From President to Parent: Value
February 25, 2022 - Ben R. Sells
Hello, parents.
I want to take a moment and talk about the key variables of price, cost and value.
As a dad of four college graduates and as a president who visits daily with prospective students and their parents, I know these are key variables in choosing a college.
On this topic, the higher education system has created complexity, and hopefully my comments will bring some clarity.
Part of the challenge is the difference between the published price and the actual cost at a university –and then making comparisons with other colleges.
Let’s begin with the published price. At every university, there’s the price of tuition. You also need to include the prices for housing, food, fees, books, transportation and other living expenses – prices that aren’t always published.
After scholarships and grants are subtracted from the published price, it should be fairly simple to compare the net costs – the amount your student will actually pay out of pocket – between the colleges and universities your student has applied to.
But, comparisons aren’t quite as simple as it might seem. For instance, not every university is as transparent about additional fees as Ouachita. We believe it’s a matter of integrity to limit additional fees as much as possible, rather than surprising students with them later.
Because of hidden, unexpected charges that you may not see until the bill comes in, parents who had a student at Ouachita and another student at a public university frequently tell us that when all was said and done, the actual cost for Ouachita was the same or even less.
And, not every university has the same highly personalized approach by faculty as Ouachita, which contributes to our strong four-year graduation rates.
If your student attends Ouachita, he or she will have a higher likelihood of graduating in four or fewer years than students who attend many public institutions. In fact, Ouachita’s four-year graduation rates are double those of some state universities your student may be considering.
Why is that important? Because delaying a bachelor’s degree by even just one semester can result in thousands of additional dollars in tuition and living expenses, while also delaying the fulltime salary or the start of graduate school that your son or daughter is looking forward to after graduation.
Finally, there’s one more dimension to be considered: that of value. While some may phrase it as your “return-on-investment” or “getting the most bang for your buck,” we believe that value is the most important factor when choosing a college.
Many colleges and universities offer a good education – and Ouachita’s is excellent – but I also mean value in terms of both personal success and spiritual growth.
Ouachita has an amazing record of graduating students who are primed for personal success. Because of the high placement rate of our graduates into jobs and graduate schools, and then how those opportunities lead to other professional opportunities, the four-year cost of a Ouachita education is an investment in your student’s personal success. And that reflects value.
Value is also related to spiritual growth, decades of research consistently demonstrate that students who graduate from a purposeful Christian college like Ouachita – compared to graduates of a public university or private secular college – are far more likely to experience spiritual growth in college and have an enduring, meaningful commitment to their Christian faith.
While there are always exceptions in the research, the four-year cost of a Ouachita education is a commitment to your son’s or daughter’s spiritual growth. And, that reflects real value.
We want God’s best for your student. If you believe that’s Ouachita, but you’re unsure whether it can work financially, give us the opportunity to walk through this process together with you.
My colleagues in the office of Student Financial Services stand ready to talk with you. They’re accessible and approachable. They’ve heard every question. And while we can’t solve every challenge, we’ll be the best possible partner we can be.
Our university’s vision statement reads in part, “With foresight and faithfulness, Ouachita makes a difference.” I hope Ouachita will have the opportunity over the next four years to make an important difference in the life of your student.
Thank you, parents, for a moment of your time.
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