The average annual cost of attending a four-year college in Maryland is more than $40,000, according to a new report from personal-finance website WalletHub examining where higher education costs the most and least across the United States.
WalletHub found that the average yearly cost of a college education in Maryland is $40,062.57, equivalent to approximately 38.64% of the state’s median household income. The calculation includes in-state undergraduate tuition and fees, books and supplies, on-campus room and board, and other on-campus expenses.
The report comes as the cost of attending a four-year college has increased by approximately 26% over the past 20 years, according to WalletHub. To determine where college education is most and least expensive, WalletHub analyzed higher education costs in 48 states and compared those expenses with each state’s median household income. Alaska and Wyoming were excluded due to data limitations.
The findings highlight the financial commitment associated with pursuing a four-year degree, with Maryland’s average annual expenses totaling approximately $160,250 over four years before accounting for financial aid, scholarships, or future cost increases.
For the full report, please visit:
https://wallethub.com/edu/states-where-college-education-costs-the-most-least/145825
