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Thursday, November 21, 2024

Average cost of college went up for students in Knox County in 2022-23 school year

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Dr. Miguel Cardona, Secretary of Education | https://www2.ed.gov/news/staff/bios/cardona.html#:~:text=Miguel%20A.,in%20the%20mainland%20United%20States.

Dr. Miguel Cardona, Secretary of Education | https://www2.ed.gov/news/staff/bios/cardona.html#:~:text=Miguel%20A.,in%20the%20mainland%20United%20States.

College tuition fees rose 0.1% in Knox County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $17,204 on average to attend higher education courses at the time, $10 more than the previous school year.

Among the eight institutions in the county, The University of Tennessee-Knoxville stood out with the highest tuition fees, reaching an average of $21,617. Johnson University followed with an average of $19,274 per year. Pellissippi State Community College students were offered the lowest annual tuition fees at $4,585.

At the time, a total of $86.8 million in grants or scholarships were awarded to full-time undergraduates who started at the Knox County universities in the 2022-23 school year. Additionally, federal student loans reached $26.1 million.

Currently there are eight higher education institutions in Knox County, including The University of Tennessee-Knoxville, Johnson University, and Paul Mitchell the School-Knoxville.

Undergraduate education costs have seen a significant increase over the past few decades. Data shows a 169% rise in the average total cost, including tuition, fees, room, and board, between 1980 and 2020.

According to a 2023 College Board report, in-state students at public universities paid an average of $11,260, while out-of-state students paid $29,150 in the 2023-24 academic year.

Meanwhile, student loan debt has steadily increased over the last 30 years, reaching $1.75 trillion in 2024, averaging a total of $28,950 per borrower. Federal loans make up 92% of the debt, with over half of students at both public and private four-year colleges graduating with student loans.

Available data sometimes exceeds 100% due to rounding and administrative calculations.

Total Student Aid in Knox County Universities in 2022-23 School Year

InstitutionNumber of Students Receiving GrantsTotal Amount of Grants ReceivedAverage Amount of Grant Per StudentNumber of Students Receiving LoansTotal Amount of Loans ReceivedAverage Amount of Loans Per Student
The University of Tennessee-Knoxville5,777$66,381,343$11,4912,153$21,818,536$10,134
Johnson University145$1,420,575$9,79783$640,286$7,714
Pellissippi State Community College1,780$10,832,516$6,08651$238,723$4,681
Tennessee School of Beauty of Knoxville Inc101$638,592$6,323121$756,818$6,255
Ross Medical Education Center-Knoxville50$280,290$5,60654$556,710$10,309
South College425$5,821,862$13,698212$1,787,406$8,431
Paul Mitchell the School-Knoxville26$169,025$6,50132$271,593$8,487
Tennessee College of Applied Technology-Knoxville328$1,227,617$3,7430$0$0

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