Some colleges are having trouble attracting enough students for this coming fall
This might turn into an advantage for some families.
Syracuse University, for example, has been upping financial aid offers to students who were accepted but decided to commit to other schools.
Mason Cira of Medfield recently got an email out of the blue from Syracuse offering him an $80,000 scholarship spread out over four years.
While a big scholarship is usually exciting news for someone heading to college, this email didn’t sit right with Mason’s mother Jen.
“The analogy that I keep using is that it’s like being asked to the prom, after everybody else said no, five days after the dance.”
She didn’t like the idea of them making this offer after the May 1st commitment date, which most schools abide by.
By the time they received the email, Mason had committed to and was very excited about James Madison University in Virginia.
The recent high school graduate said, “I think it’s just a way to try to pull students in. One of the kids in my grade was initially going to another school, and they got so much money from Syracuse that they actually did end up switching to Syracuse.”
Gregg Cohen, the founder and president of Campus Bound in Needham, said this action by Syracuse is unprecedented.
“This is highly unusual for schools to be throwing money at students.”
It’s no secret that many colleges are having trouble keeping their enrollment numbers up.
“What we’re seeing is colleges aren’t really making their enrollment number goals,” said Cohen. “Because of a number of factors, like things they were expecting, like the enrollment decline because of demographics, but also the recent issues like international students being able to come here.”
Last week, we reported that Clark University is laying off about a third of its faculty as the student body shrinks on its Worcester campus.
“If you’re a school like Syracuse that is charging $85,000 or more per year, a big university with a nice social life and a beautiful campus, but if you can get that at a comparable school, like a flagship public university like a the University of Connecticut for $60,000 at full price, people are starting to make that financial decision.”
Cohen said schools had to leave any seats empty, even if it takes extra aid to fill them.
“So, if they haven’t hit their enrollment goals, they would rather have most of the tuition from a student than no tuition because college is a perishable good. If they don’t meet their enrollment goals, that bed is unused.”
As a result, parents should be assertive about reaching out to a school, even after committing, and asking for more money.
Cohen said he’s seen colleges be more receptive when they’ve been asked to increase their original offer.
“I saw a statistic recently that about a third of students ask for more money, appeal for more money, and 70% of those students receive something in the form of grants or scholarships.”
Mason would have been a third-generation “Orange Man”.Despite her connection to Syracuse, this last-minute pitch left a bad taste in her mouth.
Still, she thinks Mason found a school that’s a good fit, and that’s what counts.
“I don’t think it’s a great way to conduct business, and I don’t think it’s great for your reputation, but again, this is a numbers game, so they do what they have to do. But literally, and figuratively, it felt like a day late and a dollar short.”
Some parents or students might be worried that if they approach the school they’re now planning to attend and ask for more money, there might be some backlash.
Cohen says schools are used to hearing appeals, and more importantly, they don’t want to risk losing a student who has committed. Bottom line – he doesn’t see any risk.
We reached out to Syracuse University, who delcined to comment on the story.
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