How much is the average American spending on higher education? More than you might expect. This infographic goes beyond tuition and offers a comprehensive breakdown of the real costs of college, as well as what goes into financing a degree, including the realities of student loan debt. What is the true cost of college?

Did you know?

• The total annual expense of attending an in-state public four-year institution averages $22,261 (only $8,655 of which is tuition and fees, the rest is room and board, books and supplies, transportation and other expenses)
• Attending an out-of-state four-year public institution averages $35,312 and a private non-profit college or university averages $43,289 each year
•  $237 billion in financial aid was given during the 2012-13 school year; the average student received $13,218 in financial aid
• 67 percent of 2009 college graduates are in debt with student loans
• Total student loan debt exceeds $1 trillion and increases nearly $3K every second

These are just a few statistics that emphasize how important it is to understand all the expenses of college and identify potential funding opportunities while budgeting for higher education. The full infographic can be seen at VarsityTutors.com.