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Attending a private college may be more affordable than you think


Friday, June 29, 2012
As you conduct the college search, you may find that the cost of tuition is often a deciding factor on whether or not you apply to a particular school. Many students look at the cost of private schools and immediately reject the notion of applying simply because they do not think that they can afford it. Instead they focus on public schools that they believe will be more affordable.

For many students who are worried about the cost of college, choosing a state school over a private college just makes sense. The U.S. Department of Education’s College Affordability and Transparency Center states that the national average for public, four-year universities is $6,669 per year, while the average cost for a private, not-for-profit, four-year college is around $21,949 per year.

However, despite the difference in these averages, state schools are not always the cheapest options. In some cases, students may even find a private college that is more affordable for them than a public university.

While the sticker price for many private colleges may be quite high, students need to consider the adjusted cost after the financial aid package is applied to the total cost.

According to the Federal Student Aid Web site, this package may include funds from Federal Pell Grants, Federal Stafford Loans and Federal PLUS Loans that can drastically bring down the cost of tuition. In addition, many private colleges often have large endowments and alumni contributions making these schools better equipped to offer larger scholarships than their public counterparts.

If you research all your financial aid options, you may be pleasantly surprised to find that a private college education is within your reach.ADNFCR-16000756-ID-800809722-ADNFCR

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