K ING’S COLLEGE W I L K E S - B A R R E, P E N N S Y L V A N I A
During tough economic times, the discussion of college costs becomes even harder for most families. As you consider your options, don’t rule out private colleges or universities because you think you can’t afford them. Private colleges like King’s provide a personalized and challenging education that prepares students for a successful future. Small class sizes, supportive professors and a strong reputation result in 99% of King’s students being employed or attending graduate school within six months of graduation. Let us dispel a couple of myths about the cost of a private education and show you the benefits that they offer over state-system colleges and universities.
Private college tuition is unaffordable for most students.
Over 80% of independent college and university students receive some sort of financial aid, ensuring access to students of all income levels.
$29,056 average private tuition
$13,380 average net cost after financial aid
Source: NAICU 2012
At Kingâ€™s, 97% of incoming freshmen receive financial aid to help pay for their education, and the average percent of need met last year for freshmen was 73%.
Tuition is on the rise at all colleges but more so at private institutions.
Public tuition continues to rise at a faster pace than private tuition in recent years. In fact, private colleges have had the lowest tuition rate increase in at least four decades so the net tuition students actually pay has declined after adjusting for inflation.
Source: NAICU 2012
Tuition increase from 2012 to 2013 Kingâ€™s strives to keep tuition increases as low as possible, especially during tough economic times, and has held the average increase to 4.2% over the last five years.
Most of the aid at private colleges is in the form of student loans.
Source: AICUP 2012
Grants are the largest source of financial aid at private colleges and universities. Over 75% of all institutional grant aid is need-based, going to students who otherwise could not afford to enroll.
The average gift aid package (no loans) for Kingâ€™s incoming 2013-2014 freshmen was $17,154 for residents and $16,934 for commuters.
State colleges offer better deals than private colleges.
Students who attend private colleges and universities receive more in grants and scholarships than those at public institutions, significantly reducing the out-of-pocket costs a family is responsible for.
Kingâ€™s average financial aid package in 2013-2014 was $22,138 for residents and $22,519 for commuters.
Source: CollegeBoard 2012
A degree costs a lot more at private colleges and universities.
Students are as likely to earn a bachelorâ€™s degree in four years at a private college as they are in six years at a state institution, avoiding additional tuition and entering the job market sooner.
Source: Chronicle of Higher Education
Kingâ€™s has an average 4-year graduation rate of 60.3%. With over 80% of students receiving financial aid, private colleges are less expensive than you think. When you factor in the time it takes to earn a degree at a private versus a state institution (and the savings that come with it), the price of a private college is really quite affordable. To learn more about an education at Kingâ€™s College, call 1-888-KINGS PA or visit kings.edu.
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