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For many, New York City is a huge tourist destination. Those interested in the arts or the financial industry may have their sights set on the Big Apple in hopes they land their dream job post-graduation. Unfortunately, for those who live there, there are two sides to New York City that the media portrays: the poor side and the exuberant and opulent side. These very different worlds showcase poverty and its mortal enemy, Wall Street.

Colleges in New York

Are colleges in New York affected by the big dollar sign? Much like any other state and their local universities, money makes their campus go round. Between 50% and 60% of students in New York City graduate with debt in between $20,000 and $35,000. In comparison to other universities in neighboring states, this is actually a decent rate.

It’s not impossible to swing through financial aid, but it may be the only option as the average community college price tag is a rarity in the concrete jungle. Some colleges in New York City are for-profit, which will make the price skyrocket even further. If you’re looking for something cheaper, expanding your horizons to the outskirts and even further upstate will provide you with better tuition rates.



Cheapest Education in New York

Unfortunately, those who haven’t visited New York or the Big Apple may not be aware that anything exists outside of the faux state capital. Outsiders think that the state revolves around the complex city, even though Albany is the capital! There are tons of credible colleges in New York and even some famous ones that have in-state tuition for less than $7,000.

Fashion Institute of Technology is one of the main fashion schools that fashionistas dream about. If you’re a New York resident, the in-state tuition is a mere $4,500. This is the same or less than community colleges around the country. One of the higher-rated general colleges with cheap in-state tuition includes CUNY Bernard M. Baruch College. Their rating is between 85 and 90 in the education and value scales.

You may notice that for both, the tuition quoted is for in-state students. Unfortunately, out-of-state students will be paying more, but why?



In-State Versus Out-of-State Tuition

The following information only applies to public educational facilities in New York, not private. Many private colleges are for-profit, which explains why their prices are higher in general. The main reason that each state university has cheaper tuition is because they are partially funded by the state government. For people coming from another state, they have to pay for the extra funds to enroll there as they are not covered by state funding.

To qualify for in-state tuition, you can’t just move to an apartment near your potential college and call it a day. Many states require a person to live in the state for a certain duration before being considered eligible for in-state tuition. This duration is typically between 6 months and 18 months. Private and for-profit institutions charge everyone the same exact tuition rate, so make sure that your college is public if you’re looking for a cheaper way to pay for college.

The average in-state tuition costs around $6,700 while out-of-state tuition typically costs more than twice that. For those who think, “I’ll just move live there first!”, you may be onto something. Sure, you’ll have to spend money living in New York before getting the big discount, but you’ll also be spending that money now and not acquiring any debt. The less you have to pay for school, the less financial aid debt you’ll have post-graduation. It may be worth the wait to attend your dream college.



Will It Be Cheaper to Wait?

Unfortunately, the cost of education climbs up every year and hasn’t stopped since the 80s. Putting off going to college in hopes that tuition will go “on sale” will only have you waiting longer. In the time that you wait, you could have attended and paid a cheaper rate. For-profit colleges don’t reject financial aid from the state, but you may not receive as much. If going to college in New York is something you truly dream of, there’s always a way that you can attend.