At most private schools, few students pay the list price. A new Forbes tool gives you a quick idea of what your real price might be. Plus, we’ve got advice on the longer process of getting a final financial offer, beginning with filling out the new FAFSA form. the Hmong College Prep Academy in St. […]
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What’s behind the sky-high cost of a college education — and are there any solutions?
The Biden administration’s announcement that up to $20,000 in student loan debt will be canceled for borrowers will bring welcome relief to millions, as long as courts allow. But that relief won’t do anything to slow the rapidly rising cost of going to college. In the 1963-1964 academic year, the average annual published cost of in-state […]
How can we fix the college affordability problem?
It is no secret that we have a higher education affordability problem in the United States. The staggering costs can amount to $80,000 per year at private colleges and universities and $30,000 per year at public institutions. Who can afford that? Yet the true cost of college is typically much less than that because of financial aid. The real problem is that students from lower-income families still face charges far greater than they can afford even after accounting for financial aid.
In my forthcoming book on the crisis in college pricing, my research team used net price calculators at 200 randomly chosen four-year residential institutions to estimate how much colleges actually charge students at different income levels.
Republicans are Wrong; Doubling the Pell Grant Is Good Policy
Phillip B. Levine writes that such a change would directly benefit low-income students. Recently, a number of Republican lawmakers expressed opposition to proposals to double the Pell Grant. They argued that more generous grants would simply lead colleges to increase their prices, canceling out the intended benefit of making college more affordable for low-income students. However, not only […]
College Costs Are Notoriously Opaque. Use These Tools to See How Much You’ll Pay Before Applying
Michael Scarlett knew more about college costs than most parents. A professor of education at Augustana College in Illinois, he understood that the sticker prices colleges advertise are typically reduced dramatically with scholarships and grants, particularly at private institutions. But when it came time for his son Brendan to apply to college last year, he […]
Reassessing our Financial Aid Policies due to COVID
Many institutions are reassessing their financial aid policies in light of the COVID recession. What do college finances look like right now because of COVID and how tricky are financial calculations going to get? Dr. Phillip Levine, professor of economics at Wellesley College and founder of MyinTuition, joined the Enrollment Growth University podcast to talk about where our […]