Wednesday, February 6, 2013

The Cost of Attendance

In Mark J. Mitchell’s excellent article an earlier issue of Independent School magazine, “Funding the Total Cost of Attendance,” eloquently describes the real cost of a non-public school education. Here is a direct quote from the article:

“Imagine this: You’re in the car dealership and you’re ready to buy. You've done your homework, you've talked to the salesperson, and you're ready to ink the deal. Then, when you are about to hand over your $25,000, you are told that it's another $500 for delivery and prep; another $1,500 for taxes, titles, and tags; $150 for those floor mats; and so on. Next thing you know, your $25,000 isn't going to cut it. Wouldn't you prefer to know the whole price up front? Not just, ‘How much does the car cost?’ but ‘How much am I going to pay for everything?’
Now imagine that the $25,000 is not for a car but for tuition — and that the $1,500 is for books and lab fees, $150 for joining a club, and so on. So, the $25,000 ‘tuition price,’ quickly can become a $27,500 (or more) ‘cost of attendance.’ While some may feel the “price,” is worth it, the true “cost” of a year may pose a different consideration of the value proposition.”

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