Data shows that students paid $15,484 on average to attend higher education courses at the time, $593 more than the previous school year.
Among the two institutions in the county, Missouri University of Science and Technology stood out with the highest tuition fees, reaching an average of $15,505. Salem College of Hairstyling followed with an average of $12,100 per year.
At the time, a total of $15.5 million in grants or scholarships were awarded to full-time undergraduates who started at the Phelps County universities in the 2022-23 school year. Additionally, federal student loans reached $4.5 million.
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.
| Institution | Number of Students Receiving Grants | Total Amount of Grants Received | Average Amount of Grant Per Student | Number of Students Receiving Loans | Total Amount of Loans Received | Average Amount of Loans Per Student |
|---|---|---|---|---|---|---|
| Salem College of Hairstyling | 10 | $61,043 | $6,104 | 0 | $0 | $0 |
| Missouri University of Science and Technology | 1,106 | $15,430,981 | $13,952 | 523 | $4,545,858 | $8,692 |
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