<p>The number of private colleges that claim to cover 100% of demonstrated financial need (about 60) is greater than the number of states with public “flagship” universities. All of these private colleges are selective, but some of them are less so than Berkeley, UVa, or Michigan. A number of other selective private schools don’t claim to cover 100% of demonstrated need, but on average do cover more than 90% of demonstrated need. They tend to be less selective than the “full need” schools.</p>
<p>Consider a family with the median US family income, about $54,000.
According to Ohio State’s NPC, an Ohio resident with that income would pay an estimated $16,778
(assuming the family has only 1 child and no home equity.) A resident of another state with a 1400 M+CR and top 10% class rank would pay an estimated $21,544 (after merit aid including the Buckeye scholarship). However, a student from any state with that family income would pay an estimated $12,863 to attend Oberlin College. Oberlin is stateuniversity.com’s top-ranked college for the state of Ohio. </p>
<p>Oberlin is one of the ~60 schools that claims to meet 100% of demonstrated need. Kenyon is not, and is somewhat less selective than Oberlin. According to Kenyon’s NPC, a student with this family income (and the same assumptions) would pay an estimated $10,570 to attend Kenyon (after grant aid, but before any “self help” aid). Kenyon is stateuniversity.com’s #3 college for the state of Ohio. </p>
<p>Ohio State is relatively low priced for an OOS student with good stats, due to the Buckeye scholarship and other merit grants. Consider the University of Colorado for a median-income family. According to CU Boulder’s NPC, a CO resident with that income would pay an estimated $18,354 (assuming the family has only 1 child and no home equity.)
A resident of another state (regardless of stats) would pay an estimated $46,396. According to the Colorado College NPC, a student with this family income (and the same assumptions) would pay an estimated $9,820 to attend Colorado College (after grant aid, but before any “self help” aid). If your family income were double the national median ($108K), you would pay an estimated $20,900 to attend CC (less than half Boulder’s OOS rate, and still fairly competitive with Boulder’s in-state costs). Colorado College is not one of the ~60 “full need” schools. It is stateuniversity.com’s #1 college for the state of Colorado.</p>
<p>By definition, half of US families have incomes lower than the median ($54K). So for at least half of all families, if your children are very good students (not necessarily tip-top students), it is fairly likely that you can find a private college with much lower net costs than many OOS public universities. In some cases, they will have lower costs even than your in-state public university. The richest, most selective schools (Ivies, etc.) may have lower net costs than your own state flagship even if your income is double to triple the national median. </p>
<p>In any case, spend a few minutes with the Net Price Calculators to build your own estimates. Your state flagship may well offer the best bang for the buck in your own situation.</p>