In questioning the affordability of college, more families are asking, “Is the value of a college degree concomitant to the price?” However, despite annually increasing discounts on college tuition, 54.5% in 2021-22, thus improving college affordability for a wider swath of families, college enrollment continues dropping. As previously discussed in our series about the already shrinking middle class, increasing tuition…
The published college tuition is not likely the amount the average family will pay, as discounts in the form of merit scholarships increase every year. Thus, parents and students should not dismiss a college solely on price, but instead define value at a price they can afford. In the recent school year, 2021-22, the average incoming college student received merit…
While annually rising college tuition is regularly reported in the news, frequently prompting much concern and discussion, few families discuss increasing housing costs. Yet, depending on the city where the college campus is located and the availability of on-campus housing, where to live can quickly create additional costs, both in opportunity and financially for undergraduates. First, for young adults who…
According to the New York Federal Reserve Bank’s Survey of Consumer Expectations, since January 2021, respondents consistently predict rising college education expenses in the coming 12 months: 5.6% increase in January 2021, rising to a 6.1% increase in May 2021, and most recently in July 2021, even higher at a 7.5% rise. Whereas, just a year ago in July 2020,…
The University of California (UC) will begin raising tuition annually starting in Fall 2022 and extending through at least Fall 2026. However, tuition will be raised for each incoming class of first year and transfer students, then held flat throughout the remainder of their years at the UC. For Fall 2022 applicants, rising high school seniors on the cusp of…
College admissions officers award merit scholarships to demonstrate their “value” of a student’s high school experience like signing bonuses for highly sought after employees. A merit scholarship acts as a “discount” on tuition, reducing the overall Cost of Attendance (COA) of any college education, as merit awards are typically renewable for four years. Also, merit aid is awarded without regard…
Over the next three years, the Federal Department of Education will phase in changes to the FAFSA, the Free Application for Federal Aid, which may increase out of pocket college costs for families, yet reduce the complexity of applying for need-based financial aid. The following are highlights of the changes, as well as recommendations for families to consider: NUMBER OF…
Updated In Summer 2021, the University of California (UC) Regents will likely consider a proposal to raise tuition by 2% plus inflation starting in Fall 2022. Tuition would be frozen for six years for the Class of 2026 (those students starting college in Fall 2022). Then, each year, tuition would again be raised 2% plus inflation, each subsequent tuition increase…
Comparing the published price of tuition along with the size of the student population can be one metric to value a university education. However, “shopping” colleges on price alone is shortsighted, thus families may overlook valuable educational opportunities. Instead families should determine the value of any college education by discussing answers to reflective questions, starting with, “Why is a student…
According to famed investor and one of the world’s wealthiest men, Warren Buffet, “Price is what you pay and value is what you get.” And, given that the total price for college continues to rise at a rate greater than consumer price inflation, and families have already invested considerable capital as well as effort to prepare for college, it would…
The 1200% increase in college tuition over the last four decades, outpacing inflation by nearly 1000%, is Reason Number One parents often anxiously ask me about how their kid can apply for scholarships. As the conversation unfolds, many often also reveal having saved some for their children’s college expenses, though the amount is woefully inadequate, and are now looking for…
Recently, Art and I reflected about the effects of COVID-19 for our company and in our history. As an educator in private practice, I have pivoted frequently not only to meet the needs of clients, but remain competitive in the near perfectly competitive educational support industry. I, working with my partners have continuously sought to improve, in order to most…
For many higher education institutions, like the University of California (UC), the fiscal losses are growing as the health emergency extends, precipitating the need for a tuition increase. As reported in a December 12 Los Angeles Times article: Systemwide, UC took a $2.7-billion financial hit between March and October — about 6.5% of its $41.6-billion operating budget, mainly from lost…
Private universities discounted tuition in the form of merit scholarships and grants nearly 50% on average in the 2019-20 school year. Furthermore, tuition discounts for the 2020-21 school are forecasted to be 52.6% for full time, first year students, according to data from National Association of College and University Business Officers (NACUBO). And, in the current COVID-induced disruption of higher…
The sentiments of a current second-year college student attending a public flagship university in California when reflecting on the perils of the academic meritocracy: Rewarding/punishing requires less effort [by faculty and students] though, making it the easier default [system for measuring academic performance]. Assigning expectations, whether positive or negative, is a low-effort path that leads to lots of power/authority [on…
