“Public or private?” is one of the first cost questions families ask. The averages give a clear starting answer — but the exceptions matter more than the rule.
The averages
Across the major colleges we track from the College Scorecard:
| Average net price/yr | Median earnings (10yr) | |
|---|---|---|
| Public universities | ~$17,250 | ~$65,900 |
| Private nonprofits | ~$29,990 | ~$90,300 |
Source: College Scorecard, snapshot June 2026.
So public schools cost roughly $13,000 less per year after aid, while private graduates earn roughly $24,000 more at the 10-year mark. Neither figure settles it on its own.
Three things that flip the math
- In-state vs out-of-state. Public schools are cheap for residents. Out-of-state public tuition averages about $20,000/yr higher than in-state — enough to wipe out the public advantage. An out-of-state public can cost more than an in-state public or an aid-rich private.
- Private need-based aid. Wealthy private universities discount heavily. Some — like Princeton — end up with a lower average net price than most publics, so don’t rule them out on sticker price.
- Major and selectivity. The private earnings premium partly reflects who they admit and what they teach (more STEM/business), not the private label itself.
How to decide for your situation
- If you qualify for in-state public tuition, the in-state flagship is usually the safest low-cost bet — check its state page here.
- Run the net price calculator at every private school you’re considering before assuming it’s unaffordable.
- Compare cost and outcomes with the best-ROI ranking, and estimate your total cost in our calculator.