With continued tuition increases this is what College is expected to cost in 20 years

While student loan debt has been a hot-button issue for many years, the concerns are only piling up ahead of the 2020 presidential race as new statistics reveal the debt has climbed to $1.5 trillion.

Student loan debt is now the second highest consumer debt category — behind home mortgage debt — surpassing both credit cards and auto loans, prompting President Trump’s administration earlier this week to hire a consulting firm to evaluate the issue.

And, according to a new study, if tuition continues to rise in the rate that it has over the last five years, college students and their parents could be facing private tuition fees as high as $400,000, about 20 years from now.

GoBankingRates analyzed college tuition data from all 50 states based on a 5.0 percent annual increase to figure out what the future could hold for students.

Estimated costs for each state include the average in-state and out-of-state tuition at public universities as well as average tuition fees at private universities. Costs, however, do not include room, board, and other living expenses.

Here’s a look at what some states could be facing in 20 years. 

Alabama

Public in-state tuition: $76,840

Public out-of-state tuition: $147,924

Private tuition: $189,918

California

Public in-state tuition: $35,270

Public out-of-state tuition: $133,654

Private tuition: $308,739

Colorado

Public in-state tuition: $77,754

Public out-of-state tuition: $194,001

Private tuition: $234,267

Connecticut

Public in-state tuition: $91,351

Public out-of-state tuition: $231,488

Private tuition: $404,276

Maine

Public in-state tuition: $76,873

Public out-of-state tuition: $154,273

Private tuition: $354,379

Massachusetts

Public in-state tuition: $95,491

Public out-of-state tuition: $188,192

Private tuition: $438,698

New Jersey

Public in-state tuition: $96,280

Public out-of-state tuition: $158,492

Private tuition: $273,505

New York

Public in-state tuition: $77,629

Public out-of-state tuition: $154,284

Private tuition: $285,261

Pennsylvania

Public in-state tuition: $130,555

Public out-of-state tuition: $214,861

Private tuition: $327,105

Rhode Island

Public in-state tuition: $105,327

Public out-of-state tuition: $264,676

Private tuition: $446,338

Washington

Public in-state tuition: $61,126

Public out-of-state tuition: $123,876

Private tuition: $340,314

This information was published on Fox Business