<p>Kiplinger's has come up with their lists for 2009 Best Value Colleges for LAC, Private and Public Universities...</p>
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2009 Best Values in Private Colleges
Despite shrinking endowments, these schools deliver an affordable, high-quality education.
By Jane Bennett Clark, Senior Associate Editor
From Kiplinger's Personal Finance magazine, February 2009</p>
<p>A year or so ago, a host of wealthy private institutions looked deep into their endowments and offered to share more of the wealth with their students. They beefed up financial aid, including replacing loans with grants for students who qualify and expanding aid to families with higher incomes.</p>
<p>Now, with the economy reeling, colleges across the board face shrinking bank balances and the same out-of-sight costs for utilities, construction and staff benefits that have helped keep tuition increases outpacing inflation for the past decade. Not surprisingly, schools with the biggest endowments are among the hardest hit.</p>
<p>Will those circumstances affect your ability to cover the college bills? If you expect to receive significant financial aid, probably not, says David Warren, president of the National Association of Independent Colleges and Universities. Colleges with minimal endowments-the vast majority-continue to offer aid through a mix of loans, work-study and grants funded by gifts. Billion-dollar-plus institutions have enough left in their coffers to make good on last year's promises.</p>
<p>Parents who pay most or all of the sticker price, however, will continue to feel the pain. The average cost of a year at a private school runs $34,132, up 5.6% over 2007-08, according to the College Board. Next year's price could reflect a jump of 6% or more. Confronted by high costs and tight credit, more families will likely turn to their state universities, where the average cost comes in at $14,333. Says Warren, "The decision goes to the rudimentary question: What will your out-of-pocket expenses be?"</p>
<p>Meanwhile, colleges both rich and not-so-rich are cutting outlays to keep operations running and financial aid flowing to families hit by the economic downturn. You can expect many schools to freeze construction projects, leave staff vacancies open and hit up donors to help families cover the higher costs, says Warren. "Nobody pretends it's easy, but it is the way to make more money available for student aid and protect the core of the institution, which is academics."</p>
<p>To find colleges that deliver the goods during tough times, look to Kiplinger's 100 best values in private colleges and universities for 2008-09. These institutions, led by Pomona College among liberal-arts colleges and the California Institute of Technology among universities, provide a top-quality education at an affordable price-usually with generous financial aid.
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<p>2009</a> Best Values in Private Colleges - Kiplinger.com</p>