US Economy Affects College Students … and CollegesTweet
The struggling US economy is affecting not only college students with tighter budgets, but also the colleges who now have to deny them admittance because they need too much financial aid.
The issue was highlighted in a recent New York Times article about Reed College. After piecing together their ideal freshman class, the college in Oregon was forced to deny admittance to more than 100 financially-needy students and replace them with students who could afford the tuition.
To make matters worse, tuition at Reed College (like colleges across the country) is rising. In fact, tuition at the small private college rose 3.8 percent to almost $50,000 a year, according to the Times. When Reed turned to its wait list, only students who could foot the bill got good news.
Reed College hopes the economy is only a temporary barrier for the school and its applicants. But no one really knows.
That’s why it’s more important than ever to carefully consider how many colleges you should apply to.
Some things don’t change. No matter the state of the economy, you still should weigh the academic and social offerings when choosing a college. Just remember to be realistic about your budget and the cost of a college education.
By all means apply to a college you would love to attend but whose tuition is a bit out of reach. You very well could earn enough scholarships and financial aid to make your dream a reality.
In this economy, however, it’s wise to leave yourself with some options. Apply to colleges that are firmly within your budget as well.