The critical difference between price and cost is a central concept in understanding the financing of a college education.
Price is the full amount charged by a college for tuition, fees and room and board.
Cost is the amount a family must actually pay out of its own resources toward educational expenses. The following chart illustrates the actual cost to a family for Saint Mary's and a public university. Room charges vary according to living arrangements. All fees are subject to change and families should anticipate annual increases.