, the outstanding federal loan balance is $1.602 trillion and accounts for 92.8% of all student loan debt in the U.S., Education Data said.
Some borrowers have received student loan forgiveness under the Biden administration, including a federal program that helps teachers, nurses, firefighters and other individuals in public service.
FOX Business contributed to this report. It was reported from Cincinnati.