{"id":3811,"date":"2016-09-16T10:32:28","date_gmt":"2016-09-16T10:32:28","guid":{"rendered":"http:\/\/salishseasciences.org\/blog\/?p=3811"},"modified":"2016-10-05T18:39:17","modified_gmt":"2016-10-05T18:39:17","slug":"ssis-college-spotlight-financial-fit-public-and-private","status":"publish","type":"post","link":"https:\/\/salishseasciences.org\/blog\/ssis-college-spotlight-financial-fit-public-and-private\/","title":{"rendered":"SSIS College Spotlight: Financial Fit \u2014 Public and Private"},"content":{"rendered":"

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SSIS College Spotlight: Financial Fit \u2014\u00a0Public and\u00a0Private<\/span><\/b>
\n<\/b>volume 2, issue 2. Fall 2016<\/span><\/div>\n
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Dear Seniors and Families,<\/span><\/b><\/span><\/div>\n
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Not all state schools cost\u00a0the same and many private colleges publish a sticker price that is\u00a0much higher than\u00a0what the average\u00a0family contributes. This\u00a0Spotlight<\/em>\u00a0focuses on the cost of college\u2014private and public\u2014and how to evaluate the value of each in light of\u00a0your own situation.<\/b><\/span><\/span>\u00a0<\/span><\/b><\/span><\/div>\n
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Please remember that individual ambitions and circumstances as well as the\u00a0policies and endowments of individual schools dictate how any individual financial package is put together and interpreted. Read all college website information carefully and do not be afraid to call a college’s financial aid office\u2014their counselors are available to talk. It’s part of what they are paid to do.<\/span><\/span><\/span><\/div>\n
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As always, take advantage of the SSIS College Counseling office space, the materials you find there, and me!<\/span><\/span><\/div>\n
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Best always,<\/span><\/span><\/div>\n
Caroline<\/span><\/span><\/div>\n
Your College Counselor<\/span><\/span><\/div>\n
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_________________________________<\/span><\/span><\/div>\n<\/div>\n
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\u00a0COLLEGE IS REALLY EXPENSIVE OR WHAT?<\/b><\/span><\/div>\n
Short answer: yes. Longer answer: “sort of and not necessarily.” It all depends…<\/span><\/span><\/div>\n<\/div>\n<\/div>\n
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\u00a0The trick: which, where, what, who, why.<\/b><\/span><\/div>\n
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Colleges are non-profit institutions that are either funded publicly\u00a0or privately (we are ignoring for-profits: perhaps there are some that are valuable, but many\u2014if not most\u2014are scams). State-funded schools, despite dollars from boosters and patent dividends from research, depend largely on state tax revenues and politics. Private institutions rely on tuitions, patents, and donations. As a rule, they enjoy\u00a0greater discretion, but can experience\u00a0their own financial challenges, often depending on their size, location, corporate sponsorships, alumni network, and length of existence. Some schools, such as the Ivies, are fortunate to have grown\u00a0large endowments over time that make it possible for them to offer students financial packages that are competitive with local public institutions. A\u00a0great student from the San Juan Islands can attend\u00a0MIT, Amherst, Brown or Swarthmore for the same price or less than the cost of Western, Central, Eastern, WSU, Evergreen or the UW.<\/span><\/div>\n
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\u00a0PUBLIC\u00a0INSTITUTIONS<\/strong><\/span><\/div>\n
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\u00a0WHICH<\/strong>: <\/em><\/strong>State schools tend to fall into two categories,\u00a0internationally competitive\u00a0research universities (University of Washington<\/a>) and regional schools (Western<\/a>, Central<\/a>, Eastern<\/a>, Washington State<\/a>, and\u00a0Evergreen State College<\/a>). Each has its own culture, academic strengths and admissions criteria\u2014all\u00a0have a mission to serve students whose families contribute to the state tax base, and all\u00a0are competitive with national and world measures for\u00a0distinction. <\/span><\/div>\n
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\u00a0Did you know?<\/em><\/strong>\u2014Eastern is\u00a0part of a\u00a0nationwide program that brings undergraduates\u00a0together annually at a research conference\u00a0sponsored by\u00a0the Council on Undergraduate Research<\/a>. WSU is noted for an exceptional record<\/a> in many faculties, including teaching, communications,\u00a0and pre-veterinary medicine. Western offers small class sizes, has a global focus, is recognized for being green, and is first among mid-sized universities for\u00a0students joining\u00a0the Peace Corps. The Evergreen State College is part of the national Colleges That Change Lives<\/a> consortia, Central is highly ranked for excellence and affordability, and its students and departments regularly\u00a0achieve\u00a0national recognition. And, the University of Washington ranks globally at\u00a0#11 overall and #3\u00a0for public universities (2015).<\/span><\/div>\n
