College Tuition: Illusions in Financial Aid?
Recently I watched this great movie called “The Illusionist” with Edward Norton, Paul Giamatti and Jessica Biel. Great flick. Lots of smoke and mirrors and a great ending – with a major twist – that you never would expect.
Princeton has received much press, accolades and positive response to its recent decision to freeze tuition next year. What does it all mean in the long run?
According to the article “Keeping (Tuition) Up With The Jones,” written by Scott Jaschik that appeared in the Jan. 24, 2007 edition of Inside Higher Ed, on Jan. 21, 2007 “Princeton University shocked many higher education observers by announcing that it would freeze tuition next year, prompting speculation on whether other institutions would follow. Some experts believe that Princeton’s move could prompt similar decisions from the relatively few private colleges that compete with that university not only for students but in terms of wealth.”
Consider ‘Bad’ May Be ‘Good’
Upon closer examination and according to opponents, the move may not be what it appears. Jaschik wrote that “while experts on higher education have been reluctant to criticize Princeton’s move, a number make the point that its decision – popular with students and generating lots of good press – will most help the wealthiest families.” At first glance it would seem that the school is leading the charge to assist lower-income students’ goal of attaining a higher education. In reality, it may be that it accomplishes little for that demographic, ending up benefiting those who may not readily need the help.
Since I regularly have assumed such actions as Princeton’s (tuition freezes/decreases, etc.) to be positive ones, I often have failed to dig deeper. I heard that the tuition freeze at Princeton was accompanied by a significant increase in room and board. What are we to make of that?
Which Is It?
A school by the name of Grinnell College soon will move its tuition UP to Princeton’s level, conceivably to “make the college more affordable and more equitable for low-income students,” the article said. So, if I understand correctly, BOTH an increase and a decrease in tuition are supposed to somehow benefit students, in particular, those of low income. What should we believe?
Russell K. Osgood, Grinnell’s president, made a very interesting point that causes one to pause and consider. Jaschik reported, “Osgood said that he realizes that many people associate tuition rates with actual cost, and so are quick to applaud a move like Princeton’s and criticize one like Grinnell’s. But he argued for an emphasis on what students actually pay — in which case he said that his college’s tuition increase will be a benefit for low-income students. ‘I believe the focus ought to be on guaranteeing access for people who have need,’ he said.”
Check the Facts and Be Wise
The moral of the story? Dig deep, check facts and see if things add up. The media may position certain events so they appear to be something they are not – in other words an illusion of sorts. And when it comes to financial aid and news relating to college costs, you have to keep on top of things. After all, it is your money and your education that is at stake.
The student loan advisors at NextStudent are helpful and knowledgeable about student loans. They are a trusted source in getting you the appropriate information about your student loan consolidation, student loan options and helping students get the college financing they need. Go to www.nextstudent.com for more information.
Be sure to tune in next Thursday for my next blog on student loan advice.
Student Loan Girl