Tuition

With the 2012 election only weeks away, Pres. Barack Obama and Gov. Mitt Romney are furiously campaigning for that segment of undecided voters that could make or break their efforts.

At the top of nearly every list of voter concerns this year, of course, is the economy. And because one of the keys to growing the economy is an educated workforce, voters are anxious to hear where each candidate stands on higher education. For the most part, the discussion centers on two issues—affordability and accountability—and the differences are stark.

• Emphasize the cost savings. By paying even a portion of their tuition through an installment plan now, rather than amassing larger post-college debt, families can save big.
• Make it multichannel. Communications about the option should ideally be on-paper (mailed and posted on campus), online, via email, and by phone. 
• Reach out often. Students and parents should hear about the payment plan option several times during both the admissions process and after enrollment—and especially when financial aid programs are explained.
• Be ready for questions.

The cost of a college education continues to rise, despite declining consumer ability to pay for it. And with 70 percent of college students and parents agreeing that college is needed now more than ever, according to Sallie Mae’s “How America Pays for College 2012,” finding an affordable institution is key. The College Board’s annual report on “Trends in Pricing” states that the total cost of attending a four-year public university rose 6 percent in-state and, at four-year private universities, costs rose 4.4 percent in the last year.