Tuesday, November 03, 2009

The magic $50,000 mark

Take a look at the following list of colleges in the US. This list of 58 colleges have the dubious honor of charging over $50,000 a year for tuition, room, etc.

The most interesting thing about this list is why some well-known names are NOT on the list.

You would have thought the obvious names such as Harvard, Princeton, MIT, Stanford, Amherst, Williams, Yale, Caltech, would be among them. Why not?

Elementary Doctor. Those who do not charge the most have big endowments per capita. The larger they are, the more the students are subsidized by the colleges.

I posted a blog earlier re how to choose colleges (or boarding schools) after being asked by too many friends with kids. The first cut is to look at those names with the highest endowment per capita. From them, do a second filter taking into consideration other factors: location, academic reputation, facilities, quality of student counseling and the like.

Choosing a college should not be based solely on cost. A Wellesley in its idyllic setting cannot be compared with, say, Barnard in New York City.

However, if money is an issue, then this list can be useful to your selection process.


These 58 private colleges and universities published rates for tuition, fees, room, and board totaling $50,000 or more in 2009-10. Last year only five institutions did so.

Source: The College Board's Annual Survey of Colleges 2009

Sarah Lawrence College
Landmark College
Georgetown U.
New York U.
George Washington U.
Johns Hopkins U.
Columbia U.
Wesleyan U.
Trinity College (Conn.)
Washington U. in St. Louis
Bates College
Vassar College
Parsons the New School for Design
Carnegie Mellon U.
Vanderbilt U.
Skidmore College
Bard College
Harvey Mudd College
Connecticut College
Tufts U.
U. of Chicago
Claremont McKenna College
Haverford College
Boston College
Barnard College
Colgate U.
Bowdoin College
Bennington College
Eastman School of Music, U. of Rochester
Middlebury College
Pitzer College
U. of Southern California
Fordham U.
Mount Holyoke College
Scripps College
Oberlin College
Hampshire College
Union College (N.Y.)
Stevens Institute of Technology
Franklin & Marshall College
Smith College
St. John's College (Md.)
Bard College at Simon's Rock
Babson College
Bucknell U.
Colby College
Rensselaer Polytechnic Institute
Lafayette College
Boston U.
Hobart and William Smith Colleges
Dickinson College
Carleton College
Tulane U.
Northwestern U.
Cornell U.
Dartmouth College
Bryn Mawr College
Franklin W. Olin College of Engineering


Anonymous said...

I'm sorry but I think you are giving bad advice. My kid goes to one of the schools on the over $50k list. Their financial aid offer (grants) was better than any of the schools whose published costs were below $50k.

I think the best advice is to ignore these lists and apply to the schools you want to go to, regardless of price, and wait and see what each school offers in their financial aid package.

Anonymous said...

I agree that your analogy is flawed. Many of the most expensive schools on a retail level also have the largest endowments when looked at on a per student basis. My son for example started this year at Haverford after an extensive search which included visitng 25 institutions and applying to 12. Haverford gave him the best fin. aid package and I believe that their academics are second to none. If you think the retail price of Amherst and Williams for example is much less - your mistaken. We looked and applied to those schools as well.