College IS
expensive, and for many folks, I think, it’s not worth the cost.
Here’s another
side of the story:
Despite steadily
and acrophobically rising tuition rates, all of our private, nonprofit,
four-year colleges combined have had essentially no growth in net revenues in
the past 13 years.
Why? Because
colleges each year are granting ever higher scholarships and tuition rebates—in
effect, colleges are raising the tuition “sticker price” but actually charging less.
The so-called
“discount rate”—the difference between “sticker price” and what first-time,
full-time freshmen are actually paying—was estimated at over 46% in the
academic year just ended.
Yep, you
understand that correctly, the average freshman is actually paying barely more
than half of the much-ballyhooed, sky-high tuition “sticker price.”
At my college,
only a few short years ago the “discount rate” was about 32% and now it’s over
50%.
On top of that,
about half of colleges in a recent survey said their undergraduate enrollment is
declining.
Many colleges are
hurting financially despite relentlessly raising their tuition.
What you charge
is not necessarily what you get.
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