In-State Tuition Vs. Out of State Tuition.

Its that time of year again….

Tuition is due. Remember to BREATHE when you see the total! Tuition sure has gone up since I was in school. With a daughter who is entering her third year I was shocked to see the bill.

photo_13839_carouselShe approached me with her budget and proposed costs that were provided by the university. I wasn’t only shocked by the total the university projected for the year but by the total it projected for the year for out of state students. It made me wonder why out of state is more expensive. So, I did my research.

I found an article on economist.com that helps you understand the reasoning behind higher out of state tuition prices. The article covered the issue of most schools being subsidized and the idea that it’s not great to have in-state tax payers subsidizing out of state student’s education. The article goes into further details on understanding out of state tuition. It is a must read if you are confused about the difference or contemplating going out of state for school.

Through my research I gathered a few tips to think about when making the decision about what college to choose.

1) Do your research! Doing your research helps you find the best school for what atmosphere you want to live in and for your major whether it is out of state or in-state.

2) Always compare costs! Looking at the projected costs provided by the schools helps when making that crucial decision. In-state or out of state you will have to think about the costs of living on campus or off. This was one decision I told my daughter she had no choice over. She is living on campus this year. Dorm experience is a big part of college!

Doing your research and comparing costs will pay off in the long run and are a great Financial Strategy For Life!

About Sara Seasholtz

Sara Seasholtz, CFP®, was voted one of "50 Most Influential Women in Charlotte" by The Mecklenburg Times in 2011, and she's been a trusted financial advisor to her clients for over 30 years. Have a financial question?ASK SARA!

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