Trends and Articles

15 Colleges Offering Tuition Discounts

A growing number of private colleges and universities are offering discounted tuition and other ways to save.

By ANNAMARIA ANDRIOTIS from SmartMoney.com

To attract students and families turned off by the potential for six-figure tuition bills, a growing number of private colleges are taking a page out of the retail playbook: They are cutting their prices.

Most recently, Seton Hall University announced that it would offer tuition discounts of up to 66% for academically qualified students, joining more than a dozen schools across the country that have announced similar programs in the last few months. Some schools, like Seton Hall, are offering straight-up tuition discounts for qualified students. Others are rolling out three-year degree programs that allow students to, effectively, cut their tuition bills by 25%. Still others are guaranteeing tuition won't rise while a student is in school. The most generous of the programs can whittle the price of private college -- $27,000 per year -- to less than $10,000.

For many of these schools, the discounts and breaks are part of an effort to raise their national profiles and to attract a broader pool of applicants. Selectivity and acceptance rates are an important part of national college rankings -- the more students apply, the lower the acceptance rate, the better the ranking. And the schools that peg their discounts to academic performance are also potentially raising the quality of their incoming freshman class, which also factors in those all-important rankings.

At the same time, students and parents have become far more cost-conscious, particularly in recent years. Two out of every three college graduates carries student debt, and a high unemployment rate has made it harder for parents to help, and for students to pay back loans. Colleges say they've been cutting costs all along, but are now ready to try new tactics to lessen the burden for students and their parents. "Some institutions, independent of financial pressures, are saying we want to think in a more creative way," says David Warren, president of the National Association of Independent Colleges and Universities.

Of course, the discounts still don't make private colleges particularly affordable -- at least, not compared to in-state public school tuition. At an average cost of $7,600 per year, that may still be the more financially sound move for some families, says Rod Bugarin, a former financial aid officer at Brown and Columbia universities. There can be other drawbacks, too: If a student doesn't stay academically eligible for a discounted program, costs may spike; accelerated degree programs can mean extra nights in the library and losing a year of the college experience.

Here's a rundown of the new tuition discounts and deals private colleges are rolling out.

Tuition Discounts

Some schools are cutting the sticker price for all students or offering discounts to specific groups of students, including those who are academically qualified or in a particular major.

Bluefield College
Bluefield, Va.
Tuition and fees*:$15,360
Discount: This year, working adults who return to school to complete a degree in the school's "inSPIRE" program qualify for a 25% discount, bringing tuition and fees down to $11,600 annually.

Duquesne University
Pittsburgh, Penn.
Tuition*:$26,400
Discount: Starting in the 2012-13 academic year, the university will offer a 50% discount on tuition and fees to freshmen who enroll in its School of Education. The discount will be in place for all four years the students are in the program. Education majors will pay about $14,000 less next year than students in other majors.

Sewanee: The University of the South
Sewanee, Tenn.
Tuition:$32,020
Discount: The school approved a 10% reduction in tuition and fees across the board for the 2011-12 academic year.

Seton Hall University
South Orange, NJ
Tuition:$31,440
Discount: Starting next year, the school will award a $21,000 discount for early applicants who graduate in the top 10% of their high school class and score at least 550 on the math portion of their SATs and at least 550 on the reading portion or an ACT score that's 27 or higher.

*Except where noted, tuition figures include tuition only for a full academic year. Data from schools' publications and the National Association of Independent Colleges and Universities.

Three-Year Degree Programs

By offering an accelerated program that allows students to to graduate in three years, colleges essentially give students the opportunity to cut their bills by 25%. For the discount, students trade another year of the college experience.

Grace College
Winona Lake, Ind.
Tuition:$22,500
Discount: Starting this year, the college will offer a three-year degree in more than 50 areas of study. The school estimates the amount of money the students will save on tuition, plus what they'll earn by entering the workforce a year early, will lower the overall cost of college by around 50%.

Lesley University
Cambridge, Mass.
Tuition:$30,170
Discount: As freshmen, Lesley undergrads can declare their intent to graduate in three years, but they must still complete 120 credit hours (the same as for a four-year degree). To do so, a student would probably end up paying for summer classes or more than 18 credits per semester, but the discount would still be considerable.

St. John's University
Staten Island, N.Y.
Tuition: $33,125
Discount: This year, St. John's launched a three-year degree program at its Staten Island Grymes Hill campus. The annual cost is higher than the cost for four-year students ($38,500 compared to $33,125), but the overall savings is about $17,000.

Tuition Guarantees

The cost of tuition has increased on average by 4% each year for the last three years. That means families' costs continue to rise as a student moves from being a freshman to a senior. Now two colleges have announced programs to freeze tuition costs for incoming freshmen.

Columbia College
Columbia, Mo.
Tuition:$16,532
Discount: Tentatively set to begin in the fall of 2012, the college has announced a new tuition plan that will keep the tuition a freshman student pays unchanged for five years.

St. Mary-of-the-Woods College
Terre Haute, Ind.
Tuition:$26,872
Discount: Starting this year, this women's college guarantees that tuition for incoming on-campus students will be the same for four years. That tuition will still go up for the class of 2015 -- this year tuition costs $26,872, about 7.2% higher than what returning students paid this year.

