Knowing a college's cost of attendance (COA) is critical when comparing aid awards. As dictated by Congress, the COA is the average cost to attend a college for one academic year (fall through spring). Colleges publish their COAs on their website and use their COA in financial aid calculations. 

What's Included in the COA

A college's COA includes the average costs for tuition and fees, books and supplies, room and board, transportation, and personal expenses. Colleges adjust the COA yearly to reflect changes to these costs. 

How the COA Drives Your Financial Aid

Colleges subtract your Student Aid Index (SAI) from the their COA to calculate your need for financial aid. Your SAI is a number determined by the information you provide on your financial aid forms. 

Colleges create several official COAs that reflect differences in living costs (on-campus, off-campus, or at home) and in-state and out-of-state tuition. Your actual cost to attend might be more than the official COA depending on your major, participation in extracurricular activities, and travel expenses. 

Examples of Private and Public COA's

Here are some COAs that colleges reported for the 2024-2025 academic year, based on what they reported in their CollegeData college profile. These costs are for undergraduates living on campus and enrolled in liberal arts programs.

Private colleges:
Cornell University (Ithaca, NY) – $96,268
Duke University (Durham, NC) – $98,172
Grinnell College (Grinnell, IA) – $91,894
Rice University (Houston, TX) – $88,196
Stanford University (Palo Alto, CA) – $97,038
Swarthmore College (Swarthmore, PA) – $93,172

Public colleges (for state residents):
University of Alabama (Tuscaloosa) - $34,528
University of Arizona (Tucson) – $35,389
University of California (Berkeley) – $52,147
University of North Carolina (Chapel Hill) – $27,766
University of Massachusetts (Amherst) – $38,415
University of Texas (Austin) – $31,798

The COA isn't what most students actually pay for college

Your bottom line to attend any college is not the COA — it's the net price — the total out-of-pocket cost that you will actually pay. Net price includes the amount the college expects you and your family to contribute, any financial need that the college fails to meet, and any loans or work-study earnings you'll have to repay or work for. 

When you see a very high COA for a college, don't immediately rule out the college as unaffordable. Some of the most expensive colleges also offer generous financial aid, which may bring down your net price substantially.