Four years after the Harry Potter movie franchise came to an end with 2011's Harry Potter and the Deathly Hallows - Part 2, there are still a few burning questions that fans have. One of these questions is how much a young witch or wizard would actually have to pay each year to attend Hogwarts School of Witchcraft and Wizardry. Mic.com attempted to answer this query earlier this week, estimating that one year at Harry Potter's beloved school would cost an estimated $43,031, with $42,000 in tuition and $1,031 in books, wands, owls and other costs. As it turns out, though, this estimate was off by $43,031 as author J.K. Rowling revealing that tuition is free!

"There's no tuition fee! The Ministry of Magic covers the cost of all magical education!"

There is never any reference to tuition in J.K. Rowling's books, so it shouldn't be terribly surprising that none of these students and their families have to foot the bill. It's established early on in the movies and books that Harry Potter was left a fortune by his late parents. The Weasley's, on the other hand, never had much spare income, although the patriarch did work for the Ministry of Magic. There are a few instances, though, where money is somewhat of an issue for the Weasley's, such as Ron (Rupert Grint) receiving a hideous hand-me-down dress robe in Harry Potter and the Goblet of Fire, and Ron's long list of required reading material in Harry Potter and the Chamber of Secrets.

As it turns out, though, none of these wizards, witches and their families had to worry about footing the bill for seven years of schooling. But it does raise another question: where does the Ministry of Magic get their funding from? How can they afford to pay for the education of thousands of young witches and wizards? Those questions remain unanswered, for now, but it's possible that the Ministry relies on donations and contributions from wealthy wizards like the Malfoy's. There could also be other revenue streams in the wizarding world. Perhaps quidditch is like the magical world's NFL, and the Ministry rakes it in from events like the Quidditch World Cup, a massive event that appeared to be on par with the Super Bowl in Harry Potter and the Goblet of Fire.

J.K. Rowling is continuing her beloved franchise with the new spinoff Fantastic Beasts and Where to Find Them, which is set 70 years before young Harry Potter first enrolled at Hogwarts. The story takes the action across to our side of the pond, following magizoologist Newt Scamander (Eddie Redmayne), who sets out to chronicle the locations of magical beasts. Katherine Waterston, Ezra Miller, Alison Sudol and Dan Fogler round out the growing cast, with Warner Bros. setting a November 18, 2016 release date.

Related: Harry Potter Fans Wait in 10 Hour Line for New Hagrid Ride at Universal Studios

Since the spinoff/prequel is set in New York, it seems unlikely that we'll catch any glimpses of Hogwarts or any other familiar magical locales. However, this project will be the first of a planned trilogy, so perhaps Newt and his new cohorts will eventually make their way to the U.K. at some point. While we wait for more details on this magical movie, check out J.K. Rowling's tweet below, where she confirms free tuition for every Hogwarts student.