This chart (based on a 2008–2009 College Board survey) shows the national average tuition fees at three types of schools and illustrates that hardly anyone pays the advertised rate.
| College Type | Price Tag | Cost to Family |
| 2-Year Public | $2,402 | $102 |
| 4-Year Public | $6,585 | $2,885 |
| 4-Year Private | $25,143 | $14,493 |
Some of the most expensive schools actually cost the least because they have set aside substantial funds to provide financial aid for students. For example, Harvard provides free tuition for all admitted students with family incomes of $60,000 or less.
To find out what the actual annual cost of tuition and room and board will be at the colleges your child is considering, call each school's admissions and financial aid offices. Ask about scholarships, grants, and other discounts that may apply to your family’s situation. College may be a lot more affordable than you think.
These four financial aid tips come from Lloyd Peterson, Vice President of Academic Strategy at College Coach:
- Don’t wait until your kids are admitted to a college before they apply for financial aid. Begin the financial aid process by November 1 of your child’s senior year.
- Financial aid almost always comes in the form of a package. It is rare that kids get a scholarship that covers everything. Typically aid is divided into two parts: a scholarship or grant and student loans and/or a part-time job.
- Financial aid awards are not final. You apply in November, and awards are made in April. If your financial situation changes, you can appeal the award amount.
- Never take a college off your list because you think it’s too expensive. Apply, get accepted, and then let the financial aid office fight for you.