Considering college costs: Privates can come out ahead
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.
Step 3 — Weigh the value of the investment. A high-quality education pays many dividends, many of which don’t show up on paper.
A comparison of costs should include consideration of graduation rates and lost earnings when students take longer than four years to graduate.