[Danny Vesokie | Affiliated Financial Partners]

So true. I agree with the statement that a college education is a total waste of money for many people. In my opinion, it’s not worth the investment unless you’re going into a vocational field like plumbing, electrical, mechanics, engineering, computers, or technology. For these fields, a college education can be a valuable investment that will pay off over time. But for other fields, such as the arts, humanities, and social sciences, a college education may not be worth the investment. The cost of a college education at a private four-year university can vary widely depending on the institution, location, and other factors. As of my last update, here are some general points on tuition costs:

Average Costs (2023-2024 Academic Year):

• Tuition and Fees: On average, tuition and fees at private four-year colleges in the United States are about $39,400 per year. This is the average amount students are expected to pay for classes alone, excluding other expenses.
• Room and Board: When you add room and board, the cost typically rises. The average cost for room and board at private colleges is approximately $14,000 per year, bringing the total annual cost to around $53,400.

Additional Expenses:

• Books and Supplies: Students can expect to spend an additional $1,000 to $2,000 per year on books and other supplies.
• Personal Expenses and Transportation: Costs for personal expenses and transportation can also add up, potentially another $2,000 to $3,000 per year.
• Health Insurance: Many universities require students to have health insurance, which can cost anywhere from $500 to $2,500 per year if the student does not have coverage under a family plan.

Variability Among Institutions:

• Elite Universities: Top-tier private universities such as those in the Ivy League can cost significantly more, with total expenses potentially exceeding $80,000 per year.
• Smaller Private Colleges: Some smaller or less well-known private colleges might have lower costs, though still generally more expensive than public universities.

Financial Aid Options:

• Scholarships and Grants: Many students do not pay the full sticker price thanks to scholarships, grants, and other forms of financial aid. The actual amount paid (the net price) can be much lower, especially for families with financial need.
• Loans: Student loans can also help cover the cost, but they need to be repaid with interest after graduation.

Given these variables, it’s important for prospective students and their families to look into specific colleges for precise figures and explore financial aid opportunities to determine the actual cost of attendance.