With ever-rising loan interest rates, dwindled savings from financial hardship and less scholarships on the market than in years prior, high school graduates are having to decide between Ivy League and state schools based on price versus prestige.
With seven out of ten high school graduates heading straight to college, the student enrollment is up, as are the tuition prices.
Private colleges are averaging about $35,000 and state universities are about $15,000 a year. When compared with the value comparison calculators offered on most state university websites, students may see that after four years they could potentially save over $100,000. Those numbers are hard to argue with.
But legacy schools are not backing down or lowering their prices, claiming that a degree with a prestigious name can open doors for better jobs than state universities can and admission agents argue that students should be making decisions based on intellectual sense not cents.
Also, schools across the country have been premiering three-year degree programs that are scholastically intense but provide students the opportunity to graduate with only three years of tuition as opposed to four.
The suffering economy has clearly left no person nor industry unaffected. While it’s a fact that getting a good education is paramount in securing your place in the professional world, students and parents are questioning just how much they are willing to spend on an education and they are also questioning what really is in a name?