Four-year Graduation Guarantees

These colleges say they'll waive tuition costs for students who need more than four years to graduate.

Baldwin-Wallace College
Berea, Ohio
Tuition:$26,400
Discount: Starting next year, the school will roll out a "four-year graduation guarantee" program: For eligible undergrads who don't graduate within four years, the school will cover the cost for the extra time they need to finish coursework.

Midland University
Fremont, Neb.
Tuition:$23,364
Discount: Starting next year, incoming full-time freshmen who meet certain requirements, including declaring a major by the beginning of their sophomore year and maintaining good grades, are guaranteed to graduate in four years. If it takes them longer, the university will cover 100% of the tuition and fees for as long as the student needs to complete his degree.

Randolph-Macon College
Ashland, Va.
Tuition:$31,400
Discount: Starting this fall, the college guarantees that eligible full-time freshmen with good grades will graduate within four years. If not, the college will waive tuition costs for courses needed to complete the degree.

Public University Tuition Match

Northland College
Ashland, Wis.
Tuition:$25,725
Discount: To compete with public colleges, Northland will lower its costs to match the cost of the "primary public university" of the student's home state. To qualify, high school students must have a B average or better and come from a family with an annual income of less than $150,000.

The National Association for College Admission Counseling (NACAC) annually surveys member colleges and universities to see what admissions factors figure most prominently into admissions decisions. Although grades and strength of curriculum always come out on top, other variables like class rank and standardized test scores change over time.

For example, the proportion of colleges rating “demonstrated interest” as considerably important has risen dramatically from 7 percent in 2003 (the first year in which it was measured) to 23 percent in 2010. And the factor showing the greatest decline over time is class rank, which dropped from 42 percent in 1993 to 22 percent in 2010.

This year, colleges ranked the following factors as having “considerable importance” in the admissions decision (keep in mind that the survey is slightly biased toward private colleges which were most likely to respond):

1. Grades in college prep courses: 83.4%
2. Strength of curriculum: 65.7%
3. Admission test scores: 59.3%
4. Grades in all courses: 46.2%
5. Essay or writing sample: 26.6%
6. Student’s demonstrated interest: 23%
7. Class rank: 21.8%
8. Counselor recommendation: 19.4%
9. Teacher recommendation: 19%
10. Subject test scores: 9.6%
11. Interview: 9.2%
12. Extracurricular activities: 7.4%
13. Portfolio: 5.9%
14. SAT II scores: 5.3%
15. State graduation exams: 4.2%

Note that every college sets its own priorities within the framework of individual admissions philosophies. For example, the UVa admissions office focuses on:

• Excellent performance in a rigorous secondary-school program
• Recommendation from guidance counselor and one teacher
• Extra-curricular involvement and honors
• Writing as demonstrated in the Admission Essays
• Results from the SAT I or ACT (with writing)
• Results from SAT Subject Tests (any two; strongly recommended)

Taking the time to understand what a college considers important in the admissions decision will give you a good idea of how well your credentials are likely to stack up against the competition.

Get recommendations that will help set you apart

Tuesday, Nov. 01, 2011

Lee Bierer, Charlotte, NC.

One of the most important parts of your college application isn't written by you - it's the Letter of Recommendation.

Most colleges request or require one or more letters from teachers, coaches and other people who can provide insights into who you are. These letters of recommendation along with college application essays and extra curricular activities form the subjective criteria that help set students apart from one another.

What's the process?

Read the fine print. There is no one-size-fits-all here. Some colleges require one letter from a teacher of a core subject while others will simply suggest sending two letters. Many colleges will provide forms for the recommenders to complete and some can accept recommendations online while others aren't there yet.

Plan ahead. Know your deadlines and make sure to give as much time as possible. Recommended time is two to three weeks before the application deadline. Popular teachers fill their quotas early.

Ask, don't assume. It is important to ask teachers and other recommenders two questions: 1) Are they comfortable that they can write a strong letter on your behalf? A lukewarm letter can do real damage. 2) Can they meet your deadline?

Help them help you. Provide your recommenders with a copy of your transcript and an information sheet, also known as a brag sheet, that details your extracurricular activities, community service involvement, honors, summer experiences, etc.

Simplify the process. Supply teachers and other recommenders with stamped envelopes addressed to the college admissions offices if they are not doing them online.

Who to ask?

Consider your future major. If you are thinking about majoring in engineering, a math or science teacher makes more sense than English.

Evaluate who can help you most. Receiving an "A" in a class or picking your favorite teacher should not be the determining factors. Very often the class where you may have struggled at first and demonstrated your perseverance is a better choice. Teachers in those classes will probably write stronger letters because they will share their perceptions of your work ethic and your contribution to the class.

Follow up

Reconnect with your recommenders. Get back in touch with your recommendation writers a week or so before the deadline to ensure that the letters have been mailed.

Confirm receipt. Follow up with colleges to be sure your application folder is complete. Many colleges now offer online application status checks - be sure to write down your user name and password for each college you are applying to.

Say thank you. Be sure to send a handwritten thank you note to your recommenders once everything is in and let them know the results of your college applications. 


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