College Cost Data Released by College Board for 2018-2019

 In Education, News

The College Board has released college cost data for the 2018-2019 school year in its annual Trends in College Pricing report. We work with clients to incorporate into their financial plan how to fund college costs. For parents, an important planning discussion topic is the “family philosophy” as it relates to college funding versus other priority planning goals, such as retirement. Both are important and depending on the family’s financial resources, number of children and other unique goals, decisions are typically needed to prioritize the various goals and objectives, a service provided by River Capital Advisors. Please Contact Us if you would like a copy of our free college education planning guide.

Here are the highlights from the report:

4-Year Public Colleges (in-state students):
• Tuition and fees increased an average of 2.5% to $10,230
• Room and board increased an average of 3.1% to $11,140
• *Total average cost for 2018-2019: $25,890 ($25,290 in 2017-2018)

4-Year Public Colleges (out-of-state students):
• Tuition and fees increased an average of 2.4% to $26,290
• Room and board increased an average of 3.1% to $11,140
• *Total average cost for 2018-2019: $41,950 ($40,940 in 2017-2018)

4-Year Private colleges:
• Tuition and fees increased an average of 3.3% to $35,830
• Room and board increased an average of 3.2% to $12,680
• *Total average cost for 2018-2019: $52,500 ($50,900 in 2017-2018)

*Total average cost includes direct billed costs for tuition, fees, room and board, plus a given sum for books, transportation, and personal expenses, which will vary by student.

River Capital Advisors, L.C. is a fee only, independent, investment advisory and financial planning firm affiliated with the Jacksonville CPA firm of Smoak, Davis & Nixon LLP. River Capital Advisors is a financial fiduciary to its clients. Please Contact Us to discuss your unique financial situation and how we can help you in all areas of your financial life.

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