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Investigating the cost of an education

February 15th, 2010

College costs money, and I have a master’s degree in stating the obvious. But arriving at an actual monetary figure isn’t nearly as simple. Every college publishes the prices of its tuition, fees and ancillary costs, but that doesn’t tell the whole story. Many students unknowingly limit their options because they don’t investigate further. Some students dismiss the notion of a private education entirely, without any investigation at all — because private schools are expensive, right?

In a recent letter published in the Wichita Eagle, “Private Colleges Can Be Affordable“, Newman University President Noreen M. Corrocci states, “The national average for tuition and fees at private universities is $26,273. The average for the Midwest region is $24,467, and the average for the Kansas independent colleges is $17,207. Nationally, room and board stands at an average $9,363, while the Midwest average is $8,026 and Kansas private colleges average $5,631.”

That gets us back to the published tuition, fees and ancillary costs. But the actual cost can only be calculated after figuring in the various forms of financial aid a student may receive.

According to Robert Head, “There is ample evidence to suggest that private colleges are more affordable in the long term because they disburse more institutional aid ($9,300 compared with $3,600 for public four-year schools) and because private college students tend to graduate in four years, eliminating the need for tuition for an extra semester or year.”

Additionally, private colleges offer many other intangibles that are difficult to put a sticker price on, but add value nonetheless, such as smaller class sizes and more personalized attention.

Investigate further. Talk to the right people and ask a lot of questions. Apply to the schools you are interested in attending so that they can determine any financial aid for which you may qualify. Ask about scholarships. The admissions teams at Kansas’ private colleges are more than happy to help.

 









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