As you know, taking time to compare costs is worthy of students’ time. When it comes to college, the one with the lowest listed price may not be a bargain in the long haul. Our new handout, “How much does college cost?" outlines three steps for families:
Step 1 — Think about the amount you’ll actually pay (which usually isn’t the listed price).
Step 2 — Consider graduation rates. At Minnesota's Private Colleges, students are more likely to graduate in four years, avoiding financial outlays for a 5th or 6th year.
Data show that when looking at all costs — the amount actually paid,
graduation rates and longer-term value — families can come out ahead
with private nonprofit colleges.
Some institutions encourage families to use overly simplistic
comparisons on college costs. Whether it is a billboard ad or a flyer at
the State Fair, it’s suggested that comparing costs starts and stops
with looking at published tuition figures. But data analysis by the
Minnesota Private College Research Foundation shows that when looking at
all costs, families can come out ahead in the end with private
The percent of grant aid received by students at Minnesota’s Private Colleges increased 94% over the past eight years. Grant aid clearly makes a difference in our institutions’ affordability.
The percent of grant aid received on average by students at Minnesota's Private Colleges increased 94% over eight years, from 2000-01 to 2008-09. This compares to the change in published tuition and fees of 61% over the same time period.
Grant aid clearly makes a difference in making our institutions affordable. Although the list price for a college education continues to grow, the amount our students actually paid has declined from 57% to 51% of the published tuition price between 2000-01 and 2008-09.