<p>Following up on noimagination’s useful post #48 on average net price at various income levels, I just quickly ran the IPEDS data on 11 additional MN-IA-WI LACs (Carleton, Macalester, Grinnell, Concordia (Moorhead), St. John’s, Lawrence U, Beloit, Ripon, Luther, Coe College, and Cornell College). </p>
<p>Of these, the average net cost came in higher than in-state net cost at UMN in every income bracket at every school, with 2 exceptions: For those in the $0-$30K income bracket, Beloit at $6,869 came in $1,060 below the U. At the next bracket up, though, Beloit was almost twice as costly ($16,019 at Beloit versus $8,566 at the U), and it remained higher all the way up the income scale. The other exception was Ripon, which is $62 cheaper than the U at in $75K-$110K bracket, and $1,890 cheaper in the $110K+ bracket. Not the greatest school, though. </p>
<p>Perhaps the most eyebrow-raising disparity: at Carleton, the average net cost for those in the $0-$30K bracket was $16,122, or more than double the average net cost of attending the U for those in the same bracket. This is causing me to rethink my longstanding view that those in the lowest income brackets might be better off financially at a private school that is need-blind in admission and meets 100% of need for 100% of its students. That price just seems prohibitively expensive for households in that income bracket. And surprisingly, the average net cost for those in the next bracket up, $30K-$48K, is actually lower (at $15,999) than for those in the lowest income bracket. Maybe there’s just something funky in the data, e.g., not enough data points so that students from households with incomes very close to $30K but substantial assets throw off the data for the lowest income bracket, but whatever it is, I found that very surprising.</p>
<p>Assuming the IPEDS data are accurate, Minnesota residents on average will pay substantially less to attend the U than to attend private LACs in the region. There will be exceptions, however, and for some it may be worth it to pay a premium to attend a LAC instead of a large public university; the experience is just very different.</p>