The College Money Guys - August 2019

WAIT, PRIVATE SCHOOLS CAN BE CHEAPER? DON’T TRUST THE HIGH-STICKER PRICE

When most people think of private schools, they imagine preppy students from well-off families. It’s easy to understand why most private high schools tend to be prohibitively expensive. However, the same isn’t necessarily true for the tuition of private colleges. Here’s why your student should apply to more than just state universities, especially if you are on a budget. MORE ENDOWMENTS = BETTER AID It really doesn’t get much simpler than this. Private institutions have better means of raising funds and large pools of wealthy alumni to ask for donations. Whether or not these funds go toward scholarships or specific departments doesn’t matter; they still free up money the college would be spending elsewhere to put toward financial-aid packages. Thus, while the “sticker price” for a private university may be higher than one run by the state, it’s not uncommon for grants to make the smaller, high-quality school cheaper in the long run. SMALLER CLASSES = LESS COMPETITION Private colleges aren’t limited to the crowded Ivy League campuses. There are plenty of great liberal arts universities across the country

with vastly smaller student populations than state schools. By choosing to apply to private schools where your child is in the top 25% of incoming freshmen’s SAT/ACT scores, they’ll really have a chance to shine. These colleges are more than happy to attract top- tier students who may have gone elsewhere, giving you leverage when it comes to negotiating your aid package. WIDER SCHOLARSHIP AVAILABILITY Another advantage of these smaller schools is there’s a higher likelihood your student could receive an academic or athletic scholarship. On either the debate or basketball team, there is a much better chance your student could be a star player than if they were on an enormous university’s roster. Because these small schools are in fierce competition with one another for titles and awards, attracting talented scholars and players is a top priority for their admissions departments. You should always have a few state institutions on your list as safety schools, but don’t be afraid to let your student reach for these private schools. Odds are they can get a better education at a lower cost than if they go with the lower sticker price. ROASTED CORN SALSA

HAVE A LAUGH

INGREDIENTS • 2 medium ears of corn, shucked • 1 jalapeño or Fresno chile, seeded and thinly sliced • 1/2 red onion, diced • 1 large tomato, cored, seeded, and finely chopped

• 1/4 bunch cilantro leaves, sliced • Juice of 1 lime • Kosher salt, to taste

INSTRUCTIONS 1. Heat a cast-iron skillet to high. Char corn, turning occasionally, for 10–14 minutes until kernels begin to blacken in spots. 2. Using a sharp knife, remove corn kernels from cobs and transfer to a large mixing bowl. 3. With a wooden spoon or potato masher, gently crush corn to release starch and juices. 4. Add jalapeño, onion, tomato, and cilantro. Mix to combine.

5. Top with lime juice and season with salt. 6. Serve alongside your favorite tortilla chips.

Inspired by Bon Appétit Magazine

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