|
the question on what the yield will be this year for ND is not just for ND, but for most of the private elite colleges , with the exception of HYPSM, with their very generous aid.
I was struck by the comment from the ND admission officer, Mundy, that decisions to go to ND were going to be decided at the last minute.....consumer psychology tells us the longer a person needs to make a decision, the more it will be negative (and also more buyer's remorse when a person decides to buy). So all the indicators are there for a significant drop in yield, they accepted more students. the % of more applicants was only 3% (even with the common app), they accepted more kids EA. This was not a good year for ND's admission cycle.
So I think parents are watching the stock market and financial news , reading that 30% of graduating ND seniors don't have jobs (as quoted in ND Magazine this week....but this number is probably the same or worse with all of the private and public schools). If we see further financial shocks, like GM filing for bankruptcy, will lead parents to push for the in state public "safe" choice.
ND's business model is that parents will need to take on debt and that kids's will need to take on about $20K in debt....and with consumer borrowing already being down substantially, will parents and kids really borrow to pay a $120K 4 year difference?
Kids can always transfer in next year, ND's acceptance rate is 38% for transfers.
I just hope this gets ND to understand that typically college costs have gone up 435% versus 95% for CPI since 1982, so this is not sustainable.
|