The Recession and College Admissions
April 2, 2009
Earlier this week, we blogged about the recession making getting into a PhD program more difficult for prospective graduate students. Prospective undergraduates are also facing a changing admissions landscape, but the picture for them is more complicated. Articles about colleges' admission conundrums have abounded this week as acceptance letters and financial aid notices make their way to anxious high school seniors.
Top schools with big endowments and generous financial aid packages, such as virtually the entire Ivy League, are facing increased applications and some of their lowest admission rates ever. Meanwhile, other private colleges are admitting more students than last year, and also putting more students on their waiting lists. Many state colleges and community colleges are also seeing increased interest and jumps in enrollment, and schools with limited resources are forced to turn away a larger percentage of applicants.
All of this adds up to a lot of uncertainty for students, and for colleges trying to create next year's freshman class. Many sources are saying it also means increased flexibility for some students in terms of negotiating admission or financial aid at their top choice schools.
Since schools are hurting financially and admissions offices are as nervous as students this year about their decisions, students who are able to pay full freight (either out-of-pocket or through a generous outside scholarship award) may face an advantage getting off the wait list, since several schools admit to considering ability to pay when deciding whether to admit waitlisted students. Students who have received an acceptance letter from their dream school, but have been offered larger amounts of institutional aid from other colleges may also have more options this year. Students in this boat may want to let their favorite private colleges know about their dilemma to see if they can get a slightly better offer. Many schools may be willing to drop a couple thousand extra dollars on you if it will secure your tuition payment.
Posted Under : College and the Economy
, College News
, Financial Aid
, High School
Tags: Choosing a College
, College Admissions
, College and the Economy
, College Search
, College Tips
, Financial Aid
, Private Colleges
, State Colleges