You already know the countries with highest costs in university education. The U.S. has some of the most expensive programs compared to some European, Asian, and Australian universities that offer their students free education.
Education, however, typically calls for significant financial investment throughout the world. Continue reading to find out more about the world’s ten most expensive universities.
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Table of Contents
1. Harvey Mudd College
This is number 1 in the ranking of the world’s top 10 most expensive universities. This is the world’s most costly university and made its way to the top of the list. Harvey Mudd College was established as a private college in 1955. The college concentrates on technology, engineering, and mathematics as well as humanities, art, and social science.
The college is the fifteenth-best college of liberal arts in the United States, according to U.S. News & World Report. Harvey Mudd University is the top leading science and engineering institution, also in mathematics.
Location: California, United States.
Total fee: $70,853.
2. Johns Hopkins University
This is the world’s second most expensive university on our list. The Johns Hopkins University, in Baltimore, Maryland, is a private academic institution. Founded in 1876, the institution was named after its first benefactor, the American merchant, abolitionist, and philanthropist Johns Hopkins.
Location: Baltimore, Maryland, United States
Total fee: $68,852
3. Parsons School of Design
This is the 3rd most expensive university in the world. This is Private Art and Design College, New York City, Lower Manhattan, Greenwich Village. Parsons School of Design is regarded as a local college for arts and design. It is one of the New School’s five colleges.
Location: Manhattan, New York City, U.S.
Total tuition fee: $67,266
Also, read Cheapest Top Universities in the US for International Students
4. Dartmouth College
This is the world’s fourth most costly university and is on our list. Dartmouth College was founded in 1769 by Eleazar Wheelock and is the ninth-ancient higher education institution in the U.S. and one of the nine colleges that had been chartered before the American Revolution. The Ivy League, the U.S.A Research University in Hanover, New Hampshire is a private institution.
Location: Hanover, NH 03755, United States.
Total tuition fee: $67,044
5. Columbia University
This, and our ranking, is the world’s fifth most expensive university. This is America’s most ancient college. It is located at the morning-side Heights occupying 32 acres of land and was established in 1754 when the King’s College by King George II of Great Britain was proclaimed a royal charter. The university holds the title of the first higher education institution in the United States to grant master’s degrees.
Columbia University has other campus sites in many major cities such as Amman, Beijing, Istanbul, Paris, Mumbai, and Rio de Janeiro. The university produces renowned graduates in many fields, including Five Founding Fathers of the United States, and Good Supreme Court Judges, of the United States.
Location: 116th St & Broadway, New York, NY 10027, USA
Total fees: $66,383
6. New York University
New York University is the sixth most expensive university in the world and on our list too. It is the most prominent university in the United States Schools and Colleges; this is the best higher education institution for all students across the world, who want to study at a level of higher education. This school was founded in the year 1831.
New York University, apart from its main campus in Greenwich in Lower Manhattan, has set other campus sites in Accra, Berlin, Buenos Aires, Florence, London, Madrid, Paris, Prague, Sydney, and Tel Aviv. It has the country’s largest student population.
The college had a population of 57,245 students as of 2015. This higher institution has produced several prominent alums in various fields such as former NASA Johnson Space Center chief engineer, Jay Shanley.
Location: New York, NY 10003, USA
Total fees: $65,850
7. Sarah Lawrence College
This is the 7th most expensive university in the world. It was set up in 1926. The college has also given women professionals in arts and humanities quality education. William Duzer Lawrence found this college. Who was a Mogul in real estate? He opened a learning institution (school) in his private estate in Westchester and named it in honor of his wife, Sarah. Several women leaders, innovators, and professionals were developed in this college in different fields. Yoko Ono, Sigourney Weaver, Barbara Walters, Alice Walker, Amanda Burden and Sharon Hom are renowned for their great alma mater.
Location: 1 Mead Way, Bronxville, NY 10708, USA
Total fees: 65,630.
8. Wesleyan University
Wesleyan University, located in Middletown, Connecticut, is a private university. The now secular university was created in 1831 for only males. It was the first higher education institution to be named after John Wesley, the founder of Methodism under the auspices of the Methodist Episcopal Kirche and with the support of prominent Middletown residents.
After accepting women as candidates from 1872 to 1909 in 1970, the college became fully co-educational; the reversal of the college in accepting women led to the foundation of Connecticut College in 1912. Wesleyan is one of the Liberal Arts Colleges “the little three,” competing as a member of the NESCAC and with Amherst and Williams Colleges.
