Tag Archives: cost of college

College is definitely, at least in most cases, a pricy proposition. Attending community college or earning substantial scholarship awards can defray the financial costs of college, but higher education demands a considerable time commitment as well. Considering just how much college students (and their families) invest in higher education, questions about the return on that investment only make sense. Any attempt to evaluate potential ROI from attending college requires the juggling of a variety of complex terms along with a stomach for uncertainty. College major alone dramatically influences potential earnings after graduation. What other factors should smart shoppers consider? Net Price Net price is the average cost of attendance, which includes tuition, fees, books and supplies, and living expenses, minus aid received from all sources. Net Present Value (NPV) The net present value is how much a sum of money in the future is valued today. This metric includes costs,…

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That old adage about having to spend money to make money has never been more true than in reference to college. Among the many clear benefits of a college education are measurably improved average lifetime earnings an a higher likelihood of a satisfying career. But those benefits come at a cost, one that seems to practically double every year. How much has the cost of college really increased over the last ten years? Unsurprisingly, our friends at the College Board happen to track this exact information. Their comprehensive analysis of Tuition and Fees and Room and Board over Time provides exactly the information we are looking for, especially after some additional calculations. Private Non-Profit Four Year Schools Average tuition for private non-profit four year schools in 2021-22 was $38,070. Average tuition for private non-profit four year schools in 2011-12 was $33,320. That increase of $4,750 over a decade represents a…

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While most applicants expect to earn a Bachelor’s degree in four years, more than half will fail to do so. In fact, fewer than two-thirds of students manage to finish even within six years. Considering how quickly the cost of college has been increasing, those extra years of college come at a tremendous cost. What kind of questions should high schoolers and their families be asking when considering why students don’t complete college in four years? Why does finishing a four-year degree on time matter? What academic issues keep students from finishing college on time? What credit and career planning issues keep students from finishing college on time? What role do or should colleges play in facilitating on-time completion? How can parents prepare high schoolers to finish their degrees on time? To understand both the massive scope and potential solutions to this common problem, I spoke with Rochester-based educational consultant…

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The world sure has changed a lot over the last thirty years, hasn’t it? I remember the absolute thrill of the earliest days of video games, when playing Pong or Space Invaders represented the cutting edge of fun. Yet, my son’s PS 4 renders games in real time with all the cinematic realism of feature films. If we recognize on a daily basis the quantum leaps technology makes every 18 months or so, why do we cling to a view of college that still resembles higher ed in the 20th century? Everything we think we know about college–from applying to attending to paying for the privilege–is changing at a rate that even professionals cannot keep up with. Believe me, I know. Every week, I speak with counselors, educations, and admissions professionals who study higher education from every angle. We all observe a lot more misinformation and myths than actual facts.…

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Is any aspect of college admissions more mystifying than the determination of financial aid? The concept of “need” and how different schools consider need in both admissions and aid decisions goes deeper than most people realize. For clarity to the topic of need blind and need aware admissions, I turned to college consultant Jona Jacobson. Jona Jacobson is an independent educational consultant based out of Rochester, NY who coaches students on choosing colleges and completing their college applications and essays. A former attorney and substitute teacher, Jona is in her ninth year of advising students and families through the college application process, both locally and nationally. What are five things you will learn in this episode? What do the terms “need,”  “need blind,” and “need aware” mean in college admissions? What is gapping? Do all colleges meet 100% of need? Does need or the lack thereof influence admissions decisions? What does it…

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Considering all the lives, livelihoods, and opportunities that COVID-19 has taken from us so far, finding something good that arose out of the pandemic seems too much to ask. However, the global shutdown hurt some industries more than others, which meant 2020 may have been one of the worst years ever for America’s thousands of colleges and universities. The College Stress Test predicted that a surprising number of institutions of higher education were in financial peril this year, and those models didn’t even take the threat of a massive shutdown into account. COVID has been absolutely horrible for most colleges. Many college students–or at least the ones willing and able to enroll in a school that was partially or entirely remote–found an unexpected benefit from the crisis: historically low increases in average published tuition prices. College Board’s annual Trends in College Pricing and Student Aid report usually tells a story…

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