Maine Houses One of the Nation’s Highest-Priced Colleges

You don't have to tell me how expensive college is. Heck, I'm still paying off my loans, and I'm in my 40s.

College may be the best years of your life, but you're going to pay for it. Public or private, it doesn't matter. School is expensive. How expensive, you ask? I'm glad you did, because CBS News has compiled a list of the 50 most expensive universities in the nation, and one of them can be found right here in Maine.

CBS used 2022 data from the National Center for Education Statistics to determine the most expensive schools. The three major factors considered were out-of-state tuition, annual fees, and residential charges. You can read more about the methodology here.

Maine's lone representative on this list is not only considered one of the best schools in the state, but also in the country. It's one of the "Little Ivies," located right in the heart of Central Maine. That school is Colby College.

Located in Waterville, Colby College has been a prestigious institution for higher learning since before Maine became a state. Founded in 1813, Colby is the second-oldest university in Maine, just behind Bowdoin College (founded in 1794).

Colby's list of alumni includes Olympians, Pulitzer Prize winners, corporate CEOs, members of Congress, and governors, including Maine's current leader, Janet Mills.

Colby is also known for having quite a hefty price tag, so it's not shocking to see it on this list.

According to CBS News, Colby College's annual cost for an undergraduate is around $74,725. That'll wake you up.

Let me put that cost into context. According to ZipRecruiter, the average salary in Maine is just over $58,000. That's a difference of $16,000. No wonder so many people leave Maine after college.

Amazingly, Colby is only the 33rd most expensive on this list. How wild is that?

Now, I'm not trying to scare anyone away from college, especially Colby. We’re talking about one of the best universities in the country. All I'm saying is, start saving now. Your kids will certainly thank you.

If you were wondering, the most expensive school, according to CBS News, is Harvey Mudd College in Claremont, California. The annual fee is around $78,000.

Who says you can't put a price on education?