8/7/2023 0 Comments Sticker pricing calculator![]() ![]() Kelly says the reason is selection bias: the data only include the net price for students who've already enrolled, not for students who were admitted but chose not to attend. Kelly says that students shouldn't immediately jump to the conclusion that the numbers in the graph are exactly what they're going to pay when they get their admissions letter - the price will vary depending on how desirable the student is to the school, among other factors. "There are still lots of unanswered questions," said Andrew Kelly, an education policy scholar at the American Enterprise Institute. In public schools, net price often meets sticker price at the high end. Even at the high end of the income spectrum, the net price is significantly less than the sticker price. But overall, the typical public school is still cheaper than the typical private school.Īt private universities, almost no one pays full price. What this means is that public colleges can actually be the more expensive option, particularly if a student's family is low-income. Public colleges don't offer steep discounts for low-income families. The cost curve for public universities is flatter. Amherst is among the top 50 schools that emphasize upward mobility, and this pricing structure reflects that. The cost of attendance (including tuition, fees, books, etc.) for students in the lowest income tier (with a family income of less than $30,000) is only $2,000, but for students in the highest tier (over $110,000), the cost is $40,000. The school where that difference is the greatest is Amherst College. There are significant differences between what students from low income and high income families pay, particularly at elite private universities. Search below to see how much each school actually costs: It leaves out a key variable administrators use in determining how much college will cost a student: family income. But there's one problem with this approach. Instead, they focused exclusively on the average net price for all students. The creators of the scorecard decided to exclude the sticker price altogether. This month, the Department of Education released the College Scorecard, a tool commissioned by the Obama administration to help students make better choices about college, and about spending money on college. For an incoming freshman, this net price is the number that matters the most, and until recently, it was also the number that we knew the least about. The net price is that very same number less scholarships, grants and financial aid. The sticker price is the number that most schools list in their brochures. There are two prices for every college degree: the sticker price and the net price. ![]() NPR Ed Making Sure College Is Worth The Cost ![]()
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