What Is the Value of a College Degree

What Is the Value of a College Degree? Cost Versus Value of Higher Education It can be challenging to fully understand all the costs involved in pursuing higher education because of the vast number of factors that have to be taken into consideration, some of which are relevant only in very specific situations. However, there are some basic differences in costs between public and private institutions that may help parents and students make more informed choices. Related Articles Best College Quotes Best College Quotes Why Is a High School Education Important? Why Is a High School Education Important? Companies That Help Employees Pay for College Companies That Help Employees Pay for College Public Colleges and Universities Public colleges have the advantage of offering higher education at significantly lower overall cost than private institutions according to Peterson's. They can do so because they receive funding from their state government, and as a result, the spending is overseen to some degree by the granting entity. These funds allow state colleges and universities to offer significantly reduced tuition as compared to private institutions. The trade off is that state universities are often much larger, sometimes having as many as 200 or more students enrolled in lower-division classes. They may also offer a greater diversity of academic majors than private institutions and many have earned a reputation for excellence in a vast array of academic disciplines. Private Colleges and Universities While private colleges generally have a much heftier price tag, they also generally offer far more in the way of both need-based and merit scholarships. According to The College Solution, private colleges offer significantly more financial aid than do state colleges. In some instances, private schools can end up costing the student even less out-of-pocket than their local state college, even if when the tuition is $40,000 or $50,000 per year. Also, schools seeking a diverse body of students, or those wishing to increase their rankings can make qualified applicants very attractive offers that make their high dollar schools quite affordable, even for lower-income families. In general, class size is much smaller, and there is greater access and interaction with instructors, although the availability of majors may be much more limited.