Gifted Issues Discussion homepage Forums General Discussion Ivy League Admissions.

the average cost of in-state tuition, room and board ($12,110 a year last year) at a four-year public university, after scholarships and tax breaks, has risen 40% faster than economywide inflation over the past decade, the College Board estimates. Private schools are more expensive (average net cost $23,840), but their inflation-adjusted net price has climbed more slowly, at 9%.

Students who do not qualify for need-based financial aid will find that their aid will range from nothing to a grant that will provide full tuition depending on the student’s academic ability and the priorities of the institution. As a general rule of thumb, an academically talented student who wants to get a large scholarship needs to look to schools which provide a lot of merit aid and where the student is significantly above the average academic achievement of the students that this school generally attracts. In addition, for the wealthier student, public institutions in the state where the student is resident often offer the lowest cost options because of their lower tuition.

The bottom line is that college pricing is very complex and that complexity seems to discourage students of limited means and high ability from applying to top institutions. It pays to invest some time on a college’s web site or on the government’s college navigator site before drawing any conclusions about which school will cost the least for someone in your situation. Clearly, money isn’t everything and your choice of college should not be based solely on net price. For most of us, though, it’s an important factor to consider.