Minnesota Office of Higher Education
According to Sallie Mae, the average American family will spend $24,164 this year on undergraduate college for 18-24 year olds. For four-year private institution, that number jumps to $41,875. For a two-year public college, it’s $13,531. So, how do we pay for college? Good Question.
Minnesota millennials face a tough challenge: a lot of jobs require degrees, but they don’t come cheap. Minnesota millennials are smarter than ever, nearly 40 percent of young professionals in the state have a bachelor’s degree or higher. That number puts Minnesota’s youngest generation to join the work force seventh nationally.
A new survey shows a lot of Minnesota college students are graduating with a lot of debt.
It’s that time of year when many high school seniors are getting their acceptance letters from colleges. And, just as importantly, details on the financial aid they’ve qualified for, or scholarships they’ve won.
In about two months, schools will be closing for the summer. That means, the kids will need some activities to keep from getting bored.
According to Fidelity’s annual College Savings Indicator study, about 69 percent of families say they’ve already started saving for college, up from 58 percent back in 2007. That’s a good thing, because Campus Consultants, Inc. estimates the average college tuition for public school 20 years from now to be close to $50,000 a year. For private school, it could be $85,000 a year.
More Americans have college debt now than at any time in our history, according to a new report from the Pew Research Center.