Transparency in College Costs

Abstract

This report addresses the lack of transparency in the college pricing system, past attempts to address the problem, and proposals to do more in the future, with a particular focus on selective, private higher educational institutions. Despite recent federal legislation, students still have limited ability to anticipate the costs of college. Survey evidence indicates that the majority of students know no price other than the stated college tuition, despite the fact that many students would be expected to pay considerably less. For many young Americans, this information deficit reduces the likelihood that they will attend college—and it reduces the quality of the institutions for those that do attend.