Tough economy is forcing high school students to focus more on finances, and many are forgoing their ‘dream schools’ for more affordable options
High school grads are downsizing their college dreams
Like graduating high school seniors throughout the country, Amanda Skinner navigated tough economic times by making her college choice with a laser-like focus on finances.
Amanda, who is about to graduate from Sweet Home High School in the top 11 percent of her class, was attracted to the University of Rochester and Case Western University in Cleveland, but did not apply to those private schools because of their cost. Both have sticker prices of more than $34,000 a year in tuition and fees. Add room and board and the yearly cost at each is closer to $50,000.
Instead, Amanda decided on Geneseo State College over St. Bonaventure University because Geneseo offered a strong academic program at about half of what she would pay at Bona.
That effort to seek quality at an affordable price went even one level deeper.
Amanda — whose acceptance at Geneseo was deferred until next year’s second semester — planned to attend the University at Buffalo the first semester. But at the suggestion of Geneseo officials, she instead chose Erie Community College, a less expensive option.
All across the country, college-bound students and their families — faced with dwindling investment portfolios, job losses and concerns about the economic future — placed far greater emphasis this year on cost when choosing colleges.
Students who otherwise might have gone out of town are staying home.
Many who were initially leaning toward private colleges opted for state schools.
And others chose two-year community colleges over more expensive four-year institutions.
“Almost all my friends are staying right here,” Amanda said. “If the economy were better, they could explore a little more and not stay in their backyard.”
Seventy-one percent of the 658 high schools surveyed by the National Association for College Admission Counseling reported an increase in the number of students forgoing their “dream schools” in favor of more affordable options.
“The potential effects of the economy loomed large over this admission cycle,” said Joyce Smith, the group’s chief executive officer. “It appears that more students and families were concerned about cost, and plans about whether or where to enroll were changed as a result.”
A record 300,000 applications were submitted this year to State University of New York schools, where annual tuition and fees average about $6,000 at the four-year campuses. UB saw more than 21,100 applications, and Erie Community College more than 12,600, also records.
“Not all of those will attend, but it shows interest in the college,” said Daniel Penfold, ECC’s executive vice president of student affairs. “I think we’re becoming a No. 1 choice for a higher percentage of students.”
Most impacted by the economic downturn are average students from middle-income households.
“Financial aid [for them] is not going to be there in the form of scholarships, which leaves parents scrambling,” said Mark Morlock, an Amherst financial adviser.
The final tallies are not yet in at Sweet Home High School, but it is clear that there will be a sizable increase in students attending SUNY colleges, said Ty Critelli, a school counselor.
Finances, he said, are a much more prominent part of college discussions.
“I probably get five calls a week about it,” Critelli said. “That’s a lot of parents concerned about where they’re going to get money. They just got absolutely slaughtered [financially] in the last year.”
Parents, too, are now much more involved in the college-selection process, said Donna Shaffner, dean of admissions at Daemen College.
“A lot of them lost their entire savings meant for their child’s education,” she said. “They’re asking many more questions.”
At Williamsville East High School, enrollment at four-year SUNY schools jumped 16 percent, and 55 students — or 23 percent of the graduating class —are going to UB, said Michael
J. Coon, team leader of the counseling office.
That is likely a result of both economic issues and “a growing interest in and respect for local schools,” Coon said.
Anthony Sciandra, a Sweet Home varsity tennis player, chose to attend UB because it has a strong management program and is $6,000 less expensive than both Bowling Green University in Ohio and Niagara University, his other top choices.
“A lot of students have shied away from the private schools because of the cost,” Anthony said.
The economy is presenting challenges not only for students and their families, but for private colleges.
Both Canisius College and Niagara University fell a bit short of meeting their enrollment targets for the fall’s freshman class.
“It’s definitely a question of the economy,” said John J. Hurley, executive vice president at Canisius. “This is a price-sensitive population in this region. We’ve had a lot of bad economic news with General Motors and the like.”
At the same time, it’s not the disaster scenario private schools feared earlier.
Residence halls are still near capacity at Canisius, while transfer and graduate school numbers are strong at Niagara. And both schools said their freshmen classes are as academically strong, or even stronger, than last year.
Bigger trouble is brewing at Reed College, a private school in Portland, Ore. Too many of the prospective freshman it planned to accept for admission in the fall needed financial aid that the college could not afford.
Instead, the school dropped more than 100 needy students before sending out acceptance letters and admitted substitute candidates who are able to pay full tuition.
But educators urge financially strapped students to continue applying to private schools, which are seeking creative ways to provide aid and remain competitive.
“I think we’re going to have to make our case more and be very good at communicating our value,” said Michael Konopski, dean of enrollment management at Niagara. “Graduating on time, class sizes, getting the level of service that you want are all things we do pretty well in the privates.”
School officials say local students are fortunate to have a broad range of college opportunities in the region.
Briana Ridge, a varsity cheerleader at Sweet Home, looks forward to studying interior design at Buffalo State in the fall.
“I didn’t look at other schools because I’ve heard so many good things about Buff State,” she said.
Ashley Porter, a member of Sweet Home’s cross-country team, will study nursing at Niagara County Community College, which is less than 20 minutes from her home.
“I knew I was going to stay here,” she said. “Even with loans and stuff, everything else would be too expensive.”
Morlock still sees many students going ahead with their preferred, more expensive choice, but families are piling up extra debt to make it happen.
“Going forward,” Morlock said, “I don’t know if they’re willing to do it. Colleges are still raising their costs, and we don’t know where parents are going to draw the line.”
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