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Colleges Cutting Tuition April 1, 2007

Posted by Brian Mulligan in Education, Social Network Analysis.

Tuition for college students and their families maybe getting a little more affordable. It actually applies to directly to Bucknell since it was ranked in the top ten most expensive colleges in the US by The Chronicle of Higher Education and The College Board.

The article was titled “Top colleges get more affordable”

The schools are looking for the best students, but some of the best students are being lured away by larger school with sweet financial packages. Schools are trying to find ways to make a top college education possible for students from lower to middle class incomes.

“The size of the package is irrelevant. What matters is how much do you have to pay and how much do you have to borrow.”

They now have specialists that deal with creating feasible packages to students that can’t afford to attend schools like Bucknell. They create the right mix of family contributions, financial aid and students loans. They make it possible for the students to attend the upper tier university.

For example, Davidson College in North Carolina is changing around its financial aid package. Instead of student loans, the university will provide work study progams and grants. This will allow the students to leave college with less debt.

I think that this a great decision, but will be challenge for Bucknell because of the size of our endowment. Also, Bucknell needs to remain compeitive with the other Patriot League school and other top liberal arts colleges. This may be a direct result of competition for students as a resource. They’re trying to control the resource by providing more benefit.

Do you think that this is a good idea for Bucknell? How will it affect how the university uses it’s money and the students that it attracts?