As a member of the Education Advisory Board in Washington, we receive access to research they conduct on the college search process. The chart above outlines the results of a recent survey they completed with parents of college-bound students. While no surprise, the results are a stark reminder of how prevalent concerns over costs have become.
In a recent blog post, Rick Bailey from the consulting firm RHB, commented on the growing “transactional relationship” students are having with colleges. In conducting research interviews he referenced how frequently students now refer to choosing a college that gave them the “best financial deal”.
What does this mean for the future?
I still believe in the concept of fit. I think individual schools, based on their unique characteristics, can provide a better environment for certain students to succeed. However, there is no longer denying that costs are clearly driving the process in more substantial ways and only growing in importance.
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