Students seeking an Ivy League education at many New England schools can expect large scholarships or have to prepare for large student loans.
A notable number of private universities in the area have increased costs to the point where one year of college costs more than $90,000.
Topping the list is Tufts University, with an estimated cost of just under $96,000 (including housing and food). Wellesley students are expected to pay her $92,000. Those who attend Yale University will face an estimated bill of about $91,000. And Boston University students will pay just over $90,000 next year.
Harvard University, which has been the subject of controversy over the past year, has not yet released estimated costs for the 2024-2025 academic year, but this year's fees are comparatively low at $79,450.
University price increases vary, but all are higher than the current inflation rate of 3.2%.
Certainly, most students who attend will pay well under that price. Most receive some form of financial aid or scholarships, but their out-of-pocket costs still exceed the average annual income of Americans.
The school price increases come as Americans currently owe $1.8 trillion in student debt. President Joe Biden is working to enact a broad pardon plan, but has hit several roadblocks in the process.
Some schools that have raised tuition fees have acknowledged that students and families are worried about the cost of education.
“As the cost of higher education continues to rise across the country, we are sensitive to the burden felt by college students and their families,” Wellesley wrote. “Students currently receiving financial aid can expect their cost of attendance to remain the same, absent increases in tuition, room and board.”
