Alarms over sticker prices overlook the many nuances of college affordability
It would be great to have a transparent, sensible, and affordable university fee structure. Unfortunately, it almost doesn't exist. But it also doesn't help when intimidation tactics are used in identifying system failures. Susan D'Agostino's April 19 op-ed falls into that trap (“6 reasons why $90,000 in college costs are bad news, even if few people will pay that amount”).
I agree with D'Agostino that universities are not communicating their pricing well. Low- and moderate-income students have a hard time understanding need-based financial aid. High-income students don't know that they can receive an award of merit that reduces the sticker price at many institutions. For many students and their families, the ultimate price remains greater than they can afford.
However, with the exception of students from high-income families who attend highly selective institutions, few students pay the full price. So mentioning the $90,000 number only confuses students even more.it is net price A college amount that reflects the amount a student actually has to pay, rather than the list price. Yes, this includes loans – a concern raised by Mr. D'Agostino. The higher the net price, the more money students can borrow. But for most students at most institutions, list price should be ignored.
Finally, I strongly disagree with D'Agostino's assertion that financial aid is not an “antidote to exorbitant college costs.”further financial aid teeth solution. The institutions that charge the highest sticker prices and fully meet their needs have very large endowments. They offer the most financial aid. These are the least expensive schools for low- and moderate-income students to attend (if they can get in) because they have the resources to make it happen. Other institutions are not able to do it because they are not equipped or do not have the funds. That money would have to come from somewhere, either through more direct support from states or more federal funds for financial aid. That, along with better communication from the school itself, is needed to resolve the issue.
Philip B. Levin
wellesley
The author is Katherine Coman and A. Burton Hepburn Professor of Economics at Wellesley College and author of “The Problem of Fit: The Complexity of College Pricing Hurts Students and Colleges.''
Diligent applicants shouldn't be blinded by neon dollar signs
Families making life-changing decisions about college can do better than misleading headlines about cost. Especially when that message can lead to hard-working, smart students thinking that college isn't worth it.
The headline may draw clicks, but as Yvonne Abraham pointed out in a recent Metro column, most families spend less than $90,000 a year on college. In reality, it's less than half that for most students, and much lower for many low-income students.
Some headlines question whether college is really worth it. But even critical articles often quote the obvious. So for most students, it's life-changing on many levels. According to a study by the New York Fed, college graduates between the ages of 22 and 27 earn $24,000 more annually than their peers without a degree. By age 55, the annual income of a college graduate is 60% higher than that of a person without a degree. College graduates are more likely to be employed. Paid vacation, sick leave, and health insurance. And generally, they report being satisfied with their lives.
For their sake, and for the sake of our economy and the competitiveness of our commonwealth, let's hope that kids considering college won't reject an opportunity for change just because they read an alarming headline.
Rob McCarron
Representative Director and President
Association of Independent Colleges and Universities of Massachusetts
belmont
