The Price You Pay for College by Ron Lieber

'The fact that sticker shock is turning students away - that's a mistake,' says Andrew Kelly, an education policy scholar at the American Enterprise Institute. Few students, if any, end up paying the full sticker price.

Private colleges and universities tend to be the most expensive with state schools for in-state residents being the least.ĭon’t let this price scare you. with a yearly COA over $75,000 to the least expensive with tuition less than $3,000. (Location/region affects sticker prices, too.) They range from the most expensive four-year college in the U.S. Sticker prices vary widely depending on the type of institution: public or private, large or small, elite or less selective, etc. There may be variations in the cost of attending a particular school based on the housing and meal plan options selected or the number of credits a student takes per semester. This price includes tuition, fees, room and board, books, supplies and miscellaneous expenses. Ron Lieber, author of The Price You Pay for College, has observed, “I have never come across a consumer decision that inspires more confusion or emotion than this one.” What Is Sticker Price?Įvery college and university lists a sticker price which is also referred to as the cost of attendance (COA). But the question should be, “What will this college cost MY STUDENT to attend?”

Most families ask how much it costs to attend college, which means they are asking for the sticker price. Sometimes colleges with the highest sticker price end up costing far less than a college with an affordable sticker price. There is a difference between the sticker price posted by the college and the actual price you will pay if your student is admitted. What we learned quickly helped us put some of those colleges back on the list. When my daughter was looking at colleges, the initial shock of the high cost stopped us from considering several schools. They post a price because many will pay that price others, who can’t, search for the bargain.Įnter the college admissions process with the mind of a bargain hunter and you’ll be pleasantly surprised at what you will pay. It’s the same with any commodity: houses, cars, airfare, vacations. “Why do they ‘say’ it costs X amount of dollars and not charge that?”īecause while most can’t pay the price, some can. Most parents are shocked when I tell them to ignore the college sticker price printed in the book, catalog or on the college website.

The Price You Pay for College by Ron Lieber