By Tony Isola of A Teachable Moment

Fun Fact – College is a buyer’s market.

Parents are enamored with the elite 1%. There’s a better way.

The average college struggles to meet its recruitment goals.

Not taking advantage of this situation is flushing money down the toilet.

According to Horsesmouth:

75% of students get into their first-choice college.

4.1% of first-year students end up in elite universities, which account for 3.4% of all schools.

Only 61 colleges accept less than 25% of applicants.

Elite schools aren’t doling out a penny in aid without excellent grades AND high financial need.

Why?

Due to their waiting lists, they possess monopoly-like pricing power.

Harvard could charge a million dollars a year and fill their freshman class.

Attacking an opponent’s strength is never a good strategy.

The solution – Cast a wider college net.

Paying full price is a terrible idea for most families.

Not setting the right expectations is worse.

47% of students at state universities and 80% at private colleges receive “scholarships.”

Nothing more than an old-fashioned discount.

Overcharging and subsequently lowering the price is one of the oldest tricks in the books.

Schools grasp padding egos is a terrific motivational tool.

Sizable checks tend to follow.

Who gets the most money in this deal?

Drum roll, RICH PEOPLE! …..read more