The cost of college admission has become excessive. Specifically, prestigious and selective universities have been driving up this cost. For a student looking to attend a prestigious university, say top 30 in the country, the cost of applying can be an extremely significant out-of-pocket expense.
College acceptance rates have been dropping in recent years. According to Northwestern University’s own data, their acceptance rate has gone from 27.1% to 7% in 15 years. Other colleges present similar data, with the University of Notre Dame also going from 27.1% to 9.8%, Vanderbilt University going from 18.9% to 4.7%, and Washington University in St. Louis going from 27.6% to 12%.
All of these Universities have shown a clear trend of becoming more selective, adding a sense of mystery to the college admissions process. Gone are the days when students could pick a singular dream school to achieve their prestigious education. Now, you can’t rely on admission to any selective institution.
No stat, class rank, test score, or extracurricular can guarantee you admission into any of these Top-30 schools, forcing prospective students to cast a wide net in their application process. This causes top students to apply to anywhere from 8-20 schools. Couple this with an average application fee of sixty to one hundred dollars, and you can see the bill add up.
The fact that no single stat can make your application stand out from the rest requires prospective students to try to make themselves extremely well-rounded in all possible areas. This often leads high schoolers to take the ACT or SAT multiple times to maximize their score. At roughly seventy dollars per test taken, this can also become a large factor in the cost.
To get a real number on how much students are spending on college admissions, we can consider a high-achieving high schooler who’s applying to 10 schools. We’ll consider an average of sixty dollars per application fee, and two sittings for the ACT and one sitting for the SAT. This would leave their total at more than 800 dollars. “I applied to 9 schools, took the ACT 3 times, and my total cost for applying to college was somewhere around $850”, Ellie Kiers, senior at Rochester High School, says. This example shows how realistic this estimate is for many applicants.
Many schools have adopted a test-optional policy, which may seem like a good thing for students. However, this leads to students only submitting their scores if they match the school’s averages. These averages only reflect submitted scores, putting them easily in the 95th percentile of test scores. This means that 95% of test takers pay for the test, and don’t even submit it.
“Roughly 40% of students are applying to 10 or more schools,” according to CNBC writer Jessica Dickler. “The key is to identify a core list of different types of institutions with a balance”. By achieving a balanced application list, you can have fewer selective schools and more schools with lower application fees or no fees.
Applying to scholarships is a good way to try to offset the cost of college admissions as well. Getting one scholarship can save you enough money on tuition, putting money back in your pocket. Completing the FAFSA is a way to open up the door to many financial aid grants, saving even more money on tuition to make up for application costs. “Some schools waive the application fee if you complete an application while you are visiting a campus”, Mrs. Heberling, counselor at Rochester High School, says. “If a student doesn’t qualify for a fee waiver, it wouldn’t hurt to reach out to a school’s admissions office to see if they would waive the fee if it is too much of a burden for the student to pay”.
There are paths to successful and affordable college admissions. There are ways to lower the costs of applying for college, and you can always ask the college itself for assistance. Doing your research is important, and make sure to save your money up to prepare.
