Small Colleges Feeling Pressure To Reduce Tuition

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Last month, SayCampusLife made mention of the initiative some colleges and universities are undertaking to reduce tuition for their students. Specifically, several upper echelon schools with annual education costs topping $40,000 — Ivy League schools, for example — have greatly reduced their charges to help families pay for their education.  The reasoning for this change is that the schools don’t want their grads to be saddled with a huge amount of debt upon leaving school. Therefore, as most of these institutions have billions of dollars in endowment money to tap, it is out of these funds that student costs are being covered.

Not every college that charges a mint for schooling can afford to match this initiative as they don’t have the funds available to cover student costs. According to an article appearing in the AACRAO Transcript, “Yale and Harvard Financial Aid Plans Put Pressure on Less Wealthy Colleges,” some of the less endowed, but expensive, colleges are feeling pressure from parents to develop their own aid packages.

Bryn Mawr and Dickinson College are two schools who are in the upper echelon of education and tuition costs, but their administrators say that they cannot match what Yale, Harvard and the others are doing. In fact, one father contacted a college official and said that the school should match what the Ivies and others are doing even though it would cost these schools a lot of money.

Some of the state universities may also start feeling the pressure as their tuition costs continue to climb. In California, for example, Berkeley educational costs are about $25,000 annually. Their funding, however, comes from state coffers and pressuring the legislature to provide additional funding may not come so easy — taxes would have to be raised or funds grabbed from other programs to cover costs.

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Categories: Campus News