Tuesday, May 18, 2010

Comparing College Tuitions

Tuition can be a deciding factor in where to go to college.


When you are researching different colleges or trying to decide which one to choose, cost of tuition can be a big factor. It can vary considerably at different types of institutions. As of 2011, the annual cost of tuition at a community college was about $2,700, while a private four-year university was around $27,000. Sticker price says a lot, but a number of other variables might also factor into the cost of your college education.


Instructions








1. Use online tools like the "College Navigator" at the National Center for Education Statistics website or "College Search" at the College Board website to narrow down your college search. You can compare and sort colleges by tuition and a number of other factors.


2. Examine and compare the sticker prices from the institutions in which you are most interested. Note that you might not be comparing "apples to apples." Many institutions charge by the credit hour, and different programs will require a different number of credit hours to graduate. Thus, while the published price of College A might look less expensive than College B, it could actually be more because College A requires more credits to graduate. Look on individual college websites or talk to the admissions office to determine which option works better with what you want to do.


3. Determine whether financial aid affects the price for you. You might qualify for scholarships and grants at one institution but not another. This process might be difficult to measure if you have not applied to the colleges yet, but discuss your options with their financial aid offices. They will probably direct you to apply for the Federal Application For Student Aid (FAFSA) if you have not already done it.








4. Examine how other costs outside of tuition might affect the overall cost of your education, particularly transportation and housing. College A might charge less for tuition than College B, but if College A is a considerable distance away and College B is close to your parents' home, College A could end up costing you more because of the price of housing or commuting. Some colleges require that you live on campus, while others permit you to have a choice.

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