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

College tuition fees rose 2.7% in Kennebec County in the 2022-23 school year, according to the latest disclosure from the National Center for Education Statistics.

Data shows that students paid $27,878 on average to attend higher education courses at the time, $742 more than the previous school year.

Among the four institutions in the county, Colby College stood out with the highest tuition fees, reaching an average of $63,520. Thomas College followed with an average of $29,996 per year. The University of Maine at Augusta students were offered the lowest annual tuition fees at $8,839.

At the time, a total of $26.2 million in grants or scholarships were awarded to full-time undergraduates who started at the Kennebec County universities in the 2022-23 school year. Additionally, federal student loans reached $2.8 million.

Currently there are four higher education institutions in Kennebec County, including Thomas College, University of Maine at Augusta, and Capilo School of Hair Design.

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.