Public Colleges Vs Private Colleges

Public Colleges Vs. Private Colleges

Public Colleges Vs. Private Colleges: What's Really Affordable?

Julie Garcia

Public Colleges Vs. Private Colleges: What's Really Affordable?

As parents and students cope with the ever-rising cost of higher education, many debate whether attending private institutions - which charge far more than public universities - is worth the expense. Is the quality of the education better? Will students have more access to their professors? Will those professors be more distinguished? Do students make important contracts that pay off later in life? Are any such advantages worth going deeply into debt?

Tuition and room and board at private four-year colleges now add up to more than $30,000 a year on average, and rose by 81 percent, more than double the inflation rate, between 1993 and 2004. (Glather). Financial aid provided by private institutions, even to the upper middle class, has grown more than tuition - by 135 percent over the same period - and some universities provide substantial assistance to low-income students. Still, the dollar amounts are hard for most applicants to ignore. Selection of a college, public or private, often turns on more than just money, of course. Picking a college is like falling in love. Still, students, parents, college officials and high school guidance counselors have strong opinions about the value of a private education. When it comes to paying for college, tuition is just the beginning. Your total cost of attending includes tuition and fees, room and board, books, lab fees, student membership fees, spending money and other miscellaneous expenses.

Cost per year 2-yr public college 4-yr private college 4-yr public college

Tuition: $2,076.00 $20,082.00 $5,132.00

Additional Out-of-District State Charges: N/A N/A $7,291.00

Books & Supplies: $773.00 $870.00 $853.00

Room & Board: $5,747.00 $6,617.00 $6,222.00

Transportation: $1,146.00 $1,031.00 $1,109.00

Other Expenses: $1,608.00 $1,524.00 $1,659.00

Total: $11,350.00 $30,124.00 $22,266.00

Source: Annual Survey of Colleges, The College Board, New York, NY,2004-2005 (Enrollment-Weighted)

Even though the price of private school is usually higher than public school charges, don't be scared of applying. Private schools have generous financial aid packages and scholarship opportunities. Private colleges and universities have more money to support their students. So at the end, private school may cost you the same as a public institution.

Another issue should be underlined here that could influence your budget. The problem it time. Thanks to the wave of students now swamping college campuses, public colleges cannot guarantee your classes will be available so you can graduate in four years. Even if you are diligent, it can take five years to complete a four-year education. Parents and students who do their homework will find that there is more financial aid available than ever before - over $122 billion in 2004-2005 according to The College Board. Financial aid is designed to supplement the difference between what you and your family can afford to pay (your Expected Family Contribution) and what college actually costs. Currently, over half the students enrolled in college receive some form of financial aid, including loans, grants, work-study programs and scholarships. By studying your opinions, you'll find that a college education is certainly within reach.

Private Versus Public Colleges

Public colleges are those that are largely supported by state funds. If you attend a public institution in your own state, you will get a break on tuition costs, and-as a state resident - it's usually easier for you to be admitted, as well. However, if you attend a public college in ANOTHER state, you will probably not get those benefits (though some state institutions do have reciprocal agreements with other nearby states.)

Private colleges, on the other hand, are supported by tuition, endowment, and donations from alumni and friends. Usually they are more expensive than public colleges, but it does depend on the particular school. Also, private colleges often offer the best financial aid. While attending a private school is reputed to translate into less red tape and more personal attention than you'll find at the public counterparts, it's important to look carefully at each individual college and to separate rumor from reality. Private and public colleges may seem the same on the surface. Both are places of higher learning for those seeking a degree beyond high school. Let's examine three typical differences in these colleges: prices, atmosphere, and living environments.

Prices: The largest advantage that public colleges have over private colleges is the price. In-state tuition at a public college is usually quite a savings when compared to private colleges in any state. Also, it may be possible to get a better financial aid package from a private college than a public one. When applying for college it is best to choose both public and private institutions and narrow it down after looking at the combined cost of attendance and the financial aid package offered.

Atmosphere: This is the area that affects students most drastically. Students at private colleges usually get one-on-one attention with professors. Their teachers know them by their first names, and they know their fellow students by their first names. Public colleges tend to be much larger and therefore students are more anonymous to professors and other students. If a student works well in small groups he or she might want to consider a private college. The student who thrives on new experiences and is exhilarated by being with many people may want to investigate the public university. What about the college atmosphere outside of the classroom? Often a public university has a sport team or several sports teams. This