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The 15 Most Expensive Colleges and Universities in the U.S.

Higher education can come with a hefty, hefty price tag.

By Sam Hindman

She’s gonna need a bigger jar.
She’s gonna need a bigger jar. / JGI/Jamie Grill/Tetra Images/Getty Images
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What is a degree worth to you? For some, that answer would be “quite a lot.” An average person who takes out federal loans winds up saddled with $37,338 of debt; private loans have a higher average debt of $54,921 per borrower. 

It’s no wonder some young adults wind up so deeply in the red. Higher education can come with a hefty, hefty price tag. Below are the 15 most expensive colleges and universities in the United States, sorted by the cost of tuition for the 2023–2024 academic year—meaning other fees, like room and board, aren’t even included. Keep track of how many names you recognize; perhaps surprisingly, there are only two members of the Ivy League.

Ranking

College or University

Cost of Tuition

1

Kenyon College

$71,196

2

Franklin & Marshall College

$70,566

3

Colorado College

$70,224

4

University of Southern California - Los Angeles

$69,904

5

Haverford College

$69,884

6

Amherst College

$69,820

7

Colby College

$69,600

8

Pepperdine University

$69,130

9

Reed College

$69,040

10

Tulane University

$68,678

11

Carleton College

$68,457

12

Columbia University

$68,400

13

Cornell University

$68,380

14

Harvey Mudd College

$68,262

15

Claremont McKenna College

$67,980

Why is college so expensive?

While there’s no one reason why some colleges and universities charge such high tuition, there are a few possible explanations.

Prestige goes a long way. These pricy schools have garnered impressive reputations over the years; this attracts applicants who are willing to shoulder the cost of attending for the sake of hanging a degree from them on their office walls. More expensive schools may also have better resources like top-quality staff, incredible facilities like state-of-the-art laboratories, and more appetizing dining hall meal choices.

Many of the expensive colleges and universities on the above list are also fairly small, but still have a large amount of faculty. Kenyon College—the most expensive school—has fewer than 2000 undergraduate students, and this personalized attention and higher staff-to-student ratio can come with a higher operating cost. It’s also important to note that private schools tend to cost more than public universities. And, as with everything else in life, inflation is driving up the price tag on higher education everywhere.

Increased tuition may contribute to the current trend of falling enrollment rates among young people. Compared to a decade earlier, enrollment was down 1.2 million in 2022. Gen Z may also be less willing to take out loans when fewer jobs on the market require degrees. In an era of digital commerce, remote work, and opportunities to make big bucks by going viral, some are questioning whether the cost of college is worth their time or their money. 

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