Yahoo Finance 15 States With The Lowest College Tuition and Fees
In this article, we look at the 15 states with the lowest college tuition and fees. You can skip our detailed analysis on edcuational stats, and head over directly to the 5 States With The Lowest College Tuition and Fees.
Figures released by The US Census Bureau state that by 2021, an estimated 14.9% of the population aged 25 and above had completed some college but not a degree, while 10.5% had completed an associate degree. 23.5% had a bachelor’s degree as their highest level of education, while 14.4% had completed a master’s or advanced professional degree. Another pattern which was noticed was that foreign-born people that had recently arrived in the United States were more likely to have college education than foreign-born who had arrived earlier than them.
According to a report by the Bureau of Labor Statistics, there is a direct relationship between education and earning levels. In 2022, individuals with less than a high school diploma were earning as little as $682 per week, compared to $1,005 for those with a college degree. Income rises as you go higher up in educational attainment. Bachelor’s degree holders make $1,432 on average per week, followed by $1,661 for those with a master’s degree.
According to the Annual Survey of Colleges by The College Board, California has the lowest college tuition and fees in the United States, where in-district students paid an average of $1,428 during the academic years 2022-23. Vermont has the highest college tuition and fees, estimated to be $8,660.
While state governments across the country take steps to make education more affordable for the public, a number of large corporations in the US are also taking initiatives to promote college education. One such example is that of Amazon.com, Inc. (NASDAQ:AMZN), which, in 2021, announced to pay 100% cost of tuition, fees, and books for its hourly-wage employees in the US.
More than 750,000 employees of Amazon.com, Inc. (NASDAQ:AMZN) are eligible for this program, which is also likely to help boost the education industry. Amazon.com, Inc. (NASDAQ:AMZN) has vowed to invest up to $1.2 billion to expand education and skills training benefits to its workforce in the country.
Last year, AT&T Inc. (NASDAQ:T) spent $10.5 million in tuition assistance for its workforce, which also included non management employees. Nearly 2,500 of AT&T Inc. (NASDAQ:T)’s employees signed up for the tuition reimbursement program. Internal research at the company showed that employees that had attained further education or enhanced their skill-set with new training were more likely to get a new, better job within the organization, compared to employees who had not done so. In addition to this, AT&T Inc. (NASDAQ:T) also offers several discounts for students and teachers in its weekly and monthly wireless plans.
Another fine example of supporting education is FedEx Corporation (NYSE:FDX), which offers tuition reimbursements worth $5,250 to its ground package handlers, including for college education. Those FedEx Corporation (NYSE:FDX) employees that have attained college education can then go on to study for an exclusive discount at Robert Morris University, which will allow FedEx Corporation (NYSE:FDX) employees to take online classes from anywhere and get a university degree.
Retail giant Walmart Inc. (NYSE:WMT) also announced in 2021 to invest up to $1 billion over the next five years to cover 100% of college tuition and book fees of its employees under the Live Better U (LBU) Education Program. This would enable 1.5 million Walmart Inc. (NYSE:WMT) associates in the country to earn educational qualifications. Walmart Inc. (NYSE:WMT) is the largest private employer in the United States. Likewise, The Kroger Co. (NYSE:KR) in the retail industry, also offers its employees up to $21,000 for both part-time and full-time employees in education benefits, for any degree ranging from high school equivalency exam to Ph.D.
More than 15,000 associates have participated in the program since its launch in 2018, according to The Kroger Co. (NYSE:KR). Earlier this year, the company also announced its plan to invest $770 million to raise hourly wages and improve healthcare offerings for its employees.
Wells Fargo & Company (NYSE:WFC) is one of the leading financial services companies in the United States. Employees at the company can receive up to $5,000 in tuition reimbursement each year. Wells Fargo & Company (NYSE:WFC) also offers scholarships for dependent children of its employees – ranging between $1,000 and $3,000 per annum. Firms such as Wells Fargo & Company (NYSE:WFC) and others discussed in this article help contribute in making education more accessible for the general public. This is in addition to loans and grants offered at governmental level to students in the country.
