Understanding the Economics of College Education

What is the average cost of attendance for a public 4-year college in the United States?

• $40,000 per year

• $30,000 per year

• $20,000 per year

• $10,000 per year

What is the term used to describe the listed cost of college?

• Net price

• Sticker price

• Final price

• Discounted price

How much more does the average 4-year bachelor’s degree holder earn over their lifetime compared to someone with only a high school diploma?

• $500,000

• $1 million

• $1.5 million

• $2 million

Which type of aid does not need to be paid back?

• Grants

• Work-study

• Scholarships

• Loans

What is a major factor that affects the financial benefit of attending college?

• Choice of high school

• Choice of city

• Choice of extracurricular activities

• Choice of college

Which university is mentioned as offering substantial financial aid?

• Princeton University

• Yale University

• Stanford University

• Harvard University

What is the expected family contribution for students at Stanford University whose families make less than $60,000 per year?

• $15,000

• $5,000

• $0

• $10,000

What is the average total federal loan debt for Stanford graduates?

• $25,000

• $15,000

• $10,000

• $20,000

Which major is mentioned as having a higher earning potential?

• Art

• Engineering

• Literature

• History

What is a significant risk for students who start college but do not finish?

• Greater likelihood of defaulting on debt

• Lower unemployment

• Increased job opportunities

• Higher earnings