As tuition costs surge, many people are starting to question the value of a college education. But a degree from one type of institution is still likely to pay off, according to a recent analysis.
Attending a public university that charges in-state tuition is likely to be a good investment for anyone who goes on to earn at least $50,000 before taxes for the first 10 years after graduation, according to research from the Strada Education Foundation.
Students who attend such schools also should be able to pay off student loans, the foundation adds.
The payoff exists even in states with the most expensive tuition, Nichole Torpey-Saboe — Strada vice president of research — told The Wall Street Journal.
Strada says the median cost of in-state college tuition and fees is $8,000 annually. You can expect to pay an additional $11,000 for room and board.
Contrast that with private-school tuition and fees, which clock in at a median of $30,000.
Although community college is less expensive than attending four-year schools, it doesn’t have the same payoff and often does not justify the cost of attending the school, according to Strada’s research.
If the cost of college has you concerned, perhaps it’s time to check out the “10 Colleges Where Tuition Is Free.”