Loading ...How to Get a Tuition Discount
In today’s economy, more and more families are searching for discounts, coupons, and any way possible to lower the sticker price of their day-to-day purchasing–but what if you could actually lower the sticker price of a private college?
Understanding the “Sticker Price”
If you’ve ever shopped for a bargain, you’ve probably noticed the words “Suggested Retail Price” above the original price on a price tag. The price you see listed on a college’s website is like that suggested price–it is the starting point, but NOT necessarily the final word on the cost of college.
Industry experts refer to this as the “college sticker price,” and we focus on helping families find ways to reduce this cost!
Why Would Colleges Offer Tuition Discounts?
Like any large business (yes, colleges are “big business!”) colleges and universities want to get the most out of their investments. They want students who will perform well, graduate on time, get good jobs, and later contribute back to their alma mater with both prestige and alumni donations!
Of course, lots of colleges will want students like this, and their best chance to them is to offer competitive pricing by doling out scholarships, grants, and tuition discounts.
Start With the FAFSA
Did you know that filing the FAFSA is actually a way to create competition between colleges? The key is to send the FAFSA to 6 to 8 schools who are all looking for students with your child’s attributes (GPA, major, community involvement, athletic or other talent, etc.). These discounts aren’t limited to students with a 4.0, but you will need to do some research to find out which schools are looking for students with your child’s profile.
The schools that receive your student’s FAFSA will see all the other schools to which the FAFSA was sent. If they see competing schools listed (omitted example) they may be more likely to offer additional aid.
Evaluate and Appeal
Once each school has sent your student an Award Letter, you can sit down and evaluate their offers. If your student’s first choice school has not offered as much as a second or third choice, your family can appeal for additional funds by leveraging the best award offers against the offer from that first choice school.
Some schools will bite, others will not. If a school truly wants your student, this strategy may result in a significantly improved financial aid package which translates into a much lower cost of college for your family!
Note: Only appeal an award from a school your student is still interested in attending. It is not ethical to ask for more money from a school in which your student is not still interested and wouldn’t accept an offer.
All the best,
Deborah Fox
photo: tizwas01’s spare change
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February 6th, 2009 at 10:08 pm[...] Sadly, this appears to be true. It does not, however, mean you can’t get a reasonable price on a college education by planning ahead. (For example, colleges’ “big business” approach is what allows some students to get offered a tuition discount!) [...]
February 6th, 2009 at 10:09 pm[...] to work out kinks in your student’s financial aid award. I’ve recently written about how to get a tuition discount, and as you know by now, the higher your student ranks in the applicant pool, the more likely you [...]
April 7th, 2009 at 11:58 am[...] to work out kinks in your student’s financial aid award. I’ve recently written about how to get a tuition discount, and as you know by now, the higher your student ranks in the applicant pool, the more likely you [...]
April 7th, 2009 at 12:00 pm[...] how to get a tuition discount, and do everything you can to make that [...]
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December 1st, 2009 at 5:27 pm[...] As your child strives for an athletic scholarship, however, I would encourage you not to put all your eggs in one basket. Now is the time to focus on alternate ways to cover college costs. This may be as simple as working on finding private scholarships your child is more likely to win, or learning how to get a tuition discount. [...]
January 28th, 2010 at 3:08 pm[...] As your child strives for an athletic scholarship, however, I would encourage you not to put all your eggs in one basket. Now is the time to focus on alternate ways to cover college costs. This may be as simple as working on finding private scholarships your child is more likely to win, or learning how to get a tuition discount. [...]
January 28th, 2010 at 3:17 pm