Private colleges and universities are known for small class sizes where students receive individual attention. These same institutions tend to offer frequent opportunities for involvement, more study abroad opportunities and boast higher graduation and retention rates, according to the Wisconsin Association of Independent Colleges and Universities. Many also associate a private education with pricey tuition.
While tuition and associated school fees at private colleges and universities are often higher than those at public institutions, scholarships and grants can greatly offset the cost. In fact, financial aid has been increasing and accelerating at private institutions, Bloomberg Businesweek recently reported. Scholarships, grants and other forms of financial aid at private colleges and universities between this coming fall semester and the fall of 2009 increased by 6.8 percent as compared with tuition and fees, which rose by 4.5 percent, according to a June report from the National Association of Independent Colleges and Universities.
Private institutions aren't only slowing tuition hikes and enhancing scholarships for campus and distance learning programs. In some instances, they're freezing tuition and offering three-year degree programs, National Association of Independent Colleges and Universities President David L. Warren was quoted in a news release as saying. "Our colleges are redoubling their efforts to keep out of pocket costs as low as possible for students and families...," National Association of Independent Colleges and Universities President David L. Warren was quoted in a news release as saying. "The bottom line for consumers is that they should not rule out a private college just because of the price tag."
The average published tuition and fee at private colleges and universities throughout the country is about $26,273, an amount that after financial aid and federal tax benefits came to $11,870, information from the College Board shows. Even for the 2008-2009 academic year, the average net tuition charge for private college and university students in Wisconsin, after financial aid including loans was considered, was $4,737, a web site for the Wisconsin Association of Independent Colleges and Universities shows. Student loans do have to be repaid, but 71 percent of the $18,478 average freshman financial aid package came in the form of grants that do not, the Wisconsin association reported.
Students and families can check the website for the National Association of Independent Colleges and Universities for a list of private institutions that have kept their tuition rates the same as last year. These colleges include the AIB College of Business in Iowa, Culver-Stockton College in Missouri, Fresno Pacific University in California and The Sage Colleges in New York State, according to the site. In Ohio, Ursuline College and the University of Akron have launched three-year bachelor's degree programs, the national association site shows.
Students might also consider saving money that might otherwise be spent on commuting and meal plans, since many private colleges according to a June 2010 report in USA Today have added or are planning to add distance learning options. Some private institutions have seen substantial enrollment increases as a result of new online learning opportunities, the report noted. The USA Today article focused on Christian institutions that an Eduventures consulting group analyst told the reporter have an advantage in the strongly religious United States and a crowded online learning market.
Online college programs themselves offer opportunities to schedule studies between the demands of work and family. Some distance learning programs are entirely online, while others combine time on campus with time online. Scholarships and grants for campus and distance learning programs might be based on financial needs or on instances where students have demonstrated academic success, community involvement, leadership abilities and more.
The Minnesota Private College Fund alone administers an array of scholarships for its 17 member institutions. Students in some instances might have to demonstrate academic success or community involvement and in others might have had to overcome barriers to pursue a degree. The Private College Fund also awards scholarships to students studying specific subjects.
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