U.S. Department of Education Releases Annual Report of the Most Expensive Colleges


The U.S. Department of Education’s College Affordability and Transparency Center (CATC) released its report on the most expensive colleges in the U.S.

The list comes out annually and creates a bit of controversy each year. According to CBS, for instance, the list is meant to embarrass expensive schools into lowering their tuition.

However, the report also highlights other trends, such has which regions and which types of schools tend to charge the most money. The most expensive region by a mile (in case you were wondering) is the East Coast.

The CATC compiles all the data and publishes it in the form of an online tool that allows users to filter more than 4,300 schools by tuition and fees.

Anyway, enough with the small talk. Which schools are the most expensive? The following schools found themselves among the ranks of the most expensive private schools:

  1. Columbia University
  2. Sarah Lawrence College
  3. Vassar College
  4. Wesleyan University
  5. George Washington University

And here are the most expensive public institutions:

  1. University of Pittsburgh
  2. Pennsylvania State University
  3. University of New Hampshire
  4. Colorado School of Mines
  5. University of Vermont

While the above schools are the most expensive in terms of raw data, many reduce this burden by offering good financial aid packages. So, the CATC also ranks schools according to net cost, which means that financial aid and scholarships are also taken into consideration.

Here are the most expensive private schools in terms of net cost:

  1. Hult International Business School
  2. School of the Art Institute of Chicago
  3. Boston Conservatory
  4. California Institute of the Arts
  5. The New School

And here are the most expensive public schools in terms of net cost:

  1. Miami University in Ohio
  2. Pennsylvania State
  3. Colorado School of Mines
  4. University of Pittsburgh
  5. University of New Hampshire

Education Secretary Arne Duncan, praised the CATC’s list in a statement released by the U.S. Department of Education last week.

“These lists support our efforts to make college more accessible and to help families make informed decisions on the single most important investment students can make in their own futures,” said Duncan.

Sources:
“Education Department Updates College Affordability and Transparency Lists,” ed.gov, June 30, 2014, http://www.ed.gov/news/press-releases/education-department-updates-college-affordability-and-transparency-lists
“Most Expensive Colleges,” insidehighered.com, July 1, 2014, Michael Stratford, http://www.insidehighered.com/news/2014/07/01/education-department-updates-its-rankings-most-costly-colleges#sthash.BC9zolGD.HCtzHCa8.dpbs
“What are the nation’s most expensive colleges?” cbsnews.com, July 1, 2014, Lynn O’Shaughnessy, http://www.cbsnews.com/news/the-nations-most-expensive-colleges/

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