Is a private college out of the question?
January 20, 2012
Many mothers deciding whether or not to go to college to pursue their dream of obtaining a bachelor's degree think that the high cost of private colleges make these schools completely unrealistic for someone who is cost-conscious.
In many cases, they are correct. According to U.S. News & World Report, a 2011 survey of undergraduate programs found that the average cost of attending a private college or university is $27,340 per year.
However, the high sticker price associated with private colleges shouldn't deter you.
Grants for parents, single mother scholarships, scholarships for mothers and other financial aid can instantly make these expensive schools within reach for many.
In addition, the publication also reported that a survey by the National Association of College and University Business Officers found that the average student who entered a private institution in fall 2010 received a tuition discount of nearly 50 percent.
U.S. News & World Report also names the nation's least expensive private colleges. On average, these schools cost $6,115 per year.
Kentucky's Berea College is the least expensive, with an annual tuition and fee cost of just $910.
"Relying on endowment income, gifts and financial aid, Berea does not charge tuition," the publication reports. "Instead, students are required to work a minimum of 10 hours per week in campus-approved jobs."
Other schools that made the list include Brigham Young University in Hawaii, Brigham Young University in Idaho, Brigham Young University in Provo, Mid-Continent University in Kentucky, Arkansas Baptist College, Concordia College in Alabama, Rust College in Mississippi, Lane College in Tennessee and Amridge University in Alabama.
When it comes to several of these schools, don't believe the old adage that you get what you pay for. Berea College and the three Brigham Young University locations that are among the nation's least expensive private colleges are also on the publication's list of the country's best colleges as well.
Whether you choose a public or private college or university, it's important to pick your school based on a number of factors including whether it offers your major, its reputation, convenience and cost.
Regardless of where you choose to pursue a bachelor's degree, remember that the investment is likely to pay off in the long run.
According to the U.S. Bureau of Labor Statistics, in 2010 individuals with a bachelor's degree made an average of $1,038 per week, compared to $767 per week for those with an associate degree, $712 per week for those with some college (but no degree) and $626 per week for those with a high school diploma.
