The Most Expensive Colleges In The U.S.

A new era is upon us, and while it’s not quite the end of the world, it sure feels like it when the sticker shock hits the pocketbooks of those sending their kids to college.

It’s not just the college-bound that are feeling the pinch, an increasing number of past borrowers are struggling to pay. The current default rate on federal student loans stands at 13.4% for the first three years that students are required to make payments, the highest level in 14 years.

Colleges have jacked up costs high enough for student debt to top $1 trillion.

Unless something changes, it’s only going to get worse. At this rate we’ll be seeing $130,000 a year colleges by 2030.

Between costs approaching $60,000 a year, an increase in student loan defaults and over $1 trillion in student loan debt, it's clear that the current model of raising tuition every year (at a rate higher than inflation) is unsustainable.

College costs began to increase at a rate faster than inflation in the early 1980s. This has been a continuing trend: 74 colleges now charge over $55,000 per year. (Just 19 did last year and only one the year before that.)

Most Expensive Colleges for 2012-2013

This is the 6th annual Most Expensive Colleges ranking compiled by CampusGrotto.com. The significance of this year’s ranking is that it is the first year a college has passed the $60K/year mark in total cost.

Sarah Lawrence College is once again named America’s most expensive college, marking the 5th year in a row it has topped the ranking.

One school on the list, Mount Holyoke College, had their price remain the same as last year thanks in part to a tuition freeze. This is the first time since 1968 that the college has not increased the cost of attendance and was enough to drop the school 33 spots to #94 on the most expensive list. It will be interesting to see if we see more of these tuition freezes in the coming years.

The price tags shown for these institutions do not mean that these schools are financially out of reach.

Just because these schools have high tuition does not mean you will actually be paying that amount. Many schools will provide a financial aid package that meets 100% of a student's financial need (Cost of Attendance - Estimated Family Contribution). While going to college is still expensive, many of the colleges here offer excellent financial aid packages. Some colleges, like Brown University, even eliminate tuition altogether for lower income students. (It is the middle class who are seeing financial difficulties in paying for college.)

Read more [link to www.campusgrotto.com]