The hidden price of college: Three perspectives on how families can navigate their most important financial decision

The high and rising sticker price of college gets a lot of attention and causes families a lot of grief. But research by Brookings Nonresident Senior Fellow Phillip Levine and others show that most students don’t pay full price. Even if the “net price” students actually pay is lower than the numbers featured in headlines, college is expensive, and financial aid is complex and opaque. The process of choosing a college and figuring out how to pay for it is one of the more consequential financial decisions families make, and they are often operating in the dark.

On October 27, three experts will discuss how families can navigate these decisions to choose a college that is a fit not only academically but also financially, and what changes are needed to improve the process.

Phillip B. Levine, an economist at Wellesley College, is the author of “Hidden Tuition: An Insider’s Guide to College Pricing and Financial Aid” and “A Problem of Fit: How the Complexity of College Pricing Hurts Students—and Universities” (both University of Chicago Press), and created MyinTuition to help make college pricing more transparent. Ron Lieber, the “Your Money” columnist for The New York Times, is the author of “The Price You Pay for College,” a roadmap for families making these decisions. He also teaches an online course on merit aid and merit scholarships. Christina Lopez, former dean of enrollment management at Barnard College, sat at the table where admissions and pricing decisions are made and now works directly with families navigating the process as the founder of The Dean’s Desk. Their conversation will be moderated by Cabot Family Chair Sarah Reber, a senior fellow in the Center for Economic Security and Opportunity at Brookings. 

Viewers can submit questions via email to [email protected].