Price is increasingly becoming a factor in choosing colleges for application, and enrollment. 67% or two-thirds of families surveyed recently for a Sallie Mae study, eliminated potential colleges at some point in the application and research process based on price, with 40% not even researching colleges after learning the yearly costs. Our clients are following similar trends, as more questions about financial aid and scholarships continue being asked, as well as students choosing to apply to more private universities based on the greater probability of merit aid. In addition, for each of the past three years, at least two students we’ve advised have chosen an out-of-state public university over an in-state public university based on cost per year and an increased chance of graduating in four years, thus reducing the overall expense.
