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Tuition madness: Are you saving enough for college education goals?

Mar 13, 2023 | RBC Wealth Management


With the annual college basketball tournaments underway, check out our college cost brackets to make sure you’re on track with your educational savings and retirement investment plans.

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2023 RBC Wealth Management Tuition Madness

With the March NCAA® basketball tournaments upon us, you may feel nostalgic about the colleges or universities you and your loved ones attended. Perhaps the college-basketball fever has sparked conversations about post-secondary educational aspirations between you and your younger loved ones. 

While enjoying the hoopla of the month as these stellar men’s and women’s teams vie for the national championship, take a moment to evaluate your college savings plans so you can help make the college education dreams a reality for your loved ones.


Download our 2023 Tuition madness brackets

The men’s and women’s NCAA® basketball championship tournaments are traditions filled with excitement and heartbreak as teams from throughout the nation battle on the courts. Thrilling buzzer-beating baskets and upset victories are tourney hallmarks.

These college tournaments pose a timely reminder about college savings plans. Often, parents and grandparents may experience sticker shock when sending their young scholars off to college. To alleviate the sticker shock and avoid college-student debt, gather information and plan ahead. To help you do so, take a look at the 2023 Tuition madness brackets, which show college cost information.

College costs, affordability and student debt are often topics of concern for individuals and families. The annual Trends in College Pricing report, published by the College Board, may provide you with helpful information about these costs.

For example, here are the average college costs for full-time undergraduates in 2022–2023, including tuition, fees, room and board for one academic year*:

  • Public four-year in-state: $27,940
  • Public four-year out-of-state: $45,240
  • Private nonprofit four-year: $57,570

*Prices shown are average published charges (enrollment-weighted) for full-time undergraduates, not adjusted for inflation. Source: Trends in College Pricing and Student Aid 2022, New York: College Board. © 2022 College Board.

Even though it may seem expensive, a college education is an investment that can enrich lives and boost lifetime earning potential—two excellent reasons to help make it a reality for people you care about. It’s never too early, or too late, to plan for educational goals.


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