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Friday, November 15, 2024

Average cost of college went down for students in Cumberland County in 2022-23 school year

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Samantha McKenzie Holmes Vice Chancellor and Chief of Staff | Official Website

Samantha McKenzie Holmes Vice Chancellor and Chief of Staff | Official Website

College tuition fees fell 9.3% in Cumberland County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $6,405 on average to attend higher education courses at the time, less than the $655 charged for the previous school year.

Among the seven institutions in the county, Methodist University stood out with the highest tuition fees, reaching an average of $38,138. Paul Mitchell the School-Fayetteville followed with an average of $16,575 per year. Fayetteville Technical Community College students were offered the lowest annual tuition fees at $2,871.

At the time, a total of $18.1 million in grants or scholarships were awarded to full-time undergraduates who started at the Cumberland County universities in the 2022-23 school year. Additionally, federal student loans reached $6 million.

Currently there are seven higher education institutions in Cumberland County, including Paul Mitchell the School-Fayetteville, Miller-Motte College-Fayetteville, and Methodist University.

Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.

According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.

Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.

Available data sometimes exceeds 100% due to rounding and administrative calculations.

Total Student Aid in Cumberland County Universities in 2022-23 School Year

InstitutionNumber of Students Receiving GrantsTotal Amount of Grants ReceivedAverage Amount of Grant Per StudentNumber of Students Receiving LoansTotal Amount of Loans ReceivedAverage Amount of Loans Per Student
Carolina College of Biblical Studies0$0$00$0$0
Fayetteville Technical Community College436$2,766,240$6,345144$830,900$5,770
Miller-Motte College-Fayetteville52$211,961$4,07651$260,113$5,100
Methodist University322$8,948,996$27,792238$2,049,886$8,613
Paul Mitchell the School-Fayetteville39$219,942$5,64040$337,999$8,450
Fayetteville State University698$5,995,230$8,589458$2,523,145$5,509
Manna University0$0$00$0$0

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