Economic issues fill the air. Many lament the costs of higher education. Anyone considering a Christian university education must consider the price tag.
Tuition for twelve hours at Ohio Valley University costs $6,769 per semester. That amounts to $13,538 per year.
Clearly many things cost more than a private university education. A few are about the same. These are some prices I found on the internet:
- Payments on a Tahoe LTZ Sport Utility SUV run $15,948 per year according to one new car calculator
- A typical in ground pool for the back yard runs about the same price
- The average tuition at a secular private high school is $20,100 per year while the high end of preschool fees end up at $13,158
- The real costs of cigarette smoking if you include laundry and dental costs can be over $15,000 per year
- It costs the government $45,000 to keep a prisoner in jail
- A year’s worth of AIDS drugs ranges from $13,000-15,000 per annum
- Rent on a three bedroom house averages $13,200
- Health insurance costs for a family stand around $13,375
- The cost of having a child ranges from $9-17,000 without the fees for the child’s stay in the hospital
Calculating the costs of living can be a revealing experience. Whether we are planning a trip to Disneyworld or the purchase of a new washer and dryer, or whether to consider a private or public college experience, costs must be considered
Keep these thoughts in mind.
- Private schools such as OVU typically discount the costs more than public universities. For example with scholarships and awards a student might not pay $13,538 per year, but $8,538 per year. That’s not a promise, just the situation of some of the students who attend our university. With government grants and other outside scholarship, the figure could be lower.
- Think of a college education as an investment. According to the US government a person with a college degree can expect to earn 57% more over a lifetime than a person with just a high school diploma. Putting $3,000 into an IRA each year may seem too much out of the budget, but the nest egg at retirement makes it a valuable investment.
- Compare a college education to what you spend in other areas. The average American pays $1,275 per month for a house payment ($15,300 per year). However, most make that payment for thirty years while the college investment is generally for four years.
- The cost of sending a child to public school in first grade or twelfth grade ranges from $12,000 per year in Phoenix to $27,000 in New York City. We pay for those costs through our taxes. In some ways it creates in us an expectation of entitlement. Since we did not pay directly for educational costs for twelve years, we often bulk when college comes. In effect, we pay about the same amount to send our child to a private Christian university that we did to send them to fourth grade. Ironically, the United States is one of the few countries in the world where college costs are not paid for by taxes like we do for K-12.
Christian education comes with a cost. Keeping those expenses in context may help us to more effectively navigate these waters.