Though more students than ever are choosing schools far away from home, a large number still make the decision to stay nearby. This spells bad news for the students from New England because according to Campus Grotto, four of the top five most expensive schools are located there.Bates, Middlebury and Colby round out the top three in order with tuitions topping $42,000 per year. Although college is a major expense for many families, a lot of students don't pay the full sticker price for each year of attendance. They often receive scholarships based on need and merit, but the unsteady economy could make financial aid packages a bigger factor in decisions this year than in the past.
Several popular ways of paying for college such as taking money out of investments or drawing on home equity lines of credit are also less feasible for many families this year. As a result, students may be forced to turn down their top choices or agree to take on significant debt.
Tufts and Wesleyan, two competitive New England schools, also rank in the top 25 most expensive colleges.
These two schools, like virtually all of the schools on the list, reject thousands of applicants each year. Not all of the schools are need-blind, so an applicant’s ability to pay factors into the consideration that he or she is given. Colleges have always faced the challenge of balancing admissions and financial aid decisions, but the coming year could underscore this issue to a greater extent.
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--Bridget O'Sullivan
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