<p>Elon's tuition, room and board looks like it totals around $40,000/yr, while other liberal arts colleges are in the low to high $50,000s. How can they do this? Has Elon refrained from the arms race that other LACs seem to be pursuing (new stadiums, new dorms, better food)? Are there fewer STEM majors, allowing less to be spent on labs and equipment? </p>
<p>Or perhaps the amount spent is the same; other colleges have a higher sticker price, but then provide half of their students with "merit" tuition discounts. </p>
<p>I know this will sound like we've bought into the "if it's cheaper then it can't be as good" myth. Perhaps, but there are differences in how colleges charge and spend their money. </p>
<p>Using the data at Collegeresults.org, and comparing Elon to a few other LACs that our d has been looking at (Muhlenburg, Juniata, Ursinus, Denison and Wooster), the faculty to student ratio is 14 to 1 for all but Denison and Wooster (11 to 1). Elon is in the middle for Instructional Expenditures per student, but the amount spent on Educational and General Expenses per student at Elon is less than the others (Elon=$21,900/yr; Denison= $32,600/yr). This category includes research and academic support, among other things. Is it in these categories that Elon saves money? </p>
<p>For example - Elon’s merit aid is generally the $4500/year Presidential scholarship for top students and there is also merit money for the Fellows program. But nothing like say University of Miami or Tulane - where the top merit awards are $20,000+ - but coming off a $50,000+ pricetag.</p>
<p>I have one at Elon and one about to graduate from Wake Forest, which costs about $16,000 per year more. They are in the same geographic area, roughly same size campus and student body, etc. Wake Forest may rank higher, but other than that, no huge difference that I see. Wake Forest costs more, so they do give more aid. Does that make sense? It causes resentment between students who are full pay and those who receive FA. There is a wide disparity at a pricy college as far as how much various students pay to attend. Personally, I like Elon’s approach better. Set a realistic price and less game playing.</p>
<p>The other side of the coin is that a lot of really qualified students don’t apply to Elon because of the relatively low merit aid. It seems that if you receive the Honors Fellowship along with the Pres scholarship it is still only $16.5k. Which is pretty good but still leaves a hefty check to write. Many schools that are very similar to Elon offer some full-tuition and even full ride scholarships to the top students. If my D was offered a full tuition at say Furman and $16.5k at Elon, it would make Furman a no brainer.</p>
<p>Reading Transforming a College will also tell the story of how Elon is fiscally responsible with investments and allocations of funds for reaching and physical plant. </p>
<p>In regards to OP’s question: Elon has several new dorms, new stadium facilities, and new dining room and conference facilities. It would behoove you to visit. there is is a reason that Elon is names most beautiful campus in the US.</p>
<p>I can also say that we have been extremely impressed with all the opportunities our S has had during his freshman year. None of his friends have had this much support and exposure to their faculty, or have participated in as many programs and organizations.</p>
<p>There is a culture at Elon that no matter the price, ratios, expenses permeates the campus. This is due to the visionary leadership under Leo Lambert. You feel this when you are on campus and through all the Elon communications throughout the year.</p>
<p>Elon definitely is building tremendous new dorms. And you can get whatever you want for food on campus, including sushi! They’re sparing no expense on construction. I would say the lower merit aid is the difference. DD received merit offers from multiple schools, including Presidential and Honors money from Elon. When all was added up, the net result came out to about the same $$, but it just “felt” less impressive from Elon because the merit aid $$ were less. Which is silly, but it’s like grade inflation, and Elon has decided not to play the game. Elon also gets fewer applications because they don’t use the Common App, so that also artificially deflates their ranking. Elon students do a tremendous amount of research, and do well competing in national fellowship programs. The winter term is a bonus, especially for students who want to study abroad but have majors that make an entire semester abroad difficult (science majors particularly). There aren’t a ton of STEM majors, but that’s typical for a school like Elon. However, the programs have been increasing in size, and biochemistry was recently added as a major. Based on personal experience, I do believe it’s the “if it’s cheaper” mindset - people like to brag about the $15,000 scholarship, when the $5,000 from Elon brings you to the same net price.</p>
<p>My D will definetly apply to Elon. According to the CDS, she will be in the top 10% of all admitted students. My understanding is that the top scholarships available at Elon combined would be $16.5K. If that is correct, then the out-of-pocket cost would still be pretty high. Higher I suspect than the out-of-pocket will be at other similar schools.</p>
<p>Bigdaddy that was the case with us. Our D could have gone elsewhere cheaper because of merit scholarships. But we love everything about Elon and know that it’s the perfect match for her, and will give her the best education for her style of learning. Beyond that though, I love the fact that they don’t inflate the cost of attendance so that rich kids’ tuition payments supplement the financial aid for other kids. I just love the way Elon does things overall. From what I can tell it’s a high integrity, well run institution with a vision and I feel really good about contributing to that. </p>
<p>Make sure you visit campuses and learn about the schools she is applying to. When you get offers from other schools you’ll be able to compare and decide what works best for you and your daughter’s future.</p>
<p>Interestingly, people who live in North Carolina consider Elon to be expensive and can’t understand why so many Northerners send their kids to the school. Then I show them total COA for comparable schools in the NorthEast. Big, big difference… but then again, people in NC are comparing against the state university system, which is far less expensive and boasts some amazing schools. It’s all relative…</p>
<p>I have been absent from this board since my daughter enrolled 4 years ago. Graduation this weekend! Overall it was a very good experience for her, although the dominance of greek life bothered her for a while. From what I remember when I looked into the same question as the OP, I believe Elon also does not meet 100% need. Financially it seems to be a good fit for strong but not necessarily top students that would not get need-based aid elsewhere. Because they give less aid (both merit and need) everyone pays much closer to the same amount to attend. Perhaps as a result, there are a lot of well off kids attending Elon. We saw no evidence that they short changed the students on anything, education or amenities.</p>
<p>I guess at this point what I’m thinking a lot about these days is out-of-pocket expense. I realize that this is not the most important factor in choosing a school…but it is pretty important.</p>
<p>So, COA is irrelevant. When acceptances and merit packages come in, we will be comparing apples to apples based on OUR cost. Not COA. Does that make sense??</p>
<p>Yes, but that’s where you have to understand Elon’s philosophy. They charge less overall than many comparable schools. But, they also don’t throw full rides at lots of top students and subsidize those students with other students paying a full, inflated load. If you are a top student looking for a full ride, Elon probably isn’t going to make you the most attractive offer. If you’re a great student looking for a terrific school at a reasonable cost, Elon is a great fit.</p>
<p>I get the concept. It’s a wonderful idea IF your kid is not in the top 15% of applicants at that school. It provides a great education at a “reasonable” price. So, overall it benefits the vast majority of Elon students. If however, your kid is in the very top of the applicant pool, the reward is not there.</p>
<p>Believe me, I’m not interested in changing the culture at Elon. This model is obviously working for them. I still believe they could offer 10-15 full-tuition scholarships without increasing their fees.</p>