Figuring out the Finances: The Cost of College

March 9, 2010
By Rachel Rabinowitz

Imagine that you are an intelligent college senior and you have been admitted to the ten colleges you applied to. In the past, this may have been great news, but presently your parents may not be able to afford the tuitions of every university you have gotten into. Now, imagine that there is a place where you can compare the tuitions of all of these schools to determine where you can afford to go. News flash: there is such a place. Even better, there is more than one place to get all of this information. Why have these sites not been marketed more effectively so that everyone knows about them and is able to use them? The two sites in the article by Higher Education are the University and College Accountability Network and the Voluntary System of Accountability. The University and College Accountability Network was started to give students and their families information about private colleges. The Voluntary System of Accountability, on the other hand, was instituted in order to provide information about public colleges through the American Association of State Colleges and Universities and through the Association of Public and Land-Grant Universities. While the two organizations are meant to enable people to more easily compare the costs of enrolling in various colleges, they have not been successful in giving potential students enough information to make decisions on what the most affordable choice would be for them, based on their options of colleges and the amount of money they have at their disposal to spend on college tuition. The two organizations are supposed to report the cost of various universities and where students will be provided with the most opportunities for the amount they spend on a college education. However, both volunteer organizations are falling short of the job they have proposed to be doing. Therefore, the American Enterprise Institute and the Education Sector, two voluntary organizations, are reviewing the two sites to make sure that the flaws are taken care of so that institutions will continue to strive to make students successful during their college years. Both sites give information about the costs of different aspects of attending the university, including attendance, enrollment, student engagement, and academic achievement. However, the sites do not provide any novel information that a student or parent cannot obtain elsewhere. Another problem is that the sites do not allow for users to look at schools side-by-side. Thus, it is difficult to compare different schools, even if all of the information is presented together. Many schools choose not to give information to these sites, which also makes it hard to compare schools. How can an incoming freshman compare two schools if one of the schools does not provide any information? Others argue that although this is true, many potential college families do not know where to look for this information. Therefore, the sites are helpful in that they provide a plethora of information about various institutions in one, easy-to-navigate location. Also, the amount of schools that are participating in relaying information via these sites is continuously increasing, and the sites are helping users more easily navigate the vast array of information that is available. It remains to be seen if these sites will flourish and encourage students to achieve success as they prepare for college.