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Top US Colleges Will Cost $90,000 or More; Most Students Pay Less
The cost of attending a top college in the United States could be as much as $95,000 this year. That total includes tuition1 as well as meals and living space at the school.
But college officials say they are helping2 students with financial support. And those from poor families may be required to pay only 10 percent of the costs.
Wellesley College, a private women's school near Boston, Massachusetts, will cost $92,000 for 2024-2025. The college's famous graduates include former First Lady Hillary Clinton, Secretary of State Madeleine Albright and television broadcaster Diane Sawyer.
Philip Levine is an economics3 professor at Wellesley. Levine said the figure "clearly is a lot of money, and it catches people's attention, for sure." He added, "But for most people, that is not how much they're going to pay."
Wellesley says nearly 60 percent of its students receive financial aid. And the average amount of aid is $62,000, cutting the total cost by two-thirds.
For American students, the amount of financial aid makes a difference. This year, however, many are concerned because the U.S. Department of Education is having major problems with a new online form, called the FAFSA. The document helps students apply for financial aid.
One concern is that American-born children of undocumented immigrants4 must provide information about their parents. But the parents may not have the needed identity5 documentation or may be worried about showing themselves to the government.
Mark Kantrowitz is a financial aid expert. He called the new online process "an absolute6 disaster."
Kantrowitz said the problems might prevent students from applying for aid. That, in turn, could lower the number of students going to college and force some schools to close.
Levine of Wellesley said his research has shown that students from lower-income families have been receiving more financial aid over the past six years. But he worries that the difference between the advertised cost and the actual cost will keep some students from applying to top colleges like Wellesley.
Levine said, "People should be making educational decisions based on the actual cost they have to pay..."
Schools on the list of the most costly7 include the University of Southern California, Harvey Mudd College of California, the University of Pennsylvania, Brown University, Dartmouth College and Boston University.
Other top colleges, including Columbia University and the University of Chicago, have not listed their cost of attendance8 but they could turn out to be over $90,000 as well.
Harvard University says its cost of attendance will be $91,000 next year. But the school notes that the average cost for families is only $13,000 and many pay nothing at all. Harvard can support many of its students because its endowment is more than $50 billion, the largest of any university in the U.S.
The College Board is a nonprofit education organization that conducts the SAT college admission9 test. The group's research shows the average cost at private colleges and universities last year was $60,000. At public colleges and universities, the cost was $29,000 for students from the same state; it was $47,000 for out-of-state students.
Kantrowitz said that although many receive financial aid, most students still need an additional10 $10,000 for college each year. "So families are forced to borrow that money or come up with that money from some other source," he added.
Even with the rising costs, Kantrowitz said he believes college is still a good investment11 – as long as borrowing does not get out of control and students complete their studies.
He warns, "if you drop out, you have the debt, but not the degree that can help you repay12 the debt."
Words in This Story
tuition –n. the cost paid for the classes given at a school
graduate –n. a person who received a degree from a school
apply –v. to provide documents in order to be considered for entry to a school
absolute –adj. the highest or greatest amount without a debate
income –n. the amount of money earned by a person or family in a year or period of time
endowment –n. the money a university or other organization has in order to fund13 its operations and investments14
admission –adj. describing the process of letting someone into a school or club
drop out –v. to leave a school without completing a study program and getting a degree
1 tuition | |
n.(某一学科的)教学,讲授,指导,学费 | |
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2 helping | |
n.食物的一份&adj.帮助人的,辅助的 | |
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3 economics | |
n.经济学,经济情况 | |
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4 immigrants | |
n.移民( immigrant的名词复数 ) | |
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5 identity | |
n.身份,本体,特征;同一(性),一致 | |
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6 absolute | |
adj.十足的;绝对的;不受任何限制的 | |
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7 costly | |
adj.昂贵的,价值高的,豪华的 | |
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8 attendance | |
n.出席,出席人数,护理,照料 | |
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9 admission | |
n.允许进入;承认;入场费,入会费,入场券 | |
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10 additional | |
adj.添加的,额外的,另外的 | |
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11 investment | |
n.投资,投资额;(时间、精力等的)投入 | |
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12 repay | |
v.偿还,报答,还钱给 | |
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13 fund | |
n.基金,资金,存款,财源,贮藏;vt.提供资金,积累 | |
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14 investments | |
n.投资( investment的名词复数 );投资额;(时间、精力的)投入;值得买的东西 | |
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