Increasingly, college-bound youngsters needn’t be quarterbacks or power forwards to get help paying the bills. Most U.S. colleges discount tuition payments for most students. About 76 percent of first-year students get discounts, an average of $7,000 off the published rate.
Generally, better students get bigger discounts. An applicant with an SAT score of 1350, in the top 5 percent of a high school class, might get a $10,000 discount, for example, while an 1150, top-15 percent student might get $3,000 off. Often, such information can be found on the school’s Web site. What’s more, colleges may increase their discounts for desirable students so it pays to negotiate after acceptance.
On the other hand, about 30 elite universities try to give discounts only to students who are financially needy. Thus, if your child or grandchild is determined to attend Yale or Stanford, be prepared to pay full price.