According to the Education Data Initiative, the current cost of a bachelor’s degree averages $38,270 per year, or $153,080 for four years. However, this expense can vary widely, depending on whether a student attends a public or private school and other factors. Learn more about how much a bachelor’s degree costs here, as well as ways to make your education as affordable as possible.
Key Points
• Bachelor’s degree costs average $38,270 annually or $153,080 for four years, with significant variation between public in-state and private nonprofit institutions.
• Public in-state students spend approximately $108,584 over four years, while private nonprofit university students pay nearly $234,512 including on-campus housing.
• Hidden costs beyond tuition include laptops, cell service, transportation, coffee, clothing, haircuts, laundry, and holiday travel.
• STEM, preprofessional, and fine arts degrees cost more than liberal arts majors due to specialized equipment, lab sessions, and potentially five-year programs.
• Strategies to reduce costs include applying for financial aid, starting at community college before transferring, and pursuing online programs.
Average Cost of a Bachelor’s Degree in the US
As noted above, the current cost of a college degree in the U.S. is approximately $153,080 over four years. This figure includes books and supplies, plus daily living expenses. However, this average doesn’t tell the full story. Consider these data points from the Education Data Initiative:
• The typical student attending a public, four-year school and paying in-state tuition will spend $27,146 per year, or $108,584 for their four-year degree. This includes on-campus housing.
• If a student attends a private, nonprofit university, they are likely to spend $58,628 per year if living on campus, which equals $234,512 over four years.
It’s worth noting that college costs have risen sharply in recent years, doubling since the start of the 21st century.
Tuition Differences by School Type and Residency
When thinking solely about the cost of tuition, you’ll find that it currently averages $9,750 per year for in-state students, and $28,386 for out-of-state students at a public university. At a private university, the annual tuition rises to $38,421 per year.
Here’s how this information looks in chart form:
| Type of College | Tuition per Year | Tuition for 4 Years |
|---|---|---|
| Public, in-state | $9,750 | $39,000 |
| Public, out-of-state | $28,386 | $113,544 |
| Private | $38,421 | $153,684 |
Common Costs of a Bachelor’s Degree
If you want to get a handle on the total cost of a bachelor’s degree, it’s wise to consider all of the various costs associated with this phase of your life. You’ll want to budget for more than tuition and room and board. Consider the following categories that need to be accounted for.
Tuition, Living Expenses, and Hidden Costs
When developing a list of expenses for your time spent earning a bachelor’s degree, you’ll want to account for the basics:
• Tuition and various fees
• Books and supplies
• Room and board
But plenty of other costs can crop up. Think about the following:
• Will you need to buy a laptop or new mobile device? Will you need to pay for a cell service plan?
• How will you pay for incidentals such as transportation around your college town, a large iced coffee to get you going in the mornings, cool clothes you find at the local vintage store, haircuts, and laundry expenses?
• When the holidays roll around, will you need airfare and other costs covered to get home to your family?
• Will you be keeping a car on campus?
These “hidden costs” can add up quickly and make a significant difference in your college budget.
Cost Differences by Major and Program Length
Not all college courses of study are equally expensive. Some programs can lead to steep costs (lab fees, perhaps, or studio art supplies), and the time it takes to get certain degrees can vary, impacting the price you pay.
High Cost vs Lower Cost Degree Paths
As hinted at above, certain majors can be pricier than others. For instance, STEM (science, technology, engineering, and mathematics) and fine arts degrees can be costlier than, say, a liberal arts degree, such as majoring in English or History. The reason you may pay more for a STEM, preprofessional (think medicine and nursing) or fine arts degree is that they can involve specialized equipment and lab sessions.
If you’re a budding electrical engineer or bio major, you will likely be doing considerable hands-on work with pricey materials. (You may snag one of the highest-paying jobs in the U.S. after graduation as well.) Someone who is training to be a fine artist may also pay more for materials; they are going to need to afford plenty of paints, canvases, photographic supplies, and/or clay.
Don’t overlook the fact that certain degrees can be five in the making. For instance, a B.Arch degree, for aspiring architects, is typically a five-year course of study. That can significantly increase your costs compared to those of your friend who’s a Sociology major and will graduate after four years.
And of course, some educational institutions are simply more expensive than others. Some schools are relatively low-cost, and then there are the most expensive colleges in the country.
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Ways to Reduce the Cost of a Bachelor’s Degree
All this talk about how much a bachelor’s degree can cost may make you curious about ways to reduce the cost of your education. Take a closer look at these tactics.
Financial Aid
The majority of college students currently receive some financial aid — about 85% of first-year, full-time undergrads. This aid can include scholarships, grants, work-study, and federal and private student loans. Federal student loans typically charge lower interest rates than private loans and offer certain borrower protections, such as forbearance and deferment.
