Many Colleges May Give Tuition Discounts Just For Asking
College semesters are going to look and feel different this fall. Post-lockdown schooling, along with some states still in lockdown phases, remote learning and reduction in social activities will be in place to ensure students and faculty safety.
Also, research shows many prospective college students are considering whether or not they even want to start college this year. Many may defer a year, and it is apparent there will be especially fewer international students.
As a result of lower student attendance, some colleges may offer discounts on tuition. For instance, Williams College is offering a 15% discount on its fee for tuition and room and board costs for the academic year 2020-2021. But really, these discounts come from requests of students themselves. Students are demanding discounts from universities and colleges. One social media post has gone viral and has been trending, stating, “universities should not be allowed to charge students full price for remote learning.”
Negotiations with colleges this time around may be a little easier for students. Prospective and current college students have a great potential to bargain with their desired schools and tuition prices, since colleges are hoping for students to fill empty spaces.
Many students use data from Free Application for Federal Student Aid to determine how much bargaining power they have with the respective school.
Davin Sweeney, a director of college counseling at Collegewise told CNBC that students should consider whether they should frame their negotiation with a need-based appeal or a merit-based appeal.
Students should explain to the college any circumstances that would affect their ability to pay, but also what was not included in the financial aid application. Merit based appeals work best if you compare a better financial aid offer from another college to the college you are looking to attend.
Overall, the worst that could happen is the financial aid doesn’t change. But on the other hand, just by asking, financial aid could change substantially.
