In North America, over 4,000 colleges admit 17 million of students every year. Around 2 million students live on campus. For a college, 60% of the annual budget come from tuition and fees.
When compared fee structures of different sectors, private schools charge $26, 273 per annum, public schooling costs $7,020. An under graduate receives grant of $10, 000.
However, $700-$1,100 is spent on books for every year. For living on campus, it costs $2,200-$5,500 per school year. Additional $1,200-$1,650 is spent on meal per semester.
10% of graduates have over $40,000 in debt. Only 40% of 2 million students will complete their graduations within four years. Another 45% of students fail to complete their graduations.