Colleges, universities, and state agencies use the FAFSA, or Free Application for Federal Student Aid, to assess a student’s financial aid eligibility. The FAFSA can be completed online. It’s recommended that you submit your completed FAFSA as soon as possible after it becomes available (typically October 1 of the year prior to the academic year). That’s because state aid is often given out on a first come, first served basis.
Transferring Colleges
Some students strategically pursue their education at multiple colleges to save money. Here’s how this can work: You start your degree at a lower-priced community college and check off required classes for your major. Then you transfer to a four-year college or university to finish your degree. If you live at home while at community college, you can save even more.
An important point about this tactic is to make sure in advance that your community college credits will be transferable to your next educational institution. Otherwise, you might wind up paying twice for, say, Intro to Psych and Statistics 101.
Online Programs
While not for everyone, online courses and programs can help students save money and enjoy learn-from-anywhere convenience. Tuition for a year of online college can save you $6,765 compared to on-campus classes, according to the Education Data Initiative. That’s $27,000 over four years.
The same organization cites that the average cost per credit hour for an online bachelor’s degree program is $509 for the 2025-26 school year, considerably less than the $791 per hour charged by a standard four-year educational institution.
While the financial savings and ease of online education can be enticing, keep in mind that these classes can have their downsides, too. Some students may have trouble engaging or staying focused. Others may feel as if they aren’t getting as many networking and social opportunities in a virtual classroom.
Is a Bachelor’s Degree Worth the Cost?
In recent years, many people have questioned whether a bachelor’s degree is worth it. We’ve all seen stories of entrepreneurs who have skipped college and done well. Some have done even better than their peers who pursued a degree and then needed to pay off their student debt in the form of federal and/or private student loans.
Here are some facts to think over as you weigh the pros and cons of going to college.
Earnings, Debt, and Employment Outcomes
Just like owning a home, earning a college degree is part of the American dream, and for good reason. According to a November 2025 report by the Brookings Institution (a nonprofit public policy organization), the average degree-holder earns $8,000 more per year than his non-degreed peers.
And that’s after the cost of student debt is accounted for. If you work for 40-some years after graduation, that $8,000 a year becomes a significant advantage, helping you realize your financial goals. The Association of Public & Land Grant Universities (APLU) puts the figure higher still, saying degree-holders typically earn an 86% higher salary than those without a diploma. This can translate into earnings $1.2 million higher over a lifetime.
That said, the amount typically borrowed in pursuit of a bachelor’s degree averages $30,000, which can be a considerable amount of student debt. (Student loan interest rates and terms are important variables when comparing loans and hunting for the best option.) This debt can trigger financial strain and budgeting challenges, which are considerations to be aware of when deciding whether or not to pursue a bachelor’s degree.
Worth noting: By using a student loan calculator as you consider your options, you can gain a clear picture of what kind of debt payments you would owe and for how long.
One other angle to contemplate is career opportunity. Traditionally, college grads are half as likely as non-degree holders to be unemployed, per the APLU. However, that finding may be in flux. A recent analysis of U.S. Current Population Survey data by the Financial Times found that Gen Z men with a college degree had comparable unemployment rates to those of the same age who didn’t get a bachelor’s degree.
While no one can predict how these numbers will play out as the years pass, these facts point to the importance of thinking carefully about whether investing in a bachelor’s degree makes sense for your particular situation and aspirations.
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The Takeaway
If you’re wondering how much a bachelor’s degree costs, the answer is currently just over $150,000 on average. That’s a significant sum of money for most people, but a degree can lead to enhanced employment opportunities and lifetime earning power. Whether a student attends college as an in-state, out-of-state, or private university student can impact their total costs. Strategies to make a degree more affordable include financial aid, transferring from community college, and pursuing an online degree.
Some students may be interested in private student loans after federal loan options are exhausted, though these won’t offer the same protections as federal funding.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.
FAQ
How much does the average bachelor’s degree cost in the U.S.?
As of early 2026, the average cost of a four-year bachelor’s degree is $153,080. However, this number can vary depending on whether you are an in-state or out-of-state student, and study at a public or private university. Your field of study can also impact the cost, due to specialized lab or material fees.
What is the cheapest way to earn a bachelor’s degree?
Some ways to economize on the cost of a bachelor’s degree include choosing your major with an eye on price, taking classes for credit at an affordable community college, and seeking financial aid.
Can financial aid cover the full cost of a bachelor’s degree?
While financial aid typically doesn’t cover the full cost of a bachelor’s degree, in some situations it can. To cover the entire expense of a degree, a student may need to combine grants, scholarships, state programs, and other funding sources.
How much student loan debt does the average bachelor’s graduate have?
Estimates say that the average graduate with a bachelor’s degree has taken out about $30,000 in loans in pursuit of their diploma.
Is it cheaper to get a bachelor’s degree online or in person?
It can often be cheaper to get a bachelor’s degree online. Estimates say you might save about $21,000 over four years. Just keep in mind that, like most things in life, online studies have pros and cons and may not be right for everyone.
Photo credit: iStock/Drazen Zigic
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