Average College Tuition for the 2024-2025 School Year

How Much Does College Cost?

Tuition often gets most of the attention when it comes to the cost of attending a college or university, but it's far from the only expense to consider.

In addition to outlining the cost of tuition and fees, colleges also provide a total cost of attendance, which includes room and board, transportation, supplies and equipment and other personal expenses.

Here's a quick summary of both the average cost of tuition and overall cost of attendance based on school type for the 2024-2025 school year:

Average College Costs for 2024-2025

Source: CollegeBoard, Trends in College Pricing and Student Aid 2024

Your costs can also vary depending on the type of degree program you're in. Here's a quick breakdown of what you can expect for a bachelor's or master's degree:

Source: CollegeBoard, Trends in College Pricing and Student Aid 2024

Average Cost of College by State

How much you pay for college can also depend on where you plan to study and whether you qualify for in-state or out-of-state tuition. Here's a look at the average costs for public schools in all 50 states, according to CollegeBoard:

Average Cost of Tuition and Fees by State for 2024-25

Source: CollegeBoard, Trends in College Pricing and Student Aid 2024

Average Student Loan Debt

Student loan borrowing has been on a downward trend, with 13 consecutive years of declines in annual borrowing, according to CollegeBoard. Exactly half of bachelor's degree recipients graduated with student loan debt in the 2023-2023 school year.

That said, the average student loan balance remains at $37,797, according to Experian data. That number has declined in recent years, largely due to broad student loan forgiveness efforts, modifications to existing income-driven repayment plans and a yearslong payment moratorium that also paused interest accrual.

Older borrowers continue to carry much of the student loan debt burden, Experian data shows. Here's how the average student loan balance compares for each generation:

Source: Experian data as of the first quarter of 2024; ages as of 2024

There's wider variance among the states for student loan balances than for other types of consumer debt, including auto loans and credit card debt. In most states, average student loan balances range from $25,000 to $45,000. One obvious outlier is Washington, D.C., where the average student loan balance topping $56,000 is notable.

Average Student Loan Balances by State

How to Borrow Less in College

Multiplying average annual college costs by four years can be jarring to any student preparing to begin their college journey. For the majority of college students, student loans are necessary to help them get through school.

But while the standard repayment term for federal loans is 10 years, many students take twice as long or longer to pay back what they owe.

Whether you've just graduated from high school or you've been in college for a few years, it's crucial to research different ways that you can pay for school without relying too heavily on student loans—or even avoiding them altogether.

Here are some potential ways you can borrow less for your college education:

• Pick a less expensive school. Choosing a more affordable college, such as a community college or an in-state public university, can significantly reduce your overall education costs. You can also complete general education credits at a community college and transfer to a four-year school to finish your degree.
• Compare financial aid offers. More expensive schools may offer generous financial aid packages that reduce your actual out-of-pocket costs. To get a true comparison, include all schools you're considering on your Free Application for Federal Student Aid (FAFSA) and evaluate the financial aid award letters you receive.
• Look for scholarships and grants. Federal and state grants, along with needs-based or merit-based scholarships, can reduce how much you need to borrow. These forms of financial aid don't have to be repaid, so they're worth pursuing every year. In addition to school-provided aid, look into private scholarships from nonprofits, companies and community organizations. Use free tools like Scholarships.com and Fastweb to find and apply for opportunities.
• Work a part-time job. If you can balance it with your studies, working part time can help pay for books, transportation or even tuition. You may also qualify for federal work-study, which provides flexible, school-friendly employment. Even if you can't work during the semester, summer jobs can help you earn and save money for the upcoming school year
• Get help from your employer. Some companies offer tuition reimbursement or assistance programs for employees pursuing a degree. While this may not cover all expenses, it can meaningfully reduce the amount you need to borrow.
• Consider military service. Military service can provide generous education benefits in exchange for a service commitment. Be sure to fully understand the terms before committing, especially if tuition assistance is tied to specific duties or timelines.

How to Pay Off Student Loans

Regardless of how much student debt you take on to get through school, it's important to have a good strategy to pay it off. Here are some strategies that can help you achieve your goal of eliminating your student debt faster while saving money on interest along the way.

1. Start paying immediately. Even though most student loans offer a six-month grace period after graduation, making payments during that time can reduce the interest that accrues. Starting early helps shrink your overall debt and keeps more interest from being added to your principal.
2. Make extra payments. Paying more than the minimum each month can speed up your repayment and reduce how much interest you pay over time. Focus extra payments on your highest-interest loans first for maximum savings, even if it means putting in a little extra through side gigs or part-time work.
3. Seek assistance. You may qualify for loan forgiveness or repayment assistance through public service jobs, teaching, military service or health care work. Some private employers also offer student loan repayment as a benefit, which can significantly lighten your debt load.
4. Consider refinancing your student loans. Refinancing can help lower your interest rate and monthly payments if you have strong credit and stable income. Just be cautious if you're refinancing federal loans, since you'll lose access to protections like income-driven repayment plans and loan forgiveness programs.

Learn more: Is It Better to Consolidate or Refinance Student Loans?

Start Building Credit in College to Prepare for Your Future

As a college student, you can get federal student loans without a credit check. But once you graduate, you may need to borrow money for larger purchases like a home or a car. Instead of waiting until you're out of school, consider starting the process of building your credit history now.

You can start with a student credit card or even as an authorized user on a parent's credit card account. Using Experian Go^™, you can also get access to other resources to help you learn how to build credit and even get access to your credit scores and Experian credit report for free to keep track of your progress.