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Affordable for Students and Families
Americans understand that private colleges generally offer higher quality
education than state universities, but cost perceptions are a major factor
driving students toward public institutions. In a national survey led
by former college president Richard Hersch (Change, March/April
1997), more than a third of parents reported that a liberal arts education
was "a luxury beyond their reach." Yet independent colleges
and universities are affordable for a wide range of students, because
of the availability of significant financial assistance and the ability
to complete degrees more quickly.
- Perceived Value
More Americans would choose to send their children to a private
college, but when it comes to actual matriculation, most students enroll
in public institutions because of the perceived difference in affordability.
- Financial Assistance
An independent college education is affordable to students
of all family incomes, with a wide variety of federal and state grants,
institutional grants, work-study, and loans available. Students from
all family-income levels are just as likely to attend private colleges
as public universities.
- Timely Degree Completion
Graduates of independent colleges are much more likely than
public university graduates to complete their degree in four years,
enabling them to finish paying tuition and start earning a salary sooner.
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