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\u00a0What do state schools cost?<\/em> <\/strong>Tuition, room and board, student fees, books, and incidentals add up, but state school sticker prices for in-state students are the best deal you can get. For example<\/em><\/strong>: full price at Central<\/a> comes to just under\u00a0$22,000 a year (2016-2017). Good grades and scores can bring down the cost, financial need can bring down the cost, department or region specific scholarships can bring down the cost, ethnic or\u00a0first-generation status can bring down the cost. CWU, like many other colleges and universities, offers a host of merit and need-based scholarships and grants as well as opportunities for work-study. By the time you have exhausted all\u00a0merit and need-based options, Central can become\u00a0increasingly affordable.<\/span><\/div>\n
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\u00a0What about the\u00a0UW?<\/strong><\/em>\u00a0The published total cost per year comes in at just under $26,000 (2016), It is the most expensive of the (heavily subsidized!) Washington public institutions, but the UW\u00a0also offers the Husky Promise<\/a>, a promise that\u00a0full tuition and standard fees will be covered by grant or scholarship support for eligible Washington state students. Work study and other grants and scholarships can help with room and board. The University of Washington is among a select group of\u00a0public universities that has agreed to the terms of the Coalition for Access and Affordability<\/a> to meet the full demonstrated need of every student accepted.<\/span><\/div>\n
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\u00a0WHERE:\u00a0<\/strong>Western Undergraduate Exchange\u00a0(WUE)<\/a>\u00a0universities make it possible to attend public\u00a0institutions in neighboring western states for the same or competitive\u00a0price\u00a0as schools in one’s own state. For some students, this is very important. If, for example, you hope to specialize in southwestern or mayan\u00a0archeology, you would do well to research schools in Arizona and take advantage of their WUE membership. Here is a list of WUE\u00a0schools offering 4-year degrees<\/a> and a 2015 list itemizing WUE cost\u00a0savings<\/a>. California State schools are included\u2014for example, California State Polytechnic University, Pomona\u2014but, unfortunately, not the University of California schools. These, like other selective public research universities across the nation, charge out-of-state tuitions comparable to private universities\u2014it is one way they work to make up the gap between their actual cost and their tax-based revenues\u00a0and in-state tuitions.<\/span><\/div>\n
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\u00a0WHAT, WHO, WHY:<\/strong> This is the part where you have to know something of your own ambitions, learning style, preparedness, and so on. What<\/em><\/strong> depends on what you want to study and therefore which schools offer you the best programs. Who<\/em><\/strong> depends on who you are: are you driven to take advantage of a everything a large university has to offer or would you do better in an undergraduate-focused program that stresses close collaboration with professors and colleagues? Consider also whether you should work with specific area specialists. “Who” also goes to how prepared you are to qualify for merit-based or department-based aid.\u00a0Why<\/em><\/strong>? Money matters\u2014you want to get a 4-year degree with no loans (or so low in amount\u2014and preferably without interest\u2014so as to be able to pay them off very quickly).\u00a0The object is to find the most appropriate\u00a0educational fit for your future that you actually can afford.<\/span><\/div>\n
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\u00a0As a financial matter, be clear<\/em><\/strong>: in comparison with private schools most state schools cost less to\u00a0begin with because they are already supported by significant tax dollars. Reducing the cost further can be tricky, especially if you do not qualify for a Pell grant or other federal aid. State schools just don’t have as much financial leeway. Private schools are more expensive\u2014sometimes a lot more. Their value cannot be understated\u2014many can offer scholarships and grants\u00a0that will provide you with tremendous, personalized educational opportunities, support, and services. Figuring out which schools offer what and how they make themselves affordable is key.<\/span><\/div>\n
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\u00a0PRIVATE\u00a0INSTITUTIONS<\/strong><\/span><\/div>\n
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\u00a0Private schools fall into several categories<\/em>:<\/strong> national, regional, religiously-affiliated, members of various academic or regional consortia or partnerships, and Coalition for Access & Affordability members. National private colleges and universities draw students from everywhere and award degrees in over 50% of liberal arts disciplines. They\u00a0are generally quite competitive. Regional institutions also can be quite competitive, but they offer fewer graduate degrees\u00a0and more than 50% of their undergraduate degrees are in areas not traditionally recognized as liberal arts. Many religiously affiliated schools welcome students of all beliefs and backgrounds.\u00a0Consortia members and those with partnership\u00a0arrangements between\u00a0schools enhance learning opportunities and tend to have national reputations, and Coalition schools share a pledge to meet 100% of demonstrated need.<\/span><\/div>\n
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\u00a0Consortia members or those schools with partnerships can be very attractive, sometimes these are called:<\/span><\/div>\n