The cost of college is a huge factor for a high school senior about to head off to college for the first time, a transfer student getting ready to continue his or her education at a four-year school and an undergrad preparing to pursue a graduate degree. If the student can’t afford to attend a specific school, an alternate institution that better fits his or her college budget should be selected...but what if tuition is still undetermined before the enrollment deadline?
This scenario is common at public universities across the country, as they cannot announce the next year’s tuition until they know how much funding they will receive from their respective states. Though schools like Towson and UVa offer estimates, banking on those figures is a gamble: For example, VCU raised tuition 24 percent in 2010 and the average public university in California raised expenses 21 percent last year – sizeable increases few college hopefuls could have expected. Colleges in this position have to work out preliminary financial aid packages based on the current year’s costs and adjust the awards after tuition is set. Students weighing their enrollment options at private universities have it much easier: A recent report projected private tuition would rise between 4 and 5 percent for next year but schools including Georgetown, UPenn and Goucher have already set and posted their tuition rates for the upcoming academic year.
Are you still waiting on next year’s tuition rates to make your college choice?