Saturday, October 29, 2011

Higher Education Bubble Update: Colleges and Universities Charging $50k+ Increases 25X in 3 Yrs.

2012 Mercedes E550 Coupe ($56,590) = 1 Year of College
Top 25 Colleges for Tuition and Room & Board, 2011-2012
RankCollege2011-2012 Tuition,
Room and Board
1Sarah Lawrence College $59,170
2Landmark College $57,330
3New York U. $56,787
4Columbia University $56,310
5Harvey Mudd College $56,268
6Wesleyan U. $56,006
7Claremont McKenna College $55,865
8Johns Hopkins U. $55,742
9Berklee College of Music $55,615
10Bard College $55,592
11Barnard College $55,566
12Vanderbilt U. $55,556
13Trinity College $55,450
14U. of Chicago $55,416
15Dartmouth College $55,365
16Bates College $55,300
17Stevens Institute of Technology $55,276
18Vassar College $55,135
19Washington U. in St. Louis $55,111
20Boston College $55,079
21Haverford College $55,050
22Pitzer College $54,988
23Connecticut College $54,970
24Bard College at Simon's Rock $54,960
25Bennington College $54,960

From the Chronicle of Higher Education (subscription required):

"The 50K club is getting crowded: 123 institutions now charge $50,000 or more for tuition, fees, room, and board, according to data released by the College Board. That's up from last year, when 100 colleges and universities charged that much."

MP: The table above shows the top 25 colleges for tuition, and room and board, for the current 2011-2012 academic year.   

In this related Chicago Tribune article, they point out that: a) only 58 schools charged more than $50,000 for tuition and room and board in 2009-2010 and the year before it was only five colleges, and b) an increasing number of colleges are now charging more for tuition than the average American earns per year ($42,000 according to the Social Security Administration).

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