Renee asked me a great question about how parents can feasibly consider having their child attend a private university, especially when you consider the costs associated with a private university like ours.
My advice for those parents and students who are in the "beginning" stages of their college search is not to rule out applying for or considering a university because of the cost. You should conduct your search with some attention paid to cost, but don't cross a school off your list just because it's expensive.
The truth is that you cannot predict how costs, financial aid and scholarships will work out until you're at the crossroads of "okay, I've been accepted to schools A, B, and C, and here are my financial aid packages..." -- only then can you truly say whether or not a school is affordable. You also can't rely on other students' experiences and financial aid packages to gauge how you'll fare in the process because every family's situation is different and applied to several colleges, each scenario will play out in a different way.
I've worked with a number of private universities in my career -- both directly and as a colleague -- and for the students and parents I've met -- I've nearly always given this advice. I don't give this advice because it's "a part of my job" -- I give this advice sincerely because I've seen the opposite effect happen -- that students don't even apply due to costs...and then they are left wondering what would have happened if they had just given the application process a try.
I don't think there's any reason to fear the process. There is no crystal ball for this process -- if this was all that simple -- I'd be out of a job -- or else I'd have to learn how to read palms.
Narrow your schools down because of "fit" or because it doesn't have the types of academics you're looking for. Let the financial aid questions be answered truthfully through the admission and financial aid application processes.
Renee, I hope your son applies next year...
And Medini -- we look forward to your daughter making this place home too.
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2 comments:
I respectfully disagree. There is an emotional cost to applying for a college, getting in and then being rejected for financial reasons. Which is better- being accepted getting all excited about admission and then a rejection that comes in the form of an unrealistic contribution expectation for middle and upper middle class parents or a letter saying you are not accepted? I contend the latter is easier to swallow.
Hi John,
You're right, there are a number of ways to look at this situation. I still believe that if a student feels very strongly about a college/university -- then families should explore their options and at least consider applying for admission and aid -- before looking at the college's cost and deciding not to even apply.
Your point brings to light the fact that families should decide for themselves to what extent they're willing to explore their options. Your point also brings to light the fact that families should have a wide range of college options, not only considering "academic safety schools", but also considering "financial safety schools".
I appreciate your perspective.
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