College is on sale? | The Frugalista

College is on sale?

by frugalista on June 29, 2010

I didn’t believe when I first heard it, but colleges are discounting their prices.

The average private institution is slashing its college tuition by 53.5%. So a school with a tuition sticker price of $30,000 would actually cost $13,950, writes Lynn O’Shaughnessy (author of The College Solution) on her Money Watch blog.

Also, colleges are offering discounts for summer school.

I’ve often read that college costs were on the rise, but a new study says that the private schools are slicing prices to compete for students. I went to a private college (happily) , but if I were a high school senior now, I would probably consider seriously the state college route. Student loans aren’t as sexy as we thought they once were. LOL
Community colleges have really beefed up their programs and are dirt cheap when you think about what they offer. Many people question if college is worth the expense.

What do you think about the college discounts? Is it about time? Do you think private schools are feeling competition from state colleges? Do you think college is over priced?

Talk to me!

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{ 2 comments… read them below or add one }

Lynn O'Shaughnessy June 29, 2010 at 4:05 pm

Hi Natalie,

Thanks for mentioning the college blog that I write for CBSMoneyWatch. Unfortunately, most families don’t realize that colleges routinely discount their prices. In fact, for some students the discounts that they receive from private schools will make a private education cheaper than one at a state university. It’s important to evaluate a school financially as well as academically.

Price tags are really meaningless. That said, i do agree with you that students have to be careful with student loans. My advice is to try to limit your borrowing strictly to federal student loans. Stay away from private student loans, which don’t have the protections that federal loans offer.

Lynn O’Shaughnessy
TheCollegeSolution.com

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frugalista June 29, 2010 at 4:20 pm

Hey Lynn,

Thanks for stopping by! I know that a lot of the Ivy League schools offer really good scholarships for those whose income brackets are middle class and below. I agree with all of your advice!

Nat

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