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Posted at 6:30 AM ET, 01/12/2010

Costs of public vs. private college

By Valerie Strauss

Let’s do a little price comparison, now that Kiplinger Personal Finance has named its best values in both public and private colleges and universities for the current school year.

As you might expect, the sticker price difference is enormous (depending on your definition of enormous).

Kiplinger, which offers financial advice, reported that 39 of the top 100 four-year public institutions of higher education charged about the same or less than the average annual in-state full price, which was $15,213. Many were a lot lower.

The average total per year for a student in a private school is $35,600, according to the non-profit College Board, which owns and administers the SAT as well as other exams and programs.

For in-state total costs at public institutions, the top five values are:

1) University of North Carolina at Chapel Hill -- $15,296 sticker price; $5,912 after aid
2) University of Florida -- $12,863 sticker price; $6,872 after aid
3) University of Virginia -- $19,312 sticker price; $4,815 after aid
4) College of William and Mary (Va.) -- $20,566 sticker price; $6,968
5) State University of New York at Binghamton -- $18,175 sticker price; $12,910

The top five list is different for out-of-state total costs at public colleges and universities:

1) State University of New York at Binghamton -- $26,075 sticker price; $20,810 after aid
2) State University of New York College at Geneseo -- $25,076 sticker price; $21,691 after aid
3) University of North Carolina at Chapel Hill -- $33,184 sticker price; $23,800 after aid
4) University of Florida -- $32,234 sticker price; $26,243 after aid
5) College of New Jersey --$32,404 sticker price; $21,462 after aid

And what percentage of students are helped by aid?

--University of North Carolina at Chapel Hill -- 100 percent
--University of Florida -- 84 percent
--University of Virginia -- 100 percent
--College of William and Mary (Va.) -- 82 percent
--State University of New York at Binghamton -- 76 percent
--State University of New York College at Geneseo -- 75 percent
--College of New Jersey -- 52 percent


Look at the difference in the cost of tuition alone between public and private among Kiplinger’s top five:

1 public) University of North Carolina at Chapel Hill -- $3,865 in state tuition; $21,753 out of state
1 private) California Institute of Technology -- $33,324 tuition; $46,629 total costs; $18,159 cost after need-based aid; $17,715 after non-need-based aid

2 public) University of Florida -- $2,658 in state tuition; $21,107 out of state
2 private) Princeton University -- $35,340 tuition; $46,629 total costs; $17,704 after need-based aid; no non-need based aid

3 public) University of Virginia -- $7,496 in state tuition; $29,054 out of state
3 private) Yale University -- $36,500 tuition; $48,450 total costs; $12,747 after need-based aid; no non-need based aid

4 public) College of William and Mary (Va.) -- $6,688 in state tuition; $26,480 out of state
4 private) Rice University -- $31,430 tuition; $44,088 total costs; $19,984 after need-based aid; $29,423 after non-need based aid

5 public) State University of New York at Binghamton -- $4,970 in state tuition; $12,870 out of state
5 private) Harvard University -- $33,696 tuition; $49,684 total costs; $12,834 after need-based aid; no non-need based aid

Do these sound like great values to you?

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By Valerie Strauss  | January 12, 2010; 6:30 AM ET
Categories:  College Costs, Higher Education  | Tags:  college costs  
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Comments

Is that 100% of Out of State students receive aid at UVA? I can say for sure that my in state daughter is receiving ZERO aid, so I'll assume that to be the case. May want to clarify...

Posted by: JkR- | January 12, 2010 10:01 AM | Report abuse

How can one talk about "value" without mentioning community colleges? In Virginia, when a student graduates with the Associate's degree, there is guaranteed transfer to any public four-year college (after meeting the GPA & course requirements). In addition, the student receives a transfer scholarship. The class sizes are smaller, more diverse, and the faculty are there to teach, not to do research. An in-state student at Northern Virginia C.C. will pay approx. $3374 per year, including fees but not books. And financial aid is available too.

Posted by: drl97 | January 12, 2010 11:07 AM | Report abuse

The amount listed for in-state tuition at William and Mary is incorrect. I am just now looking at the bill for spring semester - tuition alone for spring 2010 is $5,700. FYI, the college had to raise tuition by $300 mid-year due to cuts in state funding. So the total is over $11,000 now (tuition only).

Posted by: mhs11 | January 12, 2010 1:14 PM | Report abuse

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