The New York Times published an article today that provides a comprehensive look at the colleges that have been moving swiftly to lower their tuition rates for lower income and middle class families. Primarily, the colleges that are making these price reductions are the more wealthy, upper-tier institutions. But the article points out, as I often do to anyone who will listen, that most families do not pay the “sticker price”–and many pay far lower tuition rates that we might expect.
Amid all the hullaballoo about ever-rising tuition costs, it pays to consider that how one chooses a college has a bearing on one’s financial aid strategy. One of the problems, however, is that families with limited means–including middle class families–often don’t know enough about their college options to develop compatible college selection and financial aid strategies.