Some Colleges Now Promoting Value Over Prestige May 25, 2010
Ian Welham finds colleges willing to take on the cost of college
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For a number of years now, publications such as Kiplingers and U.S. News and World Report have been promoting their annual lists of “Best Value Colleges.” Frankly, I’ve always been suspicious of these lists, especially when a college like Harvard makes the “best value” list. Sure, Harvard is outstanding, but really, how can a $52,000-a-year college be considered a bargain?
When you see something like that (and there are numerous other examples), it makes one leery of the entire list.
I remember when my daughters were receiving daily piles of mail from universities trying to entice them, there were very few colleges promoting themselves as bargain choices. “Prestige” and “tradition” were the watchwords, not “value.” Each school would try to out-prestige each other.
But I see now the tide is turning. And in fact The College of New Jersey is laying down the gauntlet with a price comparison chart on its website.
TCNJ lets visitors to its website compare costs vs. almost any other institution. Go to http://www.tcnj.edu/~admiss/value/index.html and pick as many schools as you like: the calculator tells you exactly how much money you’ll save by choosing TCNJ. For example, with a total cost of attendance for in-state residents of about $23,000, the calculator predicts The College of New Jersey will save you $73,000 over Syracuse, $79,000 over Georgetown, and $90,000 vs. Harvard. (All calculations are combined savings over four years.)
It’s rare for a college to so aggressively take on the price issue, and so blatantly call out its rivals. Price has always been the pink elephant in the room that colleges are reluctant to address. In a time when a $50,000+ price tag is considered routine, perhaps we’ve finally reached the tipping point where college can no longer ignore avoid price as an issue.
Other schools such as Hartwick College, Judson College in Alabama, Manchester College in Indiana, and Seattle University are offering three-year bachelor’s programs as a way to reduce college costs.
