• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • College Financial Aid
    • Financial Aid for College
    • Student Financial Aid Eligibility
    • Student Financial Aid
      • Student Loans for College
      • College Financial Aid 101
      • Need Based Student Loans
      • Financial Aid Forms (FAFSA & College Board’s Profile)
      • Military Student Financial Aid
        • College Benefits for Active Duty Military
        • National Guard Education Benefits
        • College Aid for Military Reservists
        • College Aid for Military Veterans
        • Military Dependent Financial Aid
    • Financial Aid Programs
    • Paying for College
  • Scholarships 101
    • College Scholarships (Overview)
    • College Scholarship Applications
    • College Scholarship Essay Writing Tips
    • Unusual Scholarships
    • Unclaimed Scholarships
    • Free College Scholarship Searches
  • Find a Scholarship
    • Latest Scholarship Postings
    • Student Scholarships by College Major
    • Scholarships for Hobbies and Interests
    • Sports Scholarships
    • Community Service Scholarships
    • Association Sponsored Scholarships
  • Find a Student Loan
    • Private Student Loans
      • Sallie Mae Student Loans
      • PNC Student Loans
      • Charter One Student Loan
      • Wells Fargo College Loan Programs
      • Texas Dow Employees Credit Union Loans
      • SunTrust Education Loans
    • How Do Student Loans Work?
    • Types of Private Student Loans
    • Student Loans to Cover Living Expenses
    • Private Student Loan Interest Rates
    • Graduate Student Loans from Private Lenders
  • Saving for College
  • Site Map

Financial Aid Finder

Your Guide to Maximizing your College Financial Aid

Financial Aid Finder HomePage
You are here: Home / Federal Aid / The Public vs. Private School Debate

The Public vs. Private School Debate

June 10, 2012 By mara

In this current economic climate, families are increasingly “down-grading” their college of choice. Students who had their eye set on a private school are instead picking an in-state public school. Would-be public school students are instead starting their educational careers are the local two-year junior college. (I mentioned this in a post two weeks ago about creative solutions for paying for college.)

It seems at first glace that this “down-grading” is a more than reasonable thing to do when paying for college is a stretch. Just take a look at some of these numbers:

According to the College Board, the average cost for a full year of tuition and fees at a community college was just $2,360. At a public four-year university it was $6,185. And at a private, four-year university it was $23,712.

The question, however, is whether the numbers tell the whole story. In an article at About.com’s Guide to College Applications, Seth Allen, the Dean of Admission and Financial Aid at Grinnell College, argues that since public and private colleges assess need in the same way, the real cost of attendance will be the same.

Financial aid packages at both public and private colleges typically begin with the FAFSA, and the data collected on the FAFSA determines the Expected Family Contribution (EFC). Thus, if a family’s EFC is $15,000, that amount would be the same for a public or private college.

Furthermore, he argues that private colleges often offer more comprehensive forms of student aid.

Public universities, especially in tight financial times, often have fewer resources than private colleges, so they may need to rely more on loans and self-help as they attempt to meet a student’s need. Students should look carefully at how much debt they are likely to have when they graduate from college.

This point relates to a post I wrote last year about tuition breaks being offered by Ivy League colleges and other elite private schools to middle income students. In short, many of those top-tier schools were cutting tuition entirely for families with incomes under $50,000 – 60,000 and significantly reducing it for families earning less than $100,000 – $140,000.

Finally, Mr. Allen pointed out that the average time to graduation at a public university is longer than at a private school.

In general, a higher percentage of students graduate in four years from private colleges than from public universities. If educational resources are cut at public universities, the average length of time to graduation is likely to increase.

I wonder, though, how much the time to graduation has to do with the institution as opposed to the students who attend that institution. Assuming students whose parents have greater financial means attend private schools, perhaps they graduate quicker because they are sidetracked from their studies by having to work full-time jobs. At public schools, on the other hand, students might be more likely to take lighter class loads or stop and start their studies in order to earn the money to pay for college.

What do you think about the public vs. private school debate? If finances are especially tight at your home, are you still considering applying to a more costly private school? Or do you assume that no amount of financial aid can compensate for the rates in tuition, fees and expenses?

Sallie Mae Student Loans Ad

Filed Under: Federal Aid, Financial Aid News Tagged With: cost of public university, private school tuition breaks

Primary Sidebar

FinancialAidFinder Logo
Sallie Mae Student Loans Ad

Latest Scholarship Postings

Systems Consultants Scholarship (Deadline: March 31, 2023)

March 18, 2023 By The FinancialAidFinder Scholarship Team

Reno and Gloria Quilici Scholarship (Deadline: April 1, 2023)

March 18, 2023 By The FinancialAidFinder Scholarship Team

Nevada Air National Guard Scholarship (Deadline: April 1, 2023)

March 21, 2023 By The FinancialAidFinder Scholarship Team

General Fred Michel Memorial Scholarship (Deadline: March 31, 2023)

March 18, 2023 By The FinancialAidFinder Scholarship Team

More Scholarship Listings

Sallie Mae Student Loans Ad

Explore Financial Aid Finder

  • College Financial Aid
  • Saving for College
  • Military Financial Aid
  • Grants for College
  • Student Scholarships
  • Student Scholarship Search
  • Find Student Loans
  • Financial Aid Info
  • Register to Receive College Financial Aid Updates
  • About FinancialAidFinder
  • Contact Us

Tags

529 plans applying for scholarships college college financial aid college savings plan college savings plans college scholarship college scholarships college student loans college tuition community college debt distance learning education engineering scholarship essay scholarships expected family contribution FAFSA federal student loans financial aid financial aid application financial aid eligibility free money for college GI Bill grant Grants hispanic scholarships minority scholarships Pell Grant Pell Grants private student loans reduce cost of college saving for college scholarship scholarship applications scholarship essays Scholarships scholarships for college student financial aid student loan student loan consolidation student loan debt Student Loans Info tuition work study

Footer

About FinancialAidFinder
Contact Us
Privacy Policy
Cookie Policy

Scholarship Submissions

If you offer a college scholarship, you can submit it to us through this form:

Scholarship Submission Form

Copyright © 2023 · FinancialAidFinder - All rights reserved.