Cost of the Leading College Brand

CNN has reported on a recent survey in which it seems a surprising sample of college students prove their “first choice” was just too expensive.

Over 270,000 students were surveyed for the annual UCLA Higher Education Research Institute poll. This perennial poll is a tool that’s been useful over the years for underscoring current collegiate tides and emerging trends. This newest current is fomented by the fact that college costs continue to rise faster than other costs in life:

“Average tuition and fees at four-year public colleges rose more than 6 percent last year to $4,836, and prices are up 35 percent over the last five years…”

A few days ago, we noted the latest interest cuts accorded to big student loan providers in the realm of federal loans, all in the name of making college more affordable. A White House statement associated with the cuts called on colleges and universities to take their responsibility to heart for the unchecked tuition costs. These additional findings will, of course, continue to sharpen the criticism of college pricing.

Savvy Shoppers

Think you are the only one to be concerned about first-choice costs? Get this: nearly one third of the close to 50% who’d gotten into their first choice, ended up at a second, third or fourth choice due to cost issues.

“ The survey found 32.7 percent of freshmen were attending college somewhere besides their first choice — the highest percentage since 1988 and the second-highest ever.”

College students are among the newest savvy shoppers: many pick the top schools, and for the most part get accepted. And like smart shoppers, they opt for the deal at the store down the street, where the item is similar, but far more equitably priced. Is there simply a satisfaction in knowing you “made it” into your top pick?

Might the degree and overall experience at Number 2 or 3 be just as valuable as the one turned up at Number 1?

“Many students at second- or third-choice schools flourish, and eventually decide it was the best place all along.”

“Survey Says…”

Because the survey question about “first choice” was new this year, evidence of any trend is still to be collected. Guess we’ll wait patiently for UCLA’s future surveys before we have any conclusive trends taking shape.

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