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> To be clear, it is not going to cost Mirza $71,000 to go to NYU. That figure is just a really detailed sticker price that doesn’t include financial aid discou
by bko 12y ago
> To be clear, it is not going to cost Mirza $71,000 to go to NYU. That figure is just a really detailed sticker price that doesn’t include financial aid discounts, like the $24,000 scholarship she received from the school. Mirza said her family had already prepared to take out a $10,000 loan to cover some of the difference, but whether she can pay the bill is not the point she says.
This was buried in the 5th paragraph. When reporters quote statistics about the rising cost of tuition they usually refer to sticker price rather than prices that students actually pay. Makes for better headlines I suppose.
Not sure if the source is biased but:
On average, net tuition and fees for private nonprofit four-year institutions are lower in inflation-adjusted dollars in 2013-14 than they were a decade earlier — $12,460 versus $13,600. However, average net price has increased from $11,550 in 2011-12 to an estimated $12,460 in 2013-14.[0]
[0] https://trends.collegeboard.org/sites/default/files/college-pricing-2013-full-report-140108.pdf https://trends.collegeboard.org/sites/default/files/college-...
- Dylan16807 12y ago>When reporters quote statistics about the rising cost of tuition they usually refer to sticker price rather than prices that students actually pay. Makes for better headlines I suppose. Keep in mind that sticker price is often significantly less than the actual price, depending on the school.
- sytelus 12y agoThat's exactly the question I'd. My impression was that most people enrolling at top 100 or so colleges don't pay much of tuition out of the pocket because they get funded via combination of financial aid, loan and campus jobs. Is the situation totally different at middle-of-the-pack colleges? Average student loan in US is about $25K and that seems fairly manageable[1]. I believe high sticker price is just a way to do tiered pricing by universities so that rich people pays the max possible amount. There are lot of parents actually doing double jobs so they do 509 college funds and I always question them why you really need it? 1 - http://www.fool.com/investing/general/2015/01/24/the-average-american-owes-this-much-in-student-loa.aspx http://www.fool.com/investing/general/2015/01/24/the-average...