What private colleges tell you about their price is almost always a confusing number that bears little resemblance to the actual cost of providing an education. Most private colleges use a high-tuition-high-discount model in their pricing, setting a high sticker price and then offering deep discounts–through scholarships and other aid–to look affordable. Even though almost no one actually pays the full sum, tuition sticker prices have gotten so inflated that many families are having a difficult time embracing the notion that college is worth spending that much every year for four years.
This model, now the norm for all but the wealthiest and most elite private institutions, originated some 40 years ago. At the time, it was intended to make higher education more affordable to low-income students. A portion of the tuition dollars paid by some students was used to offset the tuition that couldn’t be paid by those needier students.
