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College: Much Cheaper Than You Think -- Most Students Pay Less than Half the Sticker Price
The Atlantic ^ | 04/19/2014 | DEREK THOMPSON

Posted on 04/19/2014 10:44:12 AM PDT by SeekAndFind

It's a point we've made a million times. We're making it again.

What's the most expensive college in America? Ask Google, Princeton Review, or the Chronicle of Higher Education, and you'll get the same answer: Sarah Lawrence University at $61,236.

It's kind of crazy. No, not (just) the price. It's crazy that when we talk about price, we often only talk about tuition, a sticker shock that only 35 percent of Sarah Lawrence graduates pay in full.

The Sarah Lawrence story is typical. Only a third of full-time students at four-year public and private schools pay the published price at a college. The vast majority pay a discount thanks to grants and other aid. For the typical student at a private non-profit college, the net cost of school is less than half the sticker price.

College tuitions aren't just more expensive than the net cost, as the first graph on this post shows. The price you see is also growing much faster than the price you pay.

(Excerpt) Read more at theatlantic.com ...


TOPICS: Business/Economy; Education; Society
KEYWORDS: college; tuition

1 posted on 04/19/2014 10:44:12 AM PDT by SeekAndFind
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To: SeekAndFind

They simply overcharge the non-minority students so they can give the minority students “scholarships” out of the proceeds.


2 posted on 04/19/2014 10:50:55 AM PDT by E. Pluribus Unum ("The best way to control opposition is to lead it ourselves." -- Vladimir Ilyich Lenin)
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To: SeekAndFind

Not true at Univ of Washington in Seattle.
They get 25,000 applications for Freshman year with 5500 available seats. So there are very few scholarships.

On the other hand my kid just got admitted to a law college with $37,000 yearly tuition but was awarded $20,000 yearly scholarship.

So it varies with the institution.


3 posted on 04/19/2014 10:53:18 AM PDT by entropy12
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To: SeekAndFind

The “ticket” price is only half the story. This guy doesn’t get it. The whole thing is just like used car sales. They figure out how much you can afford and that becomes the price. The quality of the product sometimes isn’t much better.

A second reason it is only half the story is that there are fees and books and housing issues. My grandaughter earned a full tuition scholarship to NAU. However she was informed that the rest of the “fees” would come to $20,000. So she had to pass it up.


4 posted on 04/19/2014 10:53:26 AM PDT by the_Watchman
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To: the_Watchman

Don’t believe anything you read in the establishment that says “things in America today are not as bad you you think.”


5 posted on 04/19/2014 10:57:03 AM PDT by Monmouth78
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To: SeekAndFind
Well, you can have a market economy, in which buyers and sellers set prices.

Or, you can have a manipulated economy in which certain people get sweet deals and certain other people pay for their own stuff as well as other peoples' stuff. All for the greater good, doncha know. I think that's basically collectivism and it's all part of government interference in the marketplace. That's America.

6 posted on 04/19/2014 10:57:21 AM PDT by ClearCase_guy
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To: SeekAndFind
Being enrolled for even one semester in a left wing college for an Instant Unemployment Degree is a terrible waste of money.

What can an over educated/dumbed down liberal with an IED, Instant Unemployment Degree expect if they are graduated?


7 posted on 04/19/2014 11:04:06 AM PDT by Grampa Dave ( Herr Obama cannot divert resources from his war on Americans!)
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To: SeekAndFind
Probably the biggest expense of college for parents is dorm living. Sending your kids "off to college" is the expensive part. Not only the dorm expense (which can rival that of an off-campus apartment) but all the cash you have to send to your kids so they can buy clothes, iPods, laptops, go to restaurants, pitch in for the weekend keg parties, and so on.

I put my two kids through college with hardly any trouble at all. I live in Boston area which puts several dozen colleges and universities within commuting distance of my home. I basically had my kids commute from the house and they worked part-time jobs to pay for their books and other expenses. They ended up going to state university where I only had to pay in-state tuition. I forget the exact amount but it was just a few thousand dollars a semester twice a year. It was a breeze and I paid out of pocket so no loans for me either.

Dorm living is what kills you financially.

8 posted on 04/19/2014 11:07:42 AM PDT by SamAdams76
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To: the_Watchman

“A second reason it is only half the story is that there are fees and books and housing issues. My grand daughter earned a full tuition scholarship to NAU. However she was informed that the rest of the “fees” would come to $20,000. So she had to pass it up.”

Then, throw in an extra 5-6 K costs per year for a 4 year degree morphed into 5-6 years, and you have a debt/cost of $100k or more on a full tuition scholarship degree.


