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The Latest in College Pricing: Tuition at 10 Percent of Your Income
The New York Times • • business
Key Points:
- Whitman College now caps tuition at no more than 10 percent of a family's parental adjusted gross income, using the figure from Line 11a of the 1040 tax form divided by 10, providing transparent pricing upfront.
- This policy aims to eliminate the uncertainty families face about college costs, allowing prospective students to know their exact financial obligation before applying.
- Brandeis University has implemented a similar approach, offering a tool for families to upload tax and transcript information to receive a personalized cost estimate.
- Whitman has experienced a decline in applications from upper-middle-class families who earn too much to qualify for financial aid but cannot afford the full tuition, prompting the school to adopt this more transparent pricing model.
