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Student College University Education Loans

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All this talk about debt relief and Joe Biden’s plan to alleviate the United States‘ obvious student loan crisis had us thinking about college in other countries. As you might have suspected, it is far less expensive nearly everywhere else. Find out where you could attend college for the low inside.

According to the latest statistics released by the Organization for Economic Cooperation and Development (OECD), the US spends more per student on colleges and universities than every other country in the developed world.

The report states that American universities spend $30,165 per full-time equivalent student, nearly twice the rich-world average of $15,556. Only one small European country spends more amongst the developed nations and that is the Grand Duchy of Luxembourg.

Countries like Norway are setting the standard for education, where most students attend tuition-free at public universities. The spending per student is roughly half of that in the US.

Some policy makers equate education costs and government assistance to universities level of spending. So, when universities spend less, the government can cover their costs more efficiently.

The cost of college in the US has been increasing faster than inflation. People across the nation are witnessing the increase of inflation by the day. When purchasing common foods like eggs and milk costs you $3 more, it’s difficult to ignore. It’s the same story with gas and housing costs. However, the rate of inflation is said to be at a 2% increase.

The real issue is that the cost of college has increased about 8% per year, doubling the cost every nine years.

Cost To Attend College in the US (according to College Board)

  • Community college average cost (tuition & fees): $3,770
  • Public 4-year college average cost (in-state, tuition & fees): $10,560
  • Private, nonprofit 4-year college average cost (tuition & fees): $37,650

Cost To Attend College in Other Countries

European Union

Norway is one of the few that offers tuition free of charge, whether students are from the European Union or elsewhere. Germany joins Norway, offering free tuition for all students, regardless of their country of origin.

Other European countries have free tuition for those from Europe, but not for those from outside the EU. Sweden, Finland, Denmark and Greece are a few of the countries included in that list.

Though Sweden is free for European students, it is quite expensive for those from outside the EU, with a price tag as high as $35,000 per year for tuition and fees. Even on the low end, tuition is over $9,000. Finland is much cheaper for those from outside the EU, starting at around $1,700.

In France and Austria, tuition is not free but is low-cost.

Mexico and South America

In Mexico and South America, tuition can be very affordable or even free. In Brazil, there is usually a cost, but the price is not incredibly high. Tuition is as low as $378 per year in Mexico, and in Brazil, tuition is free at public universities.

In Uraguay and Argentina, tuition is free, but only for those who are from those countries.

UK and Australia

If you are from the U.S. and looking for an affordable undergraduate program, the United Kingdom and Australia will probably not be the answer. Both have college costs that can be even higher than the cost of college in the U.S., depending on the school and program.

In the U.K., the cost of an undergraduate degree is $17,000 to $25,000 per year, and in Australia, the cost is $15,000 to $33,000 per year. In the U.K., scholarships are available that can cover a small part of the cost — between $2,500 and $10,500. The Australian government also offers several scholarships that can offset some of the costs.

If you are looking into colleges, be sure to weigh your options. The US doesn’t seem to have a plan to lessen the load on its future professionals, so take matters into your own hands. There are several ways to become the scholar you have always dreamed of becoming.

Joe Biden Not Getting That Money: How US College Costs Compare To Other Countries  was originally published on globalgrind.com