College costs for families rise 10% to $34,019

Total college costs for families rose by an estimated 10% for the 2025-26 academic year, reaching an average of $34,019, according to a report by Sallie Mae and Ipsos. This figure encompasses tuition, fees, books, technology, meals, housing, and travel expenses.

Families covered 49% of these costs through out-of-pocket payments from income and savings. Other funding sources included scholarships and grants (27%), borrowing (22%), and gifts from friends or family (2%).

Price remains a decisive factor in the college selection process, with 79% of surveyed families reporting they eliminated institutions at various stages due to cost. Additionally, 53% of respondents suggested that colleges should respond to rising expenses by lowering tuition rates.