Cost Is a Key Factor in College Selection
August 4, 2025
With college tuition rising every year, it’s not surprising that cost is one of the most important factors for families when choosing a college. Cost, location, financial aid package, and the availability of a specific academic program topped the list when families were asked why students chose the college they did for the 2023–2024 year. Still, 86% of families believe a college degree will create opportunities that wouldn’t be available otherwise, and 79% are willing to stretch themselves financially in order to obtain these opportunities.
Reasons for selecting a college
(multiple answers allowed)
37% Cost/affordability of school
37% Close to home
36% Financial aid received
36% Specific academic program
35% In-state
23% Friends went there
19% Availability of online/hybrid classes
18% Social life
15% Small school
15% Large school
Source: How America Pays for College 2024, Sallie Mae
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