Methodology
We have ranked states with the lowest college tuition and fees using data released in October 2022 by The College Board in its Annual Survey of Colleges. Average in-district tuition and fees for two-year college programs in public institutions in states across the US were considered. States are ranked in descending order of tuition and fees for college education. No data was available for Alaska, and therefore it is not part of our analysis.
Photo by Helena Lopes on Unsplash
Now let's head over the list of states with the lowest college tuition and fees in the United States.
15. Arkansas
Two-Year College Tuition and Fees: $4,089
Arkansas is located in southern United States. According to The College Board, the average two-year college degree tuition and fees reduced by 2.90% compared to last year to stand at $4,089 for academic years 2022-2023. 38.8% of the population aged between 18 and 24 in Arkansas has a college or associate degree, according to the American Community Survey 2021 conducted by the Census Bureau.
14. Georgia
Two-Year College Tuition and Fees: $4,035
College tuition and fees have been on a steady decline in the state of Georgia, having dropped by 11.10% over the last five years. It ranks 14th on the list of states with the lowest college tuition and fees.
13. Hawaii
Two-Year College Tuition and Fees: $4,019
Hawaii is an island state that is located 2,000 miles off from the US mainland. College tuition and fee is estimated to be $4,019 for a two-year program according to The College Board. 36.4% of the population aged between 18 and 24 have a college or associate degree in the state. Hawaii also ranks among the most educated states in America in terms of population aged 25 and above with a bachelor’s degree or higher.
12. Montana
Two-Year College Tuition and Fees: $4,006
Montana is situated in western United States, and known for its diverse terrain ranging from mountains to plains. The two-year college tuition and fees is a little over $4,000 according to The College Board. This is a 6% drop in fees from last year. 37.1% of the youth in the state have a college degree.
11. Nevada
Two-Year College Tuition and Fees: $3,916
Nevada is located in the western region of the United States, and is popular for its deserts, casinos, and vibrant night life. The state ranks low in terms of higher educational attainment, but 35.2% of its population aged between 18 and 24 have some form of college degree. This is made possible due to affordable tuition and fees in the state, which has continued to decline over the last five years.
10. Maine
Two-Year College Tuition and Fees: $3,842
Maine is one of the most educated states in the US, with 42.6% of the population having a college or associate degree, while 36% hold a bachelor’s degree or higher. According to The College Board, it costs $3,842 in tuition and fees for a two-year college degree in the state.
9. Mississippi
Two-Year College Tuition and Fees: $3,730
Despite being one of the poorest states in America, Mississippi has one of the highest rates of college education attainment in the country, with 43.3% of the population aged between 18 and 24 having a college degree. According to The College Board, in-district students in Mississippi pay an average of $3,730 on college education.
8. Nebraska
Two-Year College Tuition and Fees: $3,494
Nebraska is a state in the Midwest region of the United States. The state is home to several educational institutions offering affordable college and university education. It ranks eighth in the list of states with the lowest college tuition and fees, estimated to be $3,494 for a college degree spanning two years. 43.6% of Nebraska's population aged between 18 and 24 hold some college or associate degree, according to the Census Bureau.
7. Kansas
Two-Year College Tuition and Fees: $3,489
Kansas is a midwestern state in the US known for its natural beauty. It is one of the more educated states in the country, with 43.8% of its population aged between 18 and 24 having a college or associate degree, while 35.4% have completed at least a bachelor’s degree. College tuition and fees were estimated to be $3,489 by The College Board in its survey in 2022, which is a drop of 4.90% compared to last year.
6. Florida
Two-Year College Tuition and Fees: $3,242
Florida is popular for its hundreds of miles of beaches and numerous theme parks. The state is also recognized in the country for having affordable college education. The College Board estimated the average tuition and fees of a two-year college degree to be $3,242 in Florida. 41.3% of Florida's youth have a college or associate degree.
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Disclosure: None. 15 States With the Lowest College Tuition and Fees is originally published on Insider Monkey.