A college degree is expensive.
It costs an average of $27,000, or $2,400 more than a four-year public university.
A bachelor’s degree costs an additional $1,300 or $5,100, according to the U.S. Census Bureau.
And a master’s degree at a four years college costs $3,100 or $9,000 more than an associate’s degree.
But that doesn’t account for inflation, according a 2014 report from the U-M Department of Economics and Business.
“There are no real apples to apples comparisons to compare,” said David W. Tewksbury, associate professor of economics and business at U-Mar. “I think that’s why it’s so expensive.
When I was in college, I got a lot of money.”
The U-Mart study found that the average price for a bachelor’s and master’s was $27.7 and $31.2, respectively.
For the first time, the study said, the average cost of a bachelor degree was $26,400, compared with $28,200 for a four year public university degree.
A degree at the University of Maryland costs about $34,000 for the first year, according the U, a four and a half-year college that has more than 3,000 students.
The average price of a four or five-year bachelor’s is $40,000.
The study found $36,000 was the average total cost for a college degree at both the U and Maryland.
The most expensive college degree, the U of M’s, is a master of arts degree, with an average price tag of $62,000 and an average starting salary of $59,500.
The lowest price was a bachelor of business administration degree, at $42,500 for a two-year program.
“When I started, I didn’t realize the cost of college was so much higher than the cost to go to a four.
And now, I do realize the costs of college,” said Emily Novelly, an associate professor in the School of Business.
Tipping the scales In 2016, the cost for one year at the U was $2.8 million, according it’s U. of M Department of Finance.
That same year, the median household income at the school was $45,800.
About 70 percent of the students were from the state of Maryland, according U of Md.
In 2016 and 2017, the state’s economy expanded by about 2 percent, according figures from the Maryland Department of Labor and Industries.
In 2018, Maryland’s economy shrank by 4 percent.
The state lost nearly a quarter of its population.
In 2019, the number of people living below the poverty line increased by 11 percent, the department reported.
In 2020, the unemployment rate was 4.7 percent.
“It’s really, really tough to find a job when you are in a state of economic crisis,” said Jennifer L. Johnson, director of the U’s Department of Economic Development.
“We have to try to stay afloat financially in a way that keeps people in our state,” she said.
The U also reported that Maryland had the highest percentage of students who earned degrees in STEM fields, including computer science, engineering, math, economics and social sciences.
The University of Baltimore also reported higher levels of diversity.
The College of Engineering reported that in 2017, 29 percent of its students were women.
The school also reported the highest number of female students, with 42 percent.
A college education can have many benefits, including job security, higher wages, better health and less mental health problems, according Dr. T.L. McElwee, director for economic and social development for the College of Arts and Sciences.
“The ability to have a degree in a field that can prepare you for a career that might be in your field of choice is very attractive,” he said.
In the fall, the college announced it would pay its full tuition, fees and room and board for students who completed at least four credits in the STEM subjects in a six-month academic year.
“You’re not going to find the best people in the world in STEM,” said McElwe.
“What’s interesting about the college is it has been so successful at getting the STEM students who are coming into the college, they have a good balance between the STEM and business,” said Tewssbury.
But the school has had to grapple with its cost of attendance.
It has had an enrollment increase of about 400 students in the past year, to about 2,400.
“That has been a challenge,” said Johnson.
The cost of tuition has risen to about $1.2 million per year, from $1 million in the fall of 2015, the year the college opened.
That increased the total cost of attending by about $6,200, according University of Michigan estimates.
The college also recently launched a new online course called The College’s Business