Texas Loophole Lets Out-of-State Students Pay In-State Tuition

We all know the price of college is getting completely out of control, and Texas college prices are also daunting when you look at them at first glance. If you're in the position I'm in, with a kid entering high school, you're already thinking of it.

How in the world are ANY of us going to afford this? He's got to get a scholarship, and he has to stay in state. However, the school he wants to attend? Super expensive, and out of state.

Get our free mobile app

The Average Cost Of College

The overall cost of college has more than doubled this century, and the average cost of attending is $38,270 per year. That includes books, supplies, and daily living expenses.

When you factor in housing, and everything else involved in school, and the cost of getting loans to cover it, it could run over $500,000 just to earn a bachelors degree when you start to factor in things such as interest on the loan, etc.

How Much Does It Cost To Go To School In Texas

In Texas, the average cost of going to school is $24,775 per year, infinitely lower than it is on average for the country.

When it comes to out-of-state tuition compared to in-state tuition costs, there is a significant difference. In fact, it's over $10,000 cheaper for in-state students.

How Are People Circumventing It To Gain In-State Tuition

Well, it's not something everyone can afford, but wealthier families have found a way to get their children that in-state price...they're just buying a condo in the state and making it their students' permanent address.

They are circumventing a Texas law that allows out-of-state students to purchase a home and immediately gain in-state tuition prices. Many of the wealthy families have begun to take advantage of this.

Read More: Texas Is Set To Pass A Bill Handing Out Free Money For College

Are The Students Keeping The Home After School

A few do, yes. However, the family ends up putting it up on the market once their child has completed their education, sometimes even turning a profit on the residence, and selling it rather quickly to someone else ready to do the same thing.

Once you account for the profit turned on the residence and the ability to gain the in-state tuition, the cost of college is nothing but a blip on the radar.