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Tuition and fees do not include the cost of housing and food. For most students in the US, the cost of living away from home, whether in a dorm room or by renting an apartment, would exceed the cost of tuition and fees. [7] [9] In the 2023–2024 school year, living on campus (room and board) usually cost about $12,000 to $15,000 per student. [7]
The total cost of attendance (indicating the cost of tuition, fees, and living expenses) for first-year law students at UVA Law for the 2024–2025 academic year is $105,334 for Virginia residents and $108,348 for nonresidents. [10]
As of 2013, UVA's $1.4 billion academic budget is paid for primarily by tuition and fees (32%), research grants (23%), endowment and gifts (19%), and sales and services (12%). [107] The university receives 10% of its academic funds through state appropriation from the Commonwealth of Virginia. [ 107 ]
3. Arizona. All 10 campuses of Maricopa Community College allow senior citizens to take classes for credit at 50% of the full tuition cost. Students 65 and older must register between the first ...
A student attending a private four year university has an average yearly cost of $49,870. These costs factor in tuition, housing, food, university fees, and supplies such as textbooks, manuals, and uniforms. Two year public universities, such as a community college, factor in tuition and fees, and have an average yearly cost of $3,730.
The average in-state student attending a public college spends $26,027 per academic year; the average annual cost at a private university is more than double that figure, a staggering $55,840.
In 2017, a federal endowment tax was enacted in the Tax Cuts and Jobs Act of 2017 in the form of an excise tax of 1.4% on institutions that have at least 500 tuition-paying students and net assets of at least $500,000 per student. The $500,000 is not adjusted for inflation, so the threshold is effectively lowered over time.
Harvard University, a well-known costly but wealthy institution that had previously cut tuition for students whose families earned less than $60,000 a year, proceeded to cut costs by nearly fifty percent for those students whose families earned between $120,000 and $180,000 a year. [21]
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