Committed to Keeping a Quality Private Education Affordable
Administrators of The Sage Colleges -- as educators and parents ourselves – have looked beyond campus and share the concerns that seemingly dominate the media and political dialogue today: collegiate education has never been more important, yet concerns about paying for college have never been more strident.
In response, we proposed – and our Board of Trustees approved – the "Sage Price Promise," which guarantees new undergraduate students a fixed tuition rate for their four years at Sage. [Read more about the "Sage Price Promise" approval »]
[Admission Price Promise]
Sage enacted this promise for a number of reasons:
- Rising cost: The price of a college education has tripled in one generation, when calculated in to-day's dollars, according to The National Center for Education Statistics.
- Consumer understanding: A recent study by the College Board shows that most families don’t understand the difference between "sticker price" and their actual cost, after financial aid. Only about 10 percent of families have used a Net Price Calculator, an online tool for estimating the bottom-line cost to attend a specific college or university.
- Making sacrifices: Delivering a quality education is expensive and labor-intensive, but all colleges have room to trim costs that have driven up overhead expenses and led to the price-tripling we have experienced.
- Social good: College is an investment, in which everyone – from students to parents to government – has a stake. Higher education should be attainable for those who wish to experience its benefits and student debt should be an acceptable cost for those benefits.
We believe the Sage Price Promise will be good for families and for the college. Having held undergraduate tuition and fees flat for the past four years while realizing 25 percent enrollment growth – with corresponding increases in revenue that support qualitative improvements to students' experience – we see little risk and much reward.
An acquaintance from Chicago wrote to me and said, "Dan - saw your news today about the tuition freeze. I and many other parents applaud your effort." We hope this move will be a challenge and inspiration for high-er education to continue to strive for sustainable affordability.
- Dan Lundquist, Vice President, March, 2013