Buyers and sellers

Jeff Selingo, author of Who Gets In and Why, provides a useful perspective on which colleges and universities are “buyers,” which are more likely to provide merit-based financial aid, versus “sellers,” which tend to be more generous with need-based aid.

Selingo describes the sellers as the "haves" of admissions. They receive an overwhelming number of applications, many of which are from top students. They do not have to lure students with tuition discounts to fill their classrooms. Most sellers only provide financial support to those who actually need it or are truly exceptional.

In terms of admissions, the buyers are the "have-nots"—despite the fact that they may provide a better undergraduate education. Rather than "select" a class, admissions administrators must work hard to recruit students and offer tuition discounts through merit aid to fill classroom seats and beds.

The search for the right fit in a college should result in one that measures up in three ways: academic, social, and financial. But too often, when students and their families start looking for schools their quest is guided by academic and social needs as well as geography.

While cost is a concern, families have only a hazy idea of what their tuition bill might look like. So they don’t think about the price of college until it’s too late.

Check out Selingo’s helpful video on “buyers” and “sellers.”