10 colleges that will bust your budget

These schools feature some of the highest out-of-pocket costs of any in the country.

Bill Briggs, SwitchYard Media, special to MSN Money

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29Comments
Jun 21, 2013 7:54PM
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One of the problems I've seen with student loans is that a lot of people will take out the maximum they qualify for, even if they don't really need it. When I applied they told me I could have $16,500.00/year for two years, then $18,500.00 for the next two years. I was shocked that they would offer me so much considering I was getting financial aide. I chose not to take the full amount that I qualified for and after working my way through college and having the financial aide and student loan I came away with only $6,100.00 in student loan debt. While I was setting up my payment plan the loan officer commented that she was very surprised at how small my loan was, that she had never seen someone come away with such little debt.

 

My sister-in-law takes the maximum and goes part time. She is currently $145,000+ in debt and has at least another year left before she finishes. When she is done she will have a degree in Fashion Design, we think. That is a difficult industry to be successful in, good luck to her.   

Jun 22, 2013 12:45AM
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im so glad i went to my state school for college, even though i don't like it. the amount of money middle class people have to pay for these schools is absolutely RIDICULOUS. college is nice and all, but soooo not worth this amount of debt. F#%@ THAT!
Jun 21, 2013 11:53PM
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...but if you go to santa clara and land a job at google or apple in coding, you're pretty much set. outsiders dont have a shot at some of the jobs that come as perks for these local colleges with huge employment opportunities. you wouldnt see me going to a stupid arts and crafts school for 60,000/yr though!
Jun 22, 2013 12:57AM
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Im a SCAD Graduate, and at the time it was 33k a year. Just 4 years ago. Luckily, I was smart, transferred in, and moved off of campus. SCAD would not be so pricey if the owner, Paula Wallace, wasn't so greedy and didn't give herself 4 million as her salary. SCAD has a lot to offer, but the price of the education, does not equal the amount of money you make in the field. That is not the case for all, but for many it is so.
Jun 21, 2013 11:55PM
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This is a bigger scam than buying a house. Oh how the young are fooled.
Jun 21, 2013 9:38PM
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other than U of Michigan these are all 2nd tier universities.  no harvards or ivy league schools, duke nor vaderbilt,  what's the deal???????
Jun 24, 2013 9:27AM
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If you don't have a solid family financier behind you, I'd recommend foregoing these expensive schools if it's all going to be based on college loans.  Once out of school, you are crippled by the amount of debt, which lives forever and has to be paid.  For that reason, creditors for your car, apartment, home, credit cards won't give you much, if anything.   It's really hard to make enough money to live on, plus pay back thousands in relentless college loans.  On the other hand, if you have a white knight, it's manageable.

Jun 24, 2013 2:43PM
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If you want to go to these schools, plan on working at least part time.  I actually worked 40+ hours a week through 2 part time jobs for 4 years of college.  Also, be smart.  I mean, be really smart.  Get a scholarship, book award, grant, fellowship.  There is tons of free money out there.  Quit being mediocre.  Just because you get A's does not mean you are special.  Be awesome and work your tail off - I did and got loads of free money.

If you are mediocre, go to community college.  
Jun 24, 2013 4:13PM
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The low interest gov't student loan programs that have been offered for the last 30 to 35 years have given colleges and universities the green light to jack up their prices almost at will.  What sounds like a great deal on the front end (low interest rate)  bites you on the behind (a**) on the back end. Now with the gov't taking out the middleman (competition) from the equation for these loans you will either see higher or varible interest rates or further increases in tuition and room and board.  Probably both!!  Once our gov't gets involved, you can most assuredly see declining quality and higher costs. 
Jun 24, 2013 3:49PM
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Any college can be pricey. Here's where the taxpayers are getting fleeced now: these so-called "vocational" schools admit anyone and everyone, including the homeless, sign them up for federally guaranteed loans (yep, they default and we get to pay) by the tens of thousands. It's like the mortgage scandal from a few years ago. Those who do "graduate" get a certificate to make $9 an hour and end up with $50k in loans.
Jun 22, 2013 1:08AM
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A "typical" 4-year university education does NOT cost $200,000; "typical" is closer to $20k or so.
Jun 24, 2013 5:31PM
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Michigan is the only worthwhile school on this list.
Dec 27, 2013 3:59PM
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Johns Hopkins is a bit over 60,000 dollars.  Is that money worth paying for that school?  My son got admitted.

Jun 24, 2013 4:55PM
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A lot of times, one has to weigh more then just the yearly tuition cost, with the degree one's going for (different schools have different programs in different majors that stack up against one differently, so that one of the best schools for one degree program isn't best for another, etc), to what one will need.

 

I'm looking to return to school at a certain point, and given the classes I have taken, and the degree I'm looking at, Drexel has one of the best fits.  I looked around, looking at the cost, but the simple fact of the matter is, that a lot of other programs, with a lot cheaper tuition costs, would leave with me with fewer transfer credits, which could apply over.  If one's having to go 4-5 years at a lower cost per year, vs 2 years at the higher rate, it isn't a given that down the road, one will be paying more.  Drexel also has a means on the undergraduate end, to take the classes at Burlington Community College, as their professors commute, teach the classes, and one gets the degree from Drexel at about $10,000 to $12,000 a year less then on the main campus.

 

And some of the other schools, the program doesn't exactly "fit" where I'm wanting to go, from the degree I already have.  It can be a very individual thing, for which what transfers, what you're wanting to do, how easily one's prior course credit can fit into another program can all effect the bottom line.  But this is something that many also don't consider, but is very possible for a cost savings as well.  College transfers.  One can take the freshman and sophomore years at a college with a lower tuition cost, then transfer in (if the course credits work out right), to a school that would give one of the top degrees for what one's wanting to do.  In the end, the name on their diploma will be whatever, the higher level classes will be from that program, but the first couple years one could have saved a bundle.  The planning doesn't all have to take into account, attending one school only, as transfers are always possible...

 

In my case, starting all over, without transfer credits seems a potentially higher cost, without the benefit, vs having a program that is a better fit wrt what credits I already have, where I'm wanting to go in live, and being able to complete it in less time, as I won't have to take as many classes overall (due to transfer credits) to get the newer degree...

Jun 24, 2013 4:39PM
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It's not tuition that hurts. Tuition can be covered by Grants and Scholarships. It is Room and Board plus the other miscellaneous expenses that will put you in debt of $10,000 to $20,000 per year  at higher education instituition.(College).

 Most people can expect to be $40k to $60k in debt after 4 years of college unless they live at home or from a wealthy family subsidizing costs.  No matter..... going to college is not cheap.  It's still for the wealthy or those Athletic kids getting free rides with athletic scholarships.

 

 In fact those kids that want to be in Pro Sports ... develop a training camp and skip the regular learning cycle about obtaining a degree

and make them pay their way too.

Jun 24, 2013 4:20PM
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Good for you Donttasememan. You played it smart.
Jun 24, 2013 10:43AM
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It seems like all we  see lately lately are articles that knock colleges. Education and our teachers have  been taking a hit in our country for quite a while and I am one person that is sick of it. The message should be to go to college and take full advantage of the opportunity.
Jun 24, 2013 8:06AM
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What do you expect, these are just "NO NAME" schools.  They should have listed some REALLY schools.  Have a good day and enjoy the comments.
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