Bankrate senior economic analyst Mark Hamrick argues increased financial education of college-bound students could help to aid the fight against student debt.
The cost of college continues to mount, leaving students in greater debt than ever before.
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Over the last two decades alone, the average cost of private colleges within the United States has “increased dramatically." For the 2019-2020 academic year, there are 120 ranked private colleges charging above $50,000 just for tuition and fees, according to data obtained by U.S. News and World, released in September 2019.
The top 10 most expensive private colleges cost an average of $59,131 in tuition and fees, according to the data. This is a stark contrast to $10,541, which the average cost among the 10 least expensive private colleges. Both of those figures exclude the cost of room and board.
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