Take Advantage of Colleges That Are Discounting Tuition
Updated: Oct 10, 2020
This WSJ article confirms CPC’s philosophy of using data to ensure that students balance their college list for admission and financial parameters. Our takeaways:
Class of 2021 Applications - Depending on the # of Class of 2020 students that commit with tuition payment this summer vs. a COVID gap year, there may be a larger pool of students applying for the 2021 cycle.
School Type: Traditional Private College – In this article, the significant discounts mentioned were primarily private colleges that accept >50% of students. See our bucket list of quality traditional private schools that are generous with merit scholarships.
Financial Need vs. Merit – More selective schools are likely to reassess need grants vs. merit scholarships. Bill Conley, Bucknell’s VP for enrollment management states, “…those with the technical ability to pay are increasingly questioning their willingness,”
Parents should estimate their EFC now to understand if they might be eligible for need grants, based on the school’s cost of attendance. A $50,000 EFC may still allow for a grant if the selective school meets 100% of need, and the cost of attendance is $70,000. However, selective schools referenced in this article are not currently showing the discounting that the traditional smaller private colleges offer.