Higher and higher: how much will it cost to study at US colleges in 20 years

Student loan debt is a long-standing and pressing problem for many Americans. Total student debt has already reached $1,5 trillion. Both debt and fears continue to grow.

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Student loan debt is now the second largest category of consumer debt, behind unpaid mortgages. Student debt dwarfs credit card debt, car loans and other types of loans. All this prompted US President Donald Trump to hire a consulting firm a few days ago to assess the current situation, writes Fox Business.

On the subject: 5 unpleasant things worth knowing about American colleges

Billionaire hedge fund manager Ken Griffin has blamed the cost of education on America's biggest problems. He said students are "completely disillusioned with their economic prospects, given the enormous amount of debt they are saddled with, coupled with the extremely high tuition costs they pay."

According to a new study, if in the next five years, tuition fees will grow at the same pace as now, college students and their parents may be faced with the fact that in 20 years of tuition in a private educational institution, 400 000 dollars will have to be paid.

On the subject: How to enter college in the USA without money

GoBankingRates analyzed college tuition data for all 50 states, based on an annual increase of 5,0 percent, to figure out what students should expect in the future.

Estimated costs for each state include the average cost of tuition in public colleges for students from the same state or visitors from other states, as well as the average tuition fee in private schools. Costs do not include living expenses, food and other needs.

On the subject: How does the average American family pay for college

Here's what happened.

Alabama

• Cost for state residents (state tuition): $ 76 840
• Cost for students from other states (state tuition): $ 147 924
• Cost of private tuition: $ 189 918

California

• Cost for residents: $ 35 270
• Cost for students from other states: $ 133 654
• Private tuition: $ 308 739

Colorado

• Cost for residents: $ 77 754
• Cost for students from other states: $ 194 001
• Private tuition: $ 234 267

Connecticut

• Cost for residents: $ 91 351
• Cost for students from other states: $ 231 488
• Private tuition: $ 404 276

Maine

• Cost for residents: $ 76 873
• Cost for students from other states: $ 154 273
• Private tuition: $ 354 379

Massachusetts

• Cost for residents: $ 95 491
• Cost for students from other states: $ 188 192
• Private tuition: $ 438 698

New Jersey

• Cost for residents: $ 96 280
• Cost for students from other states: $ 158 492
• Private tuition: $ 273 505

New York

• Cost for residents: $ 77 629
• Cost for students from other states: $ 154 284
• Private tuition: $ 285 261

Pennsylvania

• Cost for residents: $ 130 555
• Cost for students from other states: $ 214 861
• Private tuition: $ 327 105

Rhode Island

• Cost for residents: $ 105 327
• Cost for students from other states: $ 264 676
• Private tuition: $ 446 338

Washington

• Cost for residents: $ 61 126
• Cost for students from other states: $ 123 876
• Private tuition: $ 340 314

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