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College can be costly, but one way to minimize expenses is by attending a community college. Tuition is generally more affordable compared to state or private institutions, and you can complete a couple of years before transferring. Your savings, however, depend on your state. Student Loan Hero outlines the savings by state.
To determine these figures, Student Loan Hero calculated the cost of college credits at schools across the nation, comparing the cost of earning the first 60 credits of a 120-credit degree at a two-year public college versus a four-year institution. On average, they found that community college credits are 60% more affordable than at a four-year public college. Their findings include:
Therefore, a student who completes the first 60 credits at a two-year public college before transferring to an in-state four-year institution would save an average of $11,377 on their degree. If they finance those credits with
student loans
, the savings are even more significant (an extra $3,573) due to the interest that accrues.
While savings can vary by state, here are the states where students save the most, along with the average savings:
1. New Jersey: $20,993 in savings
2. Illinois: $20,707 saved
3. Pennsylvania: $18,653 in savings
4. California: $18,403 saved
5. Virginia: $17,706 in savings
6. Arizona: $16,698 saved
7. Michigan: $16,231 in savings
8. South Carolina: $16,153 saved
9. Vermont: $15,866 in savings
10. Delaware: $15,773 saved
Check out the interactive map below to explore how the savings compare in your state, then visit Student Loan Hero’s full article below for more insights on the study.
