Tuition fees at American colleges and universities are among the highest in the world, according to a report released Tuesday by the Organisation for Economic Co-operation and Development.
Of the 35 member countries in the OECD average, the US has the highest average tuition at both public and private colleges.
Average public tuition in the US is $8,202 annually, compared to Chile's $7,654, the country with the second-highest tuition cost.
Mike Nudelman/Business Insider
About one-third of countries do not charge tuition for public institutions, and in 10 countries, tuition fees are less than $4,000, according to the report.
At private colleges, the gap between US and other OECD tuition fees was even starker. America's average of $21,189 was much higher than the rest.
Mike Nudelman/Business Insider
For the comparison, Business Insider included countries which have both private and public colleges. The UK, for example, only has private colleges and was excluded from the chart analysis, but the OECD estimates that tuition in the UK is $12,000 annually.
Most members of the OECD are highly developed countries with high income levels. But it doesn't include every country in the world that has both these qualities, since another charge of the group is to promote democratic ideals. As such, countries like China or Singapore are not members of the OECD. But even these highly developed countries don't have average college tuition costs as high as those that exist in the United States.
Despite the fact Americans face higher tuition costs than the rest of the world, the US does have options in place to make financing an