Columbia tops list of most expensive schools

The Education Department has released its annual list of the country’s most expensive colleges, both private and public. For the 2011-12 academic year, Columbia University narrowly edged out Sarah Lawrence as the college with the highest tuition in the U.S., at $45,290 per year. This does not include room and board, books, or college fees, which push most of the most expensive colleges’ list prices far above $60,000.

Four-year colleges with highest tuition

1. Columbia University (N.Y.) $45,290
2. Sarah Lawrence College (N.Y.) $45,212
3. Vassar College (N.Y.) $44,705
4. George Washington University (District of Columbia) $44,148
5. Trinity College (Conn.) $44,070

Of course, most students don’t end up paying the full list price for college. That’s why it’s important to consider a college’s net price as well. Net price is the amount students actually pay after financial aid like grants, loans, and scholarships. Looks like students aren’t getting too much help at the School of the Art Institute of Chicago–it is ranked as the school with the most expensive net price, at $42,882 per year.

Four-year colleges with highest net prices

1. School of the Art Institute of Chicago $42,882
2. Ringling College of Art and Design (Fla.) $40,222
3. The Boston Conservatory $39,602
4. Berklee College of Music (Mass.) $38,814
5. California Institute of the Arts $38,802

Use a net price calculator to figure out the cost of your college

Make sure to check out the list to find out which schools to avoid if cost is a factor in your college decision. And don’t forget–because these numbers don’t include other college expenses like tuition, fees, books, and more, budgeting for extra costs is a must.

To figure out how much college will really cost you, you can use a net price calculator. All colleges and universities are required to have a net price calculator on their websites. You can use this information to your advantage in the college selection process to help get a better idea of what you’ll pay for college once all costs have been factored in and financial aid has been applied.