Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Wednesday, June 7, 2017
Hawaii: Most Expensive State to Put Your Kid Through College
By Selected News Articles @ 12:03 AM :: 4727 Views :: Hawaii Statistics, Higher Education, Cost of Living

DO YOU MAKE ENOUGH TO PUT YOUR KID THROUGH COLLEGE?

The price of college is high. Here's how much you need to make to afford college in your state.

by Cameron Huddleston, Go Banking Rates, June 6, 2017

Americans have been taking on more and more debt to keep up with the rising cost of college. According to the latest figures from the Federal Reserve Bank of New York, Americans owe $1.34 trillion in student loan debt. How much would you have to earn to avoid the college debt trap? Could you live comfortably while doing so?

To find out this magical number for all 50 states, GOBankingRates surveyed college costs and the amount needed to live comfortably. We used College Board data on the average price of in-state tuition and fees at public four-year institutions. Then, we calculated the cost of living in each state by identifying the dollar amounts required to cover the following necessities for a year: a mortgage, groceries, utilities (electricity), transportation and healthcare. We also calculated what residents would spend on splurges and savings using the 50-30-20 budgeting rule, in which 50 percent of income covers necessities, 30 percent covers discretionary items and 20 percent is for savings.

By combining all these figures, GOBankingRates identified the income needed to live comfortably in each state and send a child to college without taking out loans. Click through to find out how much you need to make each year in your state….

IN HAWAII, YOU’D NEED TO EARN: $126,454

  • Average college tuition and fees: $10,670
  • Annual necessities: $57,892
  • Annual splurges: $34,735
  • Annual savings: $23,157

Hawaii requires the highest annual income to pay for in-state college costs and live comfortably. At $10,670, the average in-state tuition and fees are by no means the highest in the nation. However, the cost of necessities is higher here than in any other state, which means residents need bigger paychecks to cover Hawaii’s cost of living and college costs. Considering that the median household income is $64,514, families in Hawaii might need to borrow money if they don’t have a college fund to help pay for tuition.

read … Put Kid Thru College?

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT