Published college sticker prices have indeed been far outstripping the inflation rate for years. Parents and financial professionals, however, aren’t clued into this critical fact: Millions of families aren’t paying retail prices for college.
In reality, when you factor in the widespread tuition discounts that colleges routinely award students, the prices have plummeted.
Take a look at the published prices and the average net price that families actually paid for the 2009-2010 academic year, according to the College Board:
Community college: Published Tuition $2,544; Average Net Price $0
State university: Published Tuition $7,020; Average Net Price $1,600
Private college: Published Tuition $26,273; Average Net Price $11,900
Here’s the Bottom Line: The price breaks that colleges are offering are considerable, which is why your clients should not initially cross any schools off their list because they look too pricey. For many families, the schools with the most outrageous price tags can be the cheapest because they typically offer the best financial aid packages.
Read the full article by Lynn O’Shaughnessy a financial journalist, college consultant, speaker and the author of The College Solution, an Amazon bestseller at http://registeredrep.com/wealthmanagement/collegeplan/true_cost_of_college_0623/?cid=nl_wm