The College Board has published an annual report on college pricing since 1998.  The report looks at tuition and fees, room and board, and other related costs at colleges in the United States.  It also reviews the net price of college after subtracting financial aid grants to students.  Colleges are categorized as public four-year, public two-year, and private non-profit four year.  Data is also collected for public out of state student pricing and for-profit pricing.  (see http://www.collegeboard.com/html/costs/pricing/) 

The College Board states that all costs of college attendance are important and that often, costs such as room and board and books influence the ability of a student to afford college more so than tuition and fees.  The College Board encourages readers to cite or reproduce the data as long as they are given proper attribution, so I’ll list a few facts that I found interesting in this year’s report.

Read the rest of this entry »

Graphic from Measuring Up 2006, a publication of The National Center for Public Policy and Higher Education, showing the increasing costs of various consumer goods and services in relation to the Consumer Price Index.

As a recipient of financial aid in the 1970’s when I attended Duke and Tulane, I can relate to the continual and ongoing debate about the affordability of college.  I was fortunate to have parents who believed in the benefits of higher education and who told me to “go to the best school that you can get into and we’ll figure out how to pay whatever the financial aid office says that we have to pay.”  Thanks, Mom and Dad.

Fast forward a few decades and it’s difficult to pick up a newspaper or magazine without reading about the issues surrounding the affordability of higher education.  The subject is complex, solutions are complex, and many people have opinions on the issue.  Robert Bliwise writes an article in the July-August issue of Duke Magazine that articulates the view from his vantage point as a professor of public policy.  There are a few highlights that I’ll mention and will certainly resurface in a few ongoing pieces about the financial aid debate.

Bliwise begins with a description of a book published twenty years ago by Charles Clotfelter (Duke ’69) called Buying the Best.  Clotfelter, a public policy professor at Duke, examined the way selective colleges and universities competed for the best students and awarded aid.  Students weren’t price sensitive about an elite education in those days and financial aid was growing faster than any other area of campus spending.  In the article, Clotfelter discusses the issues between need-based aid and merit aid.  Clotfelter defends need-based aid as “a guarantor of the brand,” and states that the value of the institution would be diminished if only the affluent could attend.  I agree, personally and professionally.  Bliwise quotes Duke’s undergraduate admissions director, Christoph Guttentag, as stating that there’s now a competition between the “haves and the have-mores” in demonstrating the social contract balancing the affluent and the needy.  Bliwise provides a list of thirty-six “elite” schools that have created more generous financial-aid packages for families with incomes ranging from $40,000-$100,000 per year.

Read the rest of this entry »