14 Jan Are Private Universities Options For First Generation Students?
Private universities seem like an unreachable goal for many First-Generation students. Many students think it isn’t a possibility due to the hefty price tag and the unattainable standards these schools have when admitting students.
However, research shows that students who attend these private institutions have a higher rate of graduating, and less debt than those students attending a public university.
Most students who decide to obtain a private education typically get more financial aid. Keep in mind that the sticker price is not usually what you end up paying. In fact, the average student aid package received in private schools such as the University of Denver is around $35,000. In some cases, it is much cheaper to attend a private institution than a public institution due to the feasibility private universities have when giving out aid, making it a less costly option for First-Generation students. According to Sandy Baum, co-author of the 2018 Trends in Higher Education report “Schools charge full-pay students more money but give lower-income students more aid as a result.”
The most expensive private colleges—including most Ivy League institutions—charge around $50,000 a year just for tuition. But the average private college charges about $33,500 in tuition, according to the College Board. The typical private school is now awarding freshmen grants averaging about $18,000 a year—bringing average net tuition down to about $15,000 a year, the average cost of a public school making it an obtainable school for many students.