Cost of college expected to increase dramatically in the next 15 - wistv.com - Columbia, South Carolina

Cost of college expected to increase dramatically in the next 15 years

Cost of college expected to increase dramatically in the next 15 years

(Source: the University of South Carolina) (Source: the University of South Carolina)
(WIS) -

Economists expect the cost to attend college to increase dramatically in the next 15 years.

The basic college costs include tuition, fees, room and board, and books. Keep in mind that the type of school your child chooses will impact the price tag. 

According to a recent study conducted by Wealth Front, attending a private university for 4 years will cost about $368,428 in the year 2033. That's up from $175,684 today. These prices include tuition, fees, and room and board expenses. 

The cost of attending a public university will be about $158,400 in the next 15 years compared to $78,192 currently. 

Experts say that if parents start saving for college tuition when their child is born, about a third of the total cost can be raised through earnings.

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