Location: 45 Wyllys Ave, Middletown, CT 06459, US
Total fee: $65,443
9. The University of Chicago
This is the 9th university in the world that’s on the list for the most expensive. The University of Chicago was honored in 1890 as the best university in the USA for higher education. Students apply from various societies due to the best institutions in the world (University of Chicago).
Today this university has a population of 15,312 and is the largest university in the world by size. In the fields of education, trade, policy, science, research, and entertainment, the university offers its best students. Microsoft CEO, Satya Nadella, founder of Oracle, Larry Ellison, and NBA commissioner Adam Silver are famous students that attended this university.
Location: 5801 S Ellis Ave, Chicago, IL 60637, USA
Total fees: $64,965.
10. Claremont McKenna University
This is the 10th most expensive university in the world. Western America’s best top colleges; these universities have the title of the nation’s eighteen places for best university. The Princeton Review is the country’s second-most happy college. Peter Thum, the co-founder of Ethos Water and Starbucks Vice President, Congressman David Dreier, and the late award-winning comedian Robin Williams are among its old popular students.
Location: California, USA
Total fees: $64,325.
Also, read 10 Most Affordable Countries to Study Abroad
Reason Why These Universities Are Expensive
1. They hire the best of the best of lecturers and professors
Just like learning costs money, paying teachers cost money too. Higher education is a work-intensive industry, with slow gains in productivity. Colleges spend a great deal of money on staffing and compensation. The costs of health insurance and other benefits are increasing.
Furthermore, around 1970 a typical university would have directly allocated 40 percent to education, most of it being teacher salaries. Universities can provide less pay and benefits with more part-time faculty members, save on non-educational full-time roles, and a smaller number of tenured faculties, who can try to attract them with higher salaries.
2. These Universities seem to be the choice of every student
Since 1985 there has been increased demand for higher education. When demand increases, the price goes up. From 1985 to slightly after 2000, the university rewards have expanded and somewhat increased during the past decade.
Furthermore, the rise in the number of students shows that the advantages of the university outweigh its enormous costs. There’s a fear of failure. Additionally, if you have no higher education; according to a report by the American Academy of Arts and Sciences, the percentage of students who received student loans jumped to 60% between 2000 and 2012. The report also found that they began borrowing more money from a median cumulative loan.
3. Financial aid causes tuition increase
More student loans may explain partly why government funding assistance programs have grown tremendously, but it also contributes to increases in tuition. There were almost no financial assistance services in the 70s. Middle-income citizens usually didn’t receive government funds.
Furthermore, the Middle Income Student Assistance Act was enacted in Congress in 1978. According to NASPA, Student Affairs Administrators in Higher Education, all undergraduates, irrespective of their income level, were eligible for scholarship funds and intermediate students were available for a Pell Grant.
More and more students decided to register for financial assistance. The university increases fees and takes advantage of this to handle it independently, realizing that students will get this money for financial assistance. While tuition rose in 1978, the income of people grew, reducing the burden of college in the 1940s. But from 1978 to 2015, the college burden began again to increase with tuition duplications and declining economic growth.
4. State funding cuts
Public universities around the world depend on funding from their national governments. Over the last ten years, however, state investment has plummeted by more than 38 billion dollars, pushing public tertiary institutions to boost their tuition continually over their efforts to compensate for the cut down in funding.
As a result, students are fined. This decline in State funding possibly stems directly from a recession, as budgets have been redeployed and adjusted to meet other needs. This cut down from the States does not directly impact tuition rates, the school itself, or students. Consequently, non-profit universities do not rely on state support for their continuing operation. Non-profit universities have been designed to provide self-sufficiency intuition – so it has been optimized for performance. This is one of the reasons why non-profit universities are one of the cheapest choices for higher education.
Also, read 10 Universities Where the Super Rich Go
Conclusion
Conclusively, it is important to recall that higher education costs do not mean a better college degree automatically. Typically, when making hiring decisions, employers consider the name of your alma mater, but your zeal and eagerness to learn will set you apart from the other candidates. Remember, don’t be discouraged by the cost of a university; this is because your credentials and GPA are just your first step in the door.
This issue is quite obvious even in Ghana the nation where I live,The rising cost of tuition means now only Children from Certain Wealthy families can afford to enter such Entities.
Tuition should be frozen at a Certain Level otherwise we shall be increasing the Gap between the Haves and the have nots.
Education is supposed to be an equalizer.It doesn’t seem to be so in th year 2021.
African Famillies do struggle to finance higher education,Western Schools more and more out of reach and out of touch even Wealthy African Cities within our Juridisction.