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Madison Reporter

Saturday, November 23, 2024

Average cost of college went up for students in Dane County in 2022-23 school year

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Dr. Jack E. Daniels III, President | Madison Area Technical College

Dr. Jack E. Daniels III, President | Madison Area Technical College

College tuition fees rose 1.5% in Dane County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $20,261 on average to attend higher education courses at the time, $299 more than the previous school year.

Among the eight institutions in the county, Edgewood College stood out with the highest tuition fees, reaching an average of $33,550. The University of Wisconsin-Madison followed with an average of $25,748 per year. Madison Area Technical College students were offered the lowest annual tuition fees at $4,674.

At the time, a total of $55 million in grants or scholarships were awarded to full-time undergraduates who started at the Dane County universities in the 2022-23 school year. Additionally, federal student loans reached $23.2 million.

Currently there are eight higher education institutions in Dane County, including Paul Mitchell the School-Madison, East-West Healing Arts Institute, and Herzing University-Madison.

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 Dane 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
Edgewood College236$5,157,106$21,852170$1,432,319$8,425
University of Wisconsin-Madison4,193$47,589,196$11,3502,199$19,925,011$9,061
Aveda Institute-Madison15$107,296$7,15329$244,046$8,415
East-West Healing Arts Institute13$60,532$4,65620$135,929$6,796
Paul Mitchell the School-Madison7$30,902$4,4157$50,300$7,186
Madison Area Technical College287$1,559,505$5,434148$910,259$6,150
Herzing University-Madison74$457,154$6,17856$441,644$7,887
Academy of Beauty Professionals9$41,220$4,58010$57,995$5,800

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