Top 10 Most Expensive Private Colleges in the U.S By Net Cost
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| Top 10 Most Expensive Private Colleges In The US By Net Cost |
Do private schools cost more than public ones?
Generally speaking, private schools are far more expensive than public ones.
Even after accounting for all costs, including housing and board, financial assistance, and other expenses, private institutions are still, on average, 54% more expensive than public universities, despite their frequent promotion of their substantial scholarship programs and claims that few students really pay the entire sticker price. Our research on public vs. private colleges (spoiler alert: public universities are a superior deal) amply illustrates this.
Both local and state governments provide funding for public universities. State financing is provided to community colleges, whereas local and state funds are given to state universities. The governmental funding is what makes the tuition so lower.
Private universities rely solely on tuition and endowment monies; they do not receive any assistance from the government. The endowment fund is bolstered by contributions from the college's friends and alumni as well as certain businesses.
A private college's ability to spread its operating expenditures per student increases with enrollment. There isn't much need to hire extra instructors to reduce operating costs because their classes are already small. It also depends on whether the private institution is a day school where students live in apartments on campus or if it offers lodging on campus. If the students are living on campus, a rise in the demand for new students may have an effect on the accommodation that is available.
Learn more: Top 10 Cheapest Private Colleges In The US By Net Cost
Top 10 Most Expensive Private Colleges In The US By Net Cost
1. California Institute of the Arts
$56,876 in net annual costs
The California Institute of the Arts, or CalArts, is the most costly private university in the United States. The average annual cost of attendance at this expensive university is $56,876 for tuition, books, and housing. Yes, that is per year!
Santa Clarita, California is home to CalArts. The majority of students major in subjects that are not recognized to be very profitable after graduation, such as dance, critical studies, video, music, theater, or painting. Students who are concerned about drowning in student debt should be cautious, even if this college may create really skilled artists.
2. Beacon College
$50,481 in net annual costs
Beacon College, located in Leesburg, Florida, comes in second on our list. Beacon was established in 1989 with the goal of serving students with learning difficulties such as dyslexia and ADHD. Beacon may have good intentions and be making a significant contribution to the academic success of some marginalized communities, but students must pay a high price—an average of $50,481 annually—for this opportunity.
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3. Berklee College of Music
Annual net cost: $46,805
In Boston, Massachusetts, there is a renowned music college called Berklee. It is especially well-known for producing world-class jazz musicians; its alums have won multiple Academy Awards, Grammys, Emmys, and Tonies.
Although having graduated from Berklee will place you in prestigious company and possibly gain you respect in the music industry, the honor comes at a high cost; the typical student pays $46,805 annually for their degree and related expenses.
Despite having many talented alumni, Berklee is our choice for the worst institution in America by ROI because of its outrageous costs and poor economic results after graduation.
4. University of Miami
$46,098 is the annual net cost
Located in Coral Gables, Florida, a Miami neighborhood, University of Miami is a private research university. It has more than 130 undergraduate programs to choose from and houses both a medical and law school. Although UM's campus is stunning and it is ideally situated close to a bustling metropolis, attending the university comes with a high price: the annual net cost of attendance is $46,098.
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5. ArtCenter College of Design
$46,054 is the annual net cost
Located in the center of Los Angeles County in Pasadena, California, lies this private art school. For those who are artistically inclined, it is a rather costly option, with an average annual tuition of $46,054. Although it is a highly regarded university among visual artists and designers, students should keep in mind that this is a difficult field to break into and that graduating with excessive debt will financially strangle them.
6. Emerson College
$45,171 in net annual costs
Emerson College, a Boston, Massachusetts-based private liberal arts college, was established in 1880 as a "school of oratory." The college now offers 31 undergraduate programs and is split into two schools: the School of Communication and the School of the Arts. Its film department is among the biggest in the nation. Despite being ranked by U.S. News & World Report as a "top regional university," students should be aware of the cost, which is $45,171 annually on average.
7. Rhode Island School of Design
$44,979 in net annual costs
The Rhode Island School of Design is an additional arts college (several on this list), with an average annual tuition of $44,979. The widely recognized Rhode Island School of Design Museum, one of the biggest collegiate art museums in the nation, is yours to enjoy if you can afford it. Even though this highly prestigious college has produced many successful artists, four years after graduation, the average wage is $58,131. Although this is fairly good for an art school, prospective students should still exercise caution when considering a large loan load.
8. Spelman College
$44,833 net annual cost
With a strong academic standing, Spelman College is a historically Black women's liberal arts college located in Atlanta, Georgia. With an average student costing $44,833, it is the most costly HBCU in the nation by net cost. The Spelman College Museum of Fine Art, which features artwork by women of the African Diaspora, is located there.
9. Savannah College of Art and Design
$44,632 is the annual net cost
The most costly college is Savannah College of Art & Design.
SCAD is one of the most well-known private art schools in the American Southeast, with two facilities in the state of Georgia. Despite providing the city with a wealth of artistic activities like the Savannah Film Festival and deFINE Art, SCAD is an extremely costly university, with an average annual cost of $44,632 per student.
10. Loyola Marymount University
$44,467 in net annual costs
Located in Los Angeles, California, LMU is a private university that completes our list of the top 10. It is still associated with the Roman Catholic Church and was started by Jesuits. The average annual cost of attendance for Loyola Marymount University students is $44,467.
In summary
In the US, private universities are far more costly than public ones. Public universities are frequently less expensive. Private universities can be expensive for the poor, and repaying student loans could result in debt after graduation.
The net cost of the most costly private colleges in the US exceeds $50,000. In terms of program selections, private universities usually offer fewer academic majors than public colleges. Public institutions can offer additional degree possibilities if they enroll a larger student body. A public university will provide you with more possibilities if you haven't settled on your field of study yet.
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