Selecting a college is a nerve wracking and exciting experience. Most college students have an idea on their top choice college- the school of their dreams. Many things go into the equation that makes a school top choice: campus environment, proximity to home, best value, athletic programs and overall reputation, to name a few. Whatever the reason, getting an acceptance letter from a top-choice school is an amazing moment in a student’s career.
However, recent data collected by Royall & Co. (enrollment management and alumni fundraising arm of the EAB), noted that one-fifth of students who were accepted into their top-choice college declined the offer due to cost. Additional students who turned down the offer cited cost-related reasons such as financial aid and not enough need based scholarships.
So, what do colleges do to combat the rising cost of education? Tuition discounting isn’t always a good idea, or even a possible one. A recent article posted in Inside Higher Ed gives some suggestions based on data and research, including merit based aid, marketing financial aid at your institution and the importance of a value proposition.
Read the full article here to learn more about suggestions on combating the cost-related reasons your top students turn down their first-choice colleges.