तलको ब क्समा थिच्नुहोला ।
Advertisement 
|
|
Advertisement
|
Think tuition at private colleges is too expensive to even consider attending? You’re not alone – the majority of students believe this. However, there’s proof that this is a complete misconception and, in truth is a complete myth.
A recent survey of private colleges found that only 11 percent of students pay the full “sticker” or published tuition amount.
The National Association of College and University Business Officers (NACUBO) reports that, in reality, 89 percent of freshman attending private colleges received a grant or scholarship, which reduced tuition costs. This is a record amount and equates to students paying an average of only 54.3% of the actual “sticker” price at private colleges – another record amount.
Why is this happening? The recent survey indicates that private colleges utilize discounts by offering them as “merit scholarships,” in attempt to flatter and recruit more applicants. In reality, they are more closely related to a discount than anything. Either way, it means that students are saving on tuition -which is what matters.
Where can you find these discounted tuition prices? Apparently, the higher the acceptance rate, the better the odds of obtaining these tuition price deals.
For example, colleges that admit more than half of their applicants charged, on average, less than $20,000 in net tuition after scholarships and grants were subtracted from the original amount. Colleges which admit less than half of their applicants end up charging students, on average, $23,600 in net tuition.
Time Money even found 99 colleges that give every freshman a scholarship. Bear in mind that this is general practice for these schools. Also, consider the fact that a recent survey found that the average private college awards grants or scholarships to 89 percent of freshman.
Mainly, wealthier, more selective colleges and universities receive plenty of applicants. According to NACUBO reports, that’s why nearly a third of these schools (think: Ivy League Colleges) did not offer an increased amount of discounts last year. On average these more selective colleges, which have admission rates of 33 percent or under, only award about half of their students grant funding.
On the flip side, more than 1,000 private colleges who want to attract more applicants (non-elite colleges which accept around 66 percent of applicants) are stepping up their discount game to stay in the running for students’ college choices.
These private colleges have increased tuition discounts in the form of scholarships and grants for a few key reasons. According to a Time Money article, the main reasons are economics, competition and psychology.
Due to rising tuition costs and a tough economic climate, applicants need scholarships and grants to afford private colleges. Private colleges are simply accommodating this need so students are able to consider attending their schools.
Additionally, many private colleges have recently experienced a decline in enrollment - about a third of the schools NACUBO surveyed had a decline in enrollment numbers last year – and need to combat their recruitment problems with higher discount offers.
If most private colleges are offering discounts, why don’t these private colleges just reduced overall tuition instead of offering discounts in the form of awards?
Apparently, simply put, offering these discounts in the form of scholarships works. A private college consultant researched the psychology behind this and found that 40 percent, or a little over one third, of students and their families would choose a school that awarded the student a scholarship that ultimately discounted tuition prices because of “bragging rights,” over another college with lower tuition and aid (with comparable net costs).
Studies have shown that decision-making can be affected by an occurrence that’s sometimes referred to as the “Chivas Regal effect.” This means that high prices are interpreted as an indication of quality so, in the case of college decision-making, many assume the higher the “sticker” price, the better quality of an education. Please note that this assumption is completely false and research into this theory has led to findings proving the “higher cost equates to better quality” theories.
Take away: look beyond the school’s “sticker” price and focus on the “net” price, which is the actual tuition amount paid after scholarships and grants have been applied.
"The 2014 NACUBO Tuition Discounting Study provides more evidence that students and families should look beyond sticker prices when evaluating the right college for them," said NACUBO President and CEO John Walda. "As college affordability conversations continue, the study shows private colleges and universities are tackling the issue in part by increasing discount rates and providing more grant aid to more students."
“Sticker” prices can be misleading, especially now, when record-amount of students are offered such high discounts.
At the end of the day, it’s best to consider any college you love. Then, find out what you’ll actually owe in tuition to determine if it’s affordable – never make assumptions before counting a school out. Plus, don’t forget that you can always apply for additional scholarships and grants on your own for even more tuition help!
Source feed Post from fastweb http://ift.tt/1lv5Icy
via IFTTT
|
Advertisement
|
0 comments:
Post a Comment