The cost of education is one of the most important issues that worry students and parents today.
According to forbes.com, student loan debt in the United States in 2020 is about $1.56 trillion.
Attending college means not only paying tuition costs but also paying other fees and room and board rates.
This can put a great financial burden on the students and their families.
According to the National Center for Education Statistics, the average total costs for attending college in the United States (including tuition, fees, and room and board rates) was $23,091 for the 2016-2017 year.
Costs can vary widely depending on the institution and the type of college.
For example, the average cost of attending a public college was $17,237 in 2015-2016 while the average cost for attending a private nonprofit and for-profit institution was $40,925 for the year 2016-2017.
In the United States, as in many other universities worldwide, tuition fees are sometimes higher for out-of-state students than for in-state students.
The good news is that many universities, including elite and Ivy League colleges, offer financial aid options to qualifying students.
So, if you’re willing to go to college but can’t afford to cover all the costs, you should consider applying for financial assistance.
University of Melbourne
The University of Melbourne connects over 100 research centers and it is ranked No. 1 in Australia and No.32 worldwide by the Times Higher Education World University Rankings 2017-2018.
This public research university enrolls more than 48,000 students, as of 2016.
Domestic tuition at the University of Melbourne is 9,050 AUD while international tuition is 39,168 AUD as of 2017-2018.
The university is ranked #7 worldwide in graduate employability.
The University of Melbourne is offering a wide range of scholarships to qualifying students.
The University’s Engagement Grants provide funding of up to 250,000 AUD.
Official WebsiteOxford University
A research-based institution, Oxford University is the oldest university in the world.
Considered a top-rated university, Oxford University offers its students access to world-class learning resources.
The majority of undergraduate Bachelor of Arts programs at Oxford University can be completed in three years but some, including Computer Science, Engineering Science, and Physics programs may last four years.
The medicine program at Oxford University includes a three-year pre-clinical stage towards a Bachelor of Arts in Medical Science and a clinical-stage that lasts another three years.
Undergraduate tuition and fees sum up to 9,250 GBP per year.
Eligible EU students may also receive student loans for the entire duration of their course.
Official WebsiteQueens University
Located in Kingston, Ontario Canada, Queens University is home to more than 25,000 students, professors, researchers, and artists.
One of its world-renowned instructors is the 2015 Physics Nobel Prize Winner Dr. Arthur B. McDonald.
Queens University offers both undergraduate and graduate programs in areas such as health sciences, applied science, business, law, education, and policy studies.
The university currently teaches more than 24,000 full-time and part-time students.
Tuition is C$27,502.90 (US$20,891) and students also pay other fees, including Flex dollars for meal plans and library fees.
Official WebsiteNanyang Technological University
Located in Nanyang Avenue, Singapore, Nanyang University is a research-intensive public university that offers programs in a variety of fields.
The university’s catalog includes programs in Accountancy and Business, Design&Media, Art, Communication Studies, Humanities, Engineering, Medicine, Science, Social Science, and Sport Science.
The university’s Lee Kong Chian School of Medicine was founded jointly with Imperial College London.
Tuition for non-subsidized Singaporean students or citizens who don’t receive tuition grants is $23,185 as of 2018.
Nanyang Technological University teaches more than 33,000 students.
Official WebsiteUniversity College London
Located in London, England, University College London teaches more than 38,000 students from 150 countries.
It is a multidisciplinary public research institution recognized for its high-quality programs in a variety of fields, including computer science, clinical medicine, crime science, earth sciences, dentistry, education, English, geography, law, pharmacy, philosophy, political science, psychology, and more.
Undergraduate full-time students pay approximately 12,000 GBP (around $15,000) a year while part-time students are charged around 4,600 GBP ($6,000).
If you want to enroll at University College London, you should also take into account day-to-day and living expenses which can sum up to more than $4,000 a year.
Qualifying students also have access to student loans and grants.
Official WebsiteUniversity of Cambridge
One of the most reputable universities in the world, the University of Cambridge has more than 29 undergraduate Colleges that offer programs in a variety of fields, including arts and humanities, sciences, engineering, and social sciences.
The university teaches more than 18,000 from all over the world and hires more than 11,000 staff.
The university has an acceptance rate of 21%
University of Cambridge charges a tuition of 9,250 GBP (approximately US$11,700) and 21,732 GBP (approximately $27,500) to international students.
There are also living costs that sum up to more than 6,000 GBP (approximately $7,800) a year.
Other course costs include equipment costs, photocopying costs, travel expenses, and study materials.
The University of Cambridge is the second-oldest university in the English-speaking world.
Official WebsiteMassachusetts Institute of Technology
Located in Boston, the Massachusetts Institute of Technology offers 58 minor and 53 undergraduate major programs, combining a rigorous academic training with practical learn-by-doing classes.
MIT also offers an undergraduate financial aid program and about 90% of the Institute’s undergraduate students received financial aid.
The average annual tuition cost is $21,000 after receiving financial aid; students who don’t receive financial aid pay, on average, $70,000 a year in tuition costs.
Total expenses for students who receive financial aid sum up to $50,000 a year.
The university has an acceptance rate of 7% and a 90% graduation rate.
Official WebsiteCalifornia Institute of Technology
Located in Pasadena, California, the California Institute of Technology is a private research university.
Among its alumni, faculty, and researchers, Caltech has 74 Nobel laureates, as of 2019.
The average annual cost of studying at Caltech is $72,084 before financial aid and $23,345 after aid.
The university has strictly need-based financial aid policies.
Among the most reputable programs offered by the Califonia Institute of Technology are the engineering and natural science programs.
The admission rate at the California Institute of Technology is 8%.
Official WebsiteColumbia University
Founded more than two centuries ago, Columbia University is the oldest institution of higher learning in the state of New York.
A private Ivy-League research university, Columbia University has three undergraduate schools, 13 graduate and professional schools, a medical center that is globally recognized, four affiliated seminaries and colleges, 25 libraries, and more than a hundred research institutes.
Its academic programs cover topics from literature to astronomy, engineering, political science, and much more.
The acceptance rate at Columbia University is 7 percent.
The university has a 96 percent graduation rate.
Average tuition is $76,858 a year before financial aid and $23,231 after financial aid.
Official WebsiteHarvey Mudd College
Located in Claremont, California, Harvey Mudd College is a private residential undergraduate college that specializes in engineering, mathematics, and science programs.
It is a top-rated college that enrolls 844 students as of 2017-2018.
The college has an acceptance rate of 15 percent and a graduation rate of 92 percent.
The average annual cost of attending Harvey Mudd College is $76,947 before aid and $34,464 after aid.
The college’s financial aid policy is primarily need-based.
Harvey Mudd allocates annual funding of $3 million to research, giving its students hands-on opportunities in the field and in laboratories.
Official WebsiteFinal Thoughts
Our list has included information about some of the most expensive colleges and universities in the world.
If you want to attend one of these reputable higher-education institutions you should know that scholarships and financial aid options are available for qualifying students and these can help you cover more than half of your costs.
Most of the students who attend these colleges and universities receive a form of financial aid and this helps ease the burden on the students and their families.
If you’re planning to attend one of the schools included in our list, you should bear in mind that they have some of the most competitive acceptance rates, and only the most deserving applicants are accepted.
So, now that you have read our list is your turn to get those grades up and become the ideal college candidate.