The cost of attending college can be a barrier for many families and leads some to not even consider higher education at all. According to the Education Data Initiative, the average cost of college in the U.S. is about $38,000 per student per year.
That average cost has more than doubled in the 21st century, and when you take into account student loan interest and lost income, investing in a Bachelor's degree can cost in excess of a half-million dollars.
But some area colleges are trying to reverse that trend in different ways.
In September, Hartwick College announced its new “Life Balance College,” which has started rolling out this fall. Part of the new model included a tuition decrease to provide students and family a transparent price.
“It’s gotta stop, right? We can’t just keep charging these exorbitantly high sticker prices, then raising our tuition every year and then passing those costs along to our students,” said Bryan Gross, the vice president of enrollment management and athletics at Hartwick College.
The college is redefining student success by taking a more holistic approach. One way they’re doing that is by looking at financial wellness.
“We here at Hartwick are taking a bold stance in wanting to really be clear and transparent with what students and families can expect to pay when they look at Hartwick,” said Gross.
Hartwick’s new tuition structure will be standard across the board, starting in the fall of 2025.
“Twenty-two thousand dollars tuition and standard fees, $16,000 room and board, scholarships up to $10,000,” said Gross.
Gross said they still strongly encourage families to fill out FASFA applications.
“First be offered federal grants and then state grants if they’re eligible. Then they’ll be offered loans, subsidized and unsubsidized loans. And then forms of self-help, in things like work study. And then finally on the back end, Hartwick College also offers need-based scholarship,” said Gross.
Gross said after it’s all said and done, a family could be looking at a net cost between $11,000-$13,000 per year.
“For us, as far as being the life balance college, it’s more than helping students come in, but really understand a four-year plan,” said Gross.
To ensure students are successful, Hartwick is not only focusing on financial health but academics, mental and physical health with their new model.
“The new initiative pushed me to get more involved,” said Roselyn Dumerville, a senior at Hartwick College.
Although Dumerville won’t benefit from the new tuition change, she is taking advantage of Hartwick’s Life Balance Credit by engaging in activities that promote academic, physical, mental or financial wellness.
“And if they do three of these activities in a semester, Hartwick College will actually give them a $250 life balance credit, which comes right off their bottom line on their bill,” said Gross.
A student can do it for both semesters, earning a total of $500 in credit for the year.
“An initiative to get students more active and get students more involved in campus life, instead of just going to class and going back home. Incentivizing them to go on the hiking trails we have right here on campus, participate in campus events, use the resources we have here on campus,” said Dumerville.