In the last 10 years, the cost of college tuition in the United States has increased by an astonishing 63% and the current student loan debt crisis has reached an unthinkable $1.3 trillion mark.
Are Americans better off going to college abroad?
The team at StudentLoanReport.org conducted a study to analyze the cost of college around the world and created the following infographic below.
The study found that more students are going abroad to attend great universities that will leave them with much lower tuition costs and in many cases earning more money.
Current data shows:
- Some U.S. students carry up to $200,000 in debt, the average debt in Canada is $20,000 and in Germany it is just $2,400.
- Average annual tuition in the U.S. is $8,700 and average per capita income is $56,180, while in Norway, tuition is free and annual per capita income is $82,330.
Education is the great equalizer but students and parents must consider all options to get a degree without getting into insurmountable amounts of debt.
Especially in an economy that is becoming increasingly global, we thought your readers might find this infographic to be a valuable tool as it also contains tips for students who do plan to study abroad.
Don’t miss the deep dive into student loans here.