Many students and their parents have a firm belief that it is less expensive to attend an in-state college or university rather than an out-of-state school. Traditionally, state universities charged out-of-state students a higher tuition amount. However, this is no longer the case and it may in fact be more affordable for your student to attend a college out-of- state than within the local university.
A Changing Trend
The U.S. Department of Education just released a report that shows out-of-state tuitions at public colleges and universities are actually lower than the tuition changed to in-state students. The report showed the average tuition and fees, for full-time undergraduates, for the 2010-2011 and 2012-2013 academic years, was 6.7% higher for in-state students compared to out-of-state ones. On average there was a $9,878 difference.
Why the Difference?
As I have shown in previous articles, for the last five years states have decreased their spending on public colleges and universities. This has resulted in significant increases in tuitions and fees across the board. As the fees moved higher for out-of-state students, the schools began losing those students as well as potential students. The competition for out-of-state students has heated up and in order to attract students the tables were turned.
These Schools Tried Everything
Without public support, the schools sought out creative funding sources. Some schools are now selling the naming rights to their buildings and sport arenas as a way to raise money.
This new trend is not just limited to public universities. The same report also showed how for-profit colleges have also reduced their costs by 2.2% to $15,386 for 2012-2013 school year.
As you can see, determining the best value for your student is not as easy as just staying within your state boundaries. Rather, a college bound student must evaluate all aspects of what a school is offering in their financial package. What this means is there's is a good possibility your student could end up attending a top-level university for a cost that far less than going to the local state university.
My goal for your student is to help them find the best possible fit in a college or university which is also comes at the right price. There is no reason your student can’t have the best of all worlds. Come find out more about the hidden secrets and give your student the best chance of success by attending my next FREE workshop. Sign up now!