Going to an Ivy League school for college may help you earn a competitive salary down the line. But it may cost you a hefty sum upfront.
The average tuition price across the Ivy League colleges is $64,829 — and that's before factoring in housing, food, books and other fees, according to the schools' latest available listed prices.
While several of the elite institutions including Princeton University and Harvard College boast no-loan policies that allow students with demonstrated need to attend for free, federal financial aid recipients still pay an average $22,968 a year for their Ivy League education, according to the Department of Education's College Scorecard data.
Other colleges may offer just as good an education at a much affordable price. Forbes recently named 20 colleges — 10 private and 10 public schools — the "new Ivies." These schools have comparable reputations among hiring managers for producing adept workers and have similarly competitive admissions rates.
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What's more, many of these schools are far more affordable.
The average tuition for your first year at the 10 most-affordable new Ivies is $42,233, according to a CNBC Make It analysis of the latest tuition data available. That number reflects out-of-state tuition prices for the public schools included. Federal financial aid recipients at these schools pay an average $15,436 a year, according to the College Scorecard.
Public schools tend to have lower sticker prices than private schools. Often, as is the case with Ivy League schools, private colleges can offer better financial aid packages through institutional grants and scholarships.
Money Report
These are the 10 new Ivies with the lowest average net price, according to Department of Education data:
1. University of Florida
- Out-of-state tuition: $28,658
- Average net price: $6,275
2. University of North Carolina—Chapel Hill
- Out-of-state tuition: $39,228
- Average net price: $12,414
3. Georgia Institute of Technology
- Out-of-state tuition: $32,940
- Average net price: $14,588
4. Rice University
- Out-of-state tuition: $62,874
- Average net price: $15,091
5. University of Illinois Urbana—Champaign
- Out-of-state tuition: $36,760 - $44,664 (varies based on major)
- Average net price: $16,109
6. University of Maryland—College Park
- Out-of-state tuition: $39,464
- Average net price: $16,590
7. University of Michigan—Ann Arbor
- Out-of-state tuition: $27,864 (figure reflects 2023-24 tuition price, 2024-25 price not available)
- Average net price: $16,792
8. University of Wisconsin—Madison
- Out-of-state tuition: $42,104
- Average net price: $16,834
9. University of Texas—Austin
- Out-of-state tuition: $40,582 - $48,712 (varies based on major)
- Average net price: $18,850
10. Johns Hopkins University
- Out-of-state tuition: $64,730
- Average net price: $20,820
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