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Saturday, December 21, 2024

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

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Christine Reina, Educator | LinkedIn

Christine Reina, Educator | LinkedIn

College tuition fees rose 3.2% 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 $25,319 on average to attend higher education courses at the time, $778 more than the previous school year.

Among the 19 institutions providing full disclosure in the county, Bryn Mawr College stood out with the highest tuition fees, reaching an average of $59,330. Ursinus College followed with an average of $58,016 per year. Montgomery County Community College students were offered the lowest annual tuition fees at $10,650.

At the time, at least $66 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 $21.9 million.

Currently there are 20 higher education institutions in Montgomery County, including PITC Institute, Bryn Mawr College, and Saint Charles Borromeo Seminary-Overbrook.

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 20 institutions in Montgomery County, Gratz College did not provide detailed data on tuition fees.

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
The Beauty Institute-Ambler260$1,202,000$4,623300$3,000,000$10,000
Gwynedd Mercy University143$3,717,314$25,995107$1,044,397$9,761
Premier Barber Institute19$115,455$6,07722$203,069$9,230
Ursinus College381$16,671,971$43,758307$2,977,489$9,699
Pennsylvania State University-Penn State Abington607$5,775,958$9,516423$3,181,196$7,521
Rosemont College78$1,369,904$17,56378$819,490$10,506
Harcum College151$2,969,070$19,663115$826,980$7,191
Cortiva Institute33$152,176$4,61127$196,532$7,279
Eastern Center for Arts and Technology7$38,724$5,5328$52,900$6,613
Gratz College------------
Lansdale School of Business8$40,124$5,0169$40,499$4,500
Bryn Mawr College289$11,559,086$39,997245$1,742,273$7,111
Empire Beauty School-Cheltenham61$321,917$5,27765$514,002$7,908
Lansdale School of Cosmetology Inc5$14,218$2,8446$31,937$5,323
Bryn Athyn College of the New Church75$1,519,827$20,26448$288,837$6,017
PITC Institute95$542,979$5,71691$837,933$9,208
Montgomery County Community College358$2,298,190$6,420218$1,056,879$4,848
Arcadia University482$16,500,677$34,234365$3,804,182$10,422
Saint Charles Borromeo Seminary-Overbrook0$0$00$0$0
Manor College112$1,235,166$11,028115$1,307,520$11,370

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