Scholarships and Aid Amounts Set New Record

News out this week reveals that private colleges and universities are discounting tuition at a record rate.
The National Association of College and University Business Officers, in their annual study, reported that the average tuition-discount rate for the 2018-19 academic year was about 52 percent for first-time freshmen.

So, when looking at private colleges, we have to look beyond the published Total Cost of Attendance, which sometimes exceeds $70,000 per year. Cost reductions come for two reasons:

• If family income is modest and the college is generous with need-based aid, the student may have to pay only a fraction of the published costs.
• Or, if the college awards scholarships and the student’s academics and test scores are very competitive, scholarships can substantially reduce the cost. At some colleges, this is true even for high income families.

​For more on this, here is the link to the article, https://www.chronicle.com/article/Private-Colleges-Set-New/246281