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Carthage to reduce tuition from 45K to 31K

psblstnrpsblstnr 188 replies10 threadsRegistered User Junior Member

Replies to: Carthage to reduce tuition from 45K to 31K

  • twoinanddonetwoinanddone 22989 replies17 threadsRegistered User Senior Member
    edited September 18
    Cosmetics.
    For returning students, very little will actually change. Tuition will be reduced for the 2020-21 academic year, and your financial aid package will be adjusted in line with the new tuition. You and your family can expect to pay the same net tuition price as you would have paid without the reset — what you’re paying this year, plus the annual tuition increase for inflation.

    Those who might benefit the most are those current full pay/no need based FA students. Their cost will go down 30%.
    edited September 18
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  • barronsbarrons 23047 replies1953 threadsRegistered User Senior Member
  • twoinanddonetwoinanddone 22989 replies17 threadsRegistered User Senior Member
    edited September 18
    delete
    edited September 18
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  • ucbalumnusucbalumnus 78242 replies690 threadsRegistered User Senior Member
    Seems like almost everyone (98%) at Carthage gets some kind of grant or scholarship aid. Could be that relatively few students are actually paying a net price higher than $31k + room/board.

    https://carthage.studentaidcalculator.com/ suggests that a student with a 2.9 GPA, 20 ACT score, and $99,999 FAFSA EFC will see a net price of $31k, after $24k scholarships and grants subtracted from a list price of $56k ($44k tuition + $12k room/board).
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  • cypresspatcypresspat 330 replies8 threadsRegistered User Member
    This is a trend. At a certain point, the proportion of potential applicants who feel that a school is overpriced (based on its brand) gets too high. Many, many colleges are seriously considering a list price reset right now.

    Difficult thing to do well. Must not communicate to market that quality will suffer or that the school is in trouble.

    The elite schools have benefitted from the constant tuition increases, and they are the ones which could really make a difference in the market by ‘stopping the madness.’ But they won’t as they benefit from the current (but unsustainable forever) business model.
    Most parents do not understand the notion of discounting nor leverage it properly. And most equate high price with educational quality and are way too in love with saying their kid got a ‘scholarship.’

    The market size and demand continues to shift (bad for non-elite private colleges). Once this picks up pace and parents grow used to it, will accelerate.

    On the flip side, colleges are getting better at cost control and understanding what it really costs to provide a quality college education. That was a long time coming.
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  • bjscheelbjscheel 543 replies5 threadsRegistered User Member
    One of my alma maters just did this. It was all over Facebook with people who were whining about what about the kids who just graduated, or why were they previously $20,000 overpriced, or this is so wonderful of them to do...

    I pointed out that nothing really changed. My DD'17 had applied there and with $24,000 scholarship would have had a net price of $24,000. Now with the tuition reset and the new $4000 scholarship, her price would have been $24,000. On one hand yes it's cool to say you were given $96,000 scholarship (and they do take it times 4 in your award letter for maximum effect). On the other hand the college got a lot of publicity there for a little bit.

    I guess it's good for those who are full pay (but with my DD having a 25 ACT and getting second highest scholarship I doubt there are many not getting a scholarship) or who might be in danger of losing scholarship due to GPA.
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