Think you can't afford a college education in this recession? Think again.
Prompted by concerns of potential students that private colleges are too expensive, the head of the Wisconsin Association of Independent Colleges and Universities ( WAICU ) refutes those opinions. WAICU President and CEO Rolf Wegenke, Ph.D., says college enrollment actually grows during a recession — it's a way to get out of the recession. Wegenke suggests you forget about the sticker price and focus on your dream.
"Our average tuition is $22,000, but our average financial aid package is $16,000. That leaves a net tuition — what's going to come out of your pocket — of $6,000 a year. That is affordable for most people."
Wegenke says folks at WAICU will work with you to get that education and be successful. He says the majority of their students make use of financial aid.
"Ninety percent of the 59,000 students in a Wisconsin private college are receiving financial aid. But there are statistics that show a lot of people are leaving financial aid on the table because they're simply not applying, and that's a tragedy."
Wegenke maintains, the opportunity is there; all you have to do is ask. He explains, when you look at the net cost of education — tuition minus financial aid — private colleges are comparable to the UW system.* That's why he stresses it's important to look for the college that is best for you, whether it's public or private.
* Average loan indebtedness
WAICU: $22,699, UW: $21,104
Also, the private colleges have a higher 4-year graduation rate. WAICU: 47%, UW 25%
Also check Private Colleges Week