9 posted on 04/19/2014 11:08:39 AM PDT by Grampa Dave ( Herr Obama cannot divert resources from his war on Americans!)
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To: SeekAndFind

Typical liberal garbage. To them, OPM = “free.”


10 posted on 04/19/2014 11:23:27 AM PDT by Cyber Liberty (H.L. Mencken: "The urge to save humanity is almost always a false front for the urge to rule.")
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To: SeekAndFind

I hate articles that pretend to tell me what I think.

1. “rich privileged Whites” pay full price.
2. “poor oppressed non-Whites” get a subsidy, courtesy of the “rich privileged Whites.”


11 posted on 04/19/2014 11:24:27 AM PDT by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: E. Pluribus Unum

Actually, it’s become so fueled with excess (loan) money, it’s become like the medical industry - put up a ridiculous bill and get as much as you can legally get. I would like to know the last time a single person (or their insurance company) paid the “list price” for a non-trivial medical procedure.


12 posted on 04/19/2014 11:28:13 AM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: SeekAndFind

Hmm... Well I definitely don’t trust that list. Sarah Lawrence is $61,800, whereas SMU is right up there at $60,200. and according to Goolge, the number two school (NYU I think) was around $59k. And I’m positive there are schools a good bit more expensive than SMU.


13 posted on 04/19/2014 11:37:59 AM PDT by Svartalfiar
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To: E. Pluribus Unum

My oldest is one of those “non-minority students” you mentioned.

The sticker price of my daughter’s college, full four years, was over of $130,000.

We paid less than $25,000.


14 posted on 04/19/2014 11:38:23 AM PDT by Gamecock (If the cross is not foolishness to the lost world then we have misrepresented the cross." S.L.)
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To: SamAdams76

I’m more amazed at the parents who put their kids up in an off-campus apartment or house. During my tenure as an ROTC instructor at an SEC school, I knew several families who actually bought homes for their children. At the time, it wasn’t a bad investment, I suppose, because most were able to sell the houses later at a profit. But in terms of setting an example for your kids, it only added to the sense of entitlement that is rampant among the Gen-Xers and millenials.

Equally shocking were the number of kids on the six and seven-year plan for a bachelor’s degree. I finished my UG degree (in journalism) in three-and-a-half years and barely broke a sweat. No excuse for anyone who’s a full-time student (and isn’t a varsity athlete) to need more than four years to finish any liberal arts degree. Engineering and the hard sciences are a different story, but I’ve known plenty of students in those majors who graduate in four or five years. That’s because most of those students are bright and have a fair degree of discipline.


15 posted on 04/19/2014 11:59:24 AM PDT by ExNewsExSpook
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To: The Antiyuppie

We are not in disagreement.


16 posted on 04/19/2014 12:04:26 PM PDT by E. Pluribus Unum ("The best way to control opposition is to lead it ourselves." -- Vladimir Ilyich Lenin)
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To: SeekAndFind
“The vast majority pay a discount thanks to grants and other aid. For the typical student at a private non-profit college, the net cost of school is less than half the sticker price.”

If the grants don't come from that university, the cost is not ‘discounted’. It's just that someone else is paying for it.

17 posted on 04/19/2014 12:19:23 PM PDT by pieceofthepuzzle
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To: entropy12

“On the other hand my kid just got admitted to a law college with $37,000 yearly tuition but was awarded $20,000 yearly scholarship.”

Same exact thing with my son. Got $23,000 in scholarship money for a $40,000 tuitition. My son did get his because of diversity. He is a white, Jewish male from Texas going to a NE liberal WASP school. I guess they were short Jews from Texas.


18 posted on 04/19/2014 12:19:28 PM PDT by EQAndyBuzz ("Heck of a reset there, Hillary")
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To: SeekAndFind

The system is a scam. What is happening is the unfortunate people who are stuck paying full tuition (generally middle class white families) are subsidizing everyone else that gets a break because they are a minority, have sexual identity issues, or are semi-pro athletes recruited for the football team.

This has largely forced the middle class out of private colleges, and increasingly from public ones as well, primarily leaving community college for the first two years, then trying to get through the final two years at a public university.

It’s just like Obamanomics with “free stuff” for the majority, and the rest stuck with paying the bill.


19 posted on 04/19/2014 12:29:37 PM PDT by kaehurowing (FIGHT BULLYING, UNINSTALL FIREFOX)
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To: kaehurowing
The system is a scam.

I'm with you there, in the sense that a college education is greatly over-valued.

