(07-16-2015 11:33 AM)erice Wrote: Wow. I guess our cost advantage over other privates has diminished more than I'd realized.
We're basically the same "estimated sticker price" as Princeton ($244K for Rice vs. $249K for Princeton) and are only $75 (no zeros) lower on average price for students receiving aid.
Granted, Princeton's at the lower end of the other privates near the top of the list (not by a lot)... But has our cost advantaged really evaporated entirely as this suggests?
I feel so out-of-touch.
My understanding is that very few people pay the sticker price -- and for those few, the fact that Rice extracts as much money from them as Princeton does seems OK. In fact, for those applicants who are completely price-inelastic (and you'd be surprised how many there are), I'm glad that Rice is not leaving money on the table -- their tuition helps subsidize everything else :)
On the other data that the list gives:
- As noted, on "Estimated price for those who receive college aid", Rice and Princeton are indistinguishable: $91,326 to $91,381. While I wish the difference between Rice and Princeton were greater, the fact that this number is less than 3/8 of the sticker price seems good.
- Rice students on average graduate with more debt than Princeton students: $4,971 to $1,563. Again, I wish Rice had the edge here, but neither number seems like a very large debt figure for a top-flight undergraduate education. However, median debt might be a more revealing statistic than average debt.
One reason Princeton can do what it does is that its participation rate for alumni giving is simply phenomenal -- something like 50%. Rice is around 32% -- a respectable level, and a growing one (thank you, fellow alums!), but clearly there is room for further growth that will allow Rice to offer more aid to more students.