Budget Busters: Here’s How Much Your Favorite Ivy League University Costs

Budget Busters: Here’s How Much Your Favorite Ivy League University Costs

by Kate Cinnamo | May 7, 2020 | Student Debt | 0 Comments

If you’re college-bound, you already know the price of that four-year education can cost a small fortune. As a nation, we are currently owe more than $1.53 trillion in student loan debt. To put that into perspective, this debt isn’t just owed by recent college graduates.

The average repayment timetable for federal student loans is 10 years, but there’s research suggesting that it actually takes us nearly 20 years to pay off these loans. About 44.7 million Americans have student loan debt, and they’re paying about $393 a month. So, what does it look like from a financial perspective if you want to go to one of America’s top Ivy League schools?

By the numbers

Niche, a website for college-bound students, recently crunched the financial figures on the eight Ivy League universities in the United States.

According to Niche, the reason these colleges are called “Ivy League” has to with the collegiate athletic conference to which they all belong. And yes, most of them do have ivy growing on their buildings.

 

Here’s a brief look at the average costs – from least to most expensive – you can anticipate going to any of these schools.

Princeton – $47,140 each year *with all of the housing costs, it should be noted if housing is included in the tuition or if it’s a separate cost like food and books.

The average housing cost is $8,980 yearly. Then you’ll need to add $6,630 yearly for food, and another $1,100 a year for your books and supplies.

Harvard – $48,949 each year

The average housing cost is $10,300 yearly. Then you’ll need to add $6,630 yearly for food, and another $1,000 a year for your books and supplies.

Yale – $51,400 each year

The average housing cost is $8,700 yearly. Then you’ll need to add $6,800 yearly for food, and another $3,670 a year for your books and supplies.

Cornell – $52,853 each year

The average housing cost is $8,564 yearly. Then you’ll need to add $5,766 yearly for food, and another $930 a year for your books and supplies.

Brown – $53,419 each year

The average housing cost is $8,784 yearly. Then you’ll need to add $5,236 yearly for food, and another $1,571 a year for your books and supplies.