What is happening is the unfortunate people who are stuck paying full tuition (generally middle class white families) are subsidizing everyone else that gets a break because they are a minority, have sexual identity issues, or are semi-pro athletes recruited for the football team.

I don't think the system is that unfair, since no one is coerced into paying for tuition, and kids whose parents can pay full boat often get a break on admittance.

OTOH, I'm completely opposed to taxpayer subsidized student loans.

20 posted on 04/19/2014 12:37:23 PM PDT by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: ExNewsExSpook

As to off-campus apartments, sometimes you have no choice. My daughter goes to McGill in Montreal, and dorms are only for freshman, or first year student as they call it. But the up side is that an off-campus apartment is actually cheaper than the dorms.


21 posted on 04/19/2014 1:06:11 PM PDT by gusty
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To: The Antiyuppie
Actually, it’s become so fueled with excess (loan) money, it’s become like the medical industry - put up a ridiculous bill and get as much as you can legally get. I would like to know the last time a single person (or their insurance company) paid the “list price” for a non-trivial medical procedure.

Yup. Just enrolled my daughter in a private high school (a very good private high school - no way we were sending her to a public indoctrination center). The school's annual tuition was WAY outside our capability to pay; it amounted to roughly 20% of our pre-tax salaries.

We came back and said we'd pay half. School added a trivial amount to our offer and came back with a counter-offer. It's still a big hit for us, but absorbable.

Colleges operate exactly the same way. Once they reach a tipping point in terms of covering their annual operating costs and their desired profit margin, they'll negotiate down to get kids in the door to meet their "full enrollment" numbers.
22 posted on 04/19/2014 1:16:37 PM PDT by tanknetter
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To: tanknetter

This is a story, pitched by a PR firm — hired by an Association of Universities and Colleges — to fight back on the negative PR they have been receiving.

It is propaganda and spin.

Students are absorbing frightening amounts of debt The US is out of whack.

This was tuition in 2013:

• University of Chicago - $45,945
• George Washington - $45,780
• Stanford - $41,250
• McMaster (Hamilton, Ontario) - $20,966
• McGill - $14,561
• University of Winnipeg - $11,115


23 posted on 04/19/2014 2:14:26 PM PDT by pkmaine
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To: ExNewsExSpook

“But in terms of setting an example for your kids, it only added to the sense of entitlement that is rampant among the Gen-Xers and millenials.”

So we are going to start another generational war? I never let Boomers trash other generations without reminding them that they are THE most narcissistic, idiotic, whiny, and entitled generation in the history of any country ever. And yet, they want to trash Xers, who will have to clean up the mess they created. Yeah, you keep those blinders on and have at it. And remember who started this....


24 posted on 04/19/2014 2:19:15 PM PDT by BizBroker (There is no "radical Islam", there is only Islam itself.)
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To: BizBroker

Never said my generation was without fault...in fact, we fit your description to a “T” But not all boomers fit those criteria, just as all X-ers and millenials don’t fit the stereotypes associated with their generation.

The problem is quite simple: at some point, the coddling, narcissism and entitlement attitudes that began with the boomers (and continued with their kids and grandkids) have to stop. If they don’t, the country is through. It’s that simple.


25 posted on 04/19/2014 4:11:55 PM PDT by ExNewsExSpook
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To: I want the USA back

YES! And you don’t have to be “rich” to fall into the “rich white” category, earning a decent middle income will put you over the line to receive NO grants, and if you don’t want your kids to pay loans all you get is the old fashioned scholarship (And if your kids don’t score really high on SAT or ACT may not be all that much.)

It just aggravates me that we pay such high taxes and some family who doesn’t have a dad who works long , long hours gets the benefit of my husband’s hard work! We are basically being forced to pay for some other family’s kids to go to college out of our pocket!


26 posted on 04/19/2014 4:32:17 PM PDT by boxlunch (Psalm 2)
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To: EQAndyBuzz

My daughter probably received the scholarship because of her essay on why she deserves this thing. She has amazing writing skills (great bs factor haha). Her GPA was 3.5+ which is pretty good from Univ of Wash...a very hard school.


27 posted on 04/19/2014 5:33:22 PM PDT by entropy12
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To: ExNewsExSpook

Agreed...


28 posted on 04/19/2014 9:55:34 PM PDT by BizBroker (There is no "radical Islam", there is only Islam itself.)
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To: pkmaine

Isn’t McGill one of the ‘Canadian Ivies’? Wow such a deal.


29 posted on 04/20/2014 5:26:00 AM PDT by bjorn14 (Woe to those who call good evil and evil good. Isaiah 5:20)
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