Private Colleges Can Be a Better Deal

In today’s Houston Chronicle Tammy Vo, a freshman at University of St. Thomas in Houston, says that St. Thomas “proved a better deal than most public schools” she applied to because of the financial aid they give her. Next year St. Thomas, a Catholic college, will raise financial aid by $250,000 or more. This is one way that private universities are trying to stay competitive in today’s tighter economy.

Other universities are cutting faculty, freezing jobs, and admitting more students in an attempt to make sure that their classes are filled in the fall. This is good news for cash-strapped parents who are worrying about sending their children to college. To help students pay tuition and expenses, colleges are cutting their expenses and digging deeper into their endowments.

The important message for bargain-hunters is that you need to look at the bottom line when comparing colleges, because private universities give out lots of financial aid. This is especially true with smaller, lesser known colleges like University of St. Thomas.

Parents shouldn’t tell their children that they will be able to go to any college they are admitted to, unless the parents can afford the school without financial aid. However, they should encourage their children to apply to private colleges that might try harder to get them to attend by giving them the financial aid they need to make that a reality.

COMING SOON:“The Secrets of Financial Aid” – an ebook with all the secrets I’ve discovered in my comprehensive research of the subject. Make sure you’re on my email list, so you can get a copy as soon as it is released. Just fill in the boxes on the right hand site of this blog. You’ll also get a free copy of the ebook “A Parent’s Survival Guide to College” by insider Neil P. O’Donnell, academic advisor and professor at a private college in NY.

Blessings,
Bonnie