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Saturday, September 28, 2024

Average cost of college went up for students in Montgomery County in 2022-23 school year

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Alan Paller Founder | SANS Technology Institute

Alan Paller Founder | SANS Technology Institute

College tuition fees rose slightly in Montgomery County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $10,917 on average to attend higher education courses at the time, $5 more than the previous school year.

Among the four institutions providing full disclosure in the county, Washington Adventist University stood out with the highest tuition fees, reaching an average of $25,200. Montgomery Beauty School followed with an average of $24,000 per year. Montgomery College students were offered the lowest annual tuition fees at $10,369.

At the time, at least $7.2 million in grants or scholarships were awarded to full-time undergraduates who started at the Montgomery County universities in the 2022-23 school year. Additionally, federal student loans reached more than $765,220.

Currently there are six higher education institutions in Montgomery County, including Yeshiva College of the Nations Capital, Omega Studios' School of Applied Recording Arts & Sciences, and Montgomery Beauty School.

Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.

According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.

Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.

Of the six institutions in Montgomery County, two did not provide detailed data on tuition fees, including Omega Studios' School of Applied Recording Arts & Sciences and SANS Technology Institute.

Available data sometimes exceeds 100% due to rounding and administrative calculations.

Total Student Aid in Montgomery County Universities in 2022-23 School Year

InstitutionNumber of Students Receiving GrantsTotal Amount of Grants ReceivedAverage Amount of Grant Per StudentNumber of Students Receiving LoansTotal Amount of Loans ReceivedAverage Amount of Loans Per Student
Montgomery Beauty School26$70,780$2,72231$105,323$3,398
SANS Technology Institute------------
Omega Studios' School of Applied Recording Arts & Sciences------------
Washington Adventist University56$1,000,232$17,86128$187,290$6,689
Yeshiva College of the Nations Capital9$112,039$12,4490$0$0
Montgomery College1,085$6,022,776$5,55192$472,607$5,137

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