April 15, 2008

College Costs How Much?

It's true what they say in many cases: you get what you pay for. A friend recently told me that the cheap deoderant I had just bought will really end up being more expensive for me because . . . well, because it wasn't working. So I will, obviously, have to go back and purchase a better product. But, is this the case with colleges and universities? I'm not so sure. As recently as 2003, George Washington University could not be found on any of the various (albeit extremely similar) Top-10 lists for "Most Expensive" college in America. In fact, the most expensive, ‘traditional’ university in America, according to CNN Money in November, 2003, was the $30,824 per year tuition at Sarah Lawrence College (a phenomenally creative and academic place to be, for sure). However, Sarah Lawrence now takes the backseat to our reigning champ from Washington D.C. at a staggering $39,240 per year . . . and that's JUST tuition. The total cost of a year's education at G.W. tops the $50,000 mark. And you want to know something? Since they first made the top-10 list in 2004, George Washington has received a drastic increase in the number of applications to their undergraduate programs. So, it's working for them, right? They raise tuition costs and more people apply. It seems that families who desire a G.W. education cannot be out-priced- nor are they alone. Though G.W. still receives fewer freshman applications than, say, Harvard, Stanford, Yale or Princeton, would it be fair to assume that with the rise in cost of a G.W. education and the fact that their applicant pool has increased with it, that they WILL continue to raise their tuition rates on a yearly basis? Wouldn't you?

Until they hit a boiling point where the tuition rises to a level that actually deters applicants, resulting in fewer applications to the University than the year before, they have no reason to halt the tuition increases. So, while many people are up in arms about the rising cost of tuition for both public and private universities in this Country (especially Congressmen and women, some of whom, I’m certain, have paid staggering tuition bills themselves), it seems that our actions are speaking louder than our words. Ponder with me one point: Why is it that when gas hits a certain price, the sale of hybrids start to increase exponentially. But when costs of higher education begin to rise to these levels, which, as recently as 5-10 years ago were considered unrealistic, applications increase and faux-status (rankings) builds right along with it. I would warn anybody from using the various annual lists of top universities as a starting point in their research on where to apply (or a middle or ending point, for that matter). Even though paying attention to statistics such as faculty:student ratio is valuable and can be found in these rankings, when applications seem to go up in number as in correlation to tuition increases, it's no wonder some universities take their rankings so seriously. Are universities not run as for-profit businesses these days?

I do not intend to tell anyone how or where they should spend their money. I just wish to take contention with the notion that college cost is a direct relation to classroom quality. Universities cannot outbid their counterparts for tuition increases as a sign of true academic strength. However, it seems that, perhaps, we are falling for the old adage: you get what you pay for. And in this case, I’ll be the first to say, you’re paying too much. I realize that intelligence IS invaluable and our education is the only thing that can never be taken away from us. In fact, this is a statement of fact that I am constantly espousing to my students and their families.

So, please be prudent and conscious when shopping for an education. I am not saying that it should be cheap. Heck, one of the cheapest public systems of higher education is the State of Florida’s and, because it’s so cheap, the whole system is floundering on the brink of bankruptcy. This is not a scenario that a student wants to find him/herself in halfway through their undergraduate education: program cuts; larger class sizes; hiring freezes, etc . . . At the same time, just because a school is one of the most expensive universities does not guarantee anything other than . . . it’s very expensive. There is a whole spectrum of schools out there. Look at publics that are in and out-of-state, as well as privates on both coasts and, of course, in between. Remember, just because you can (spend the money) doesn’t mean you have to. And, just because it’s the most (expensive) doesn’t mean it provides the most.