Grace College and Independent Colleges of Indiana Hold Lower Tuition Rates
Recent research from the Independent Colleges of Indiana (ICI) shows that Grace College and the remaining 30 member schools, on average, have lower tuition costs than other independent colleges nationwide, as well as lower tuition than out-of-state students at Indiana’s major public universities.
On average, independent colleges across America cost students $27,793 each year. ICI found that the average tuition among its member schools was $25,547 – which, over four years, amounts to nearly $9,000 saved. Indiana’s two major state schools, Indiana University and Purdue University, required out-of-state students to pay $27,688 and $26,622 respectively.
According to ICI, “Tuition for out-of-state students attending either the IU or Purdue main campus is a more accurate reflection of the actual cost of attendance without benefit of the state subsidies provided to these institutions by taxpayers.”
Though Grace College already has lower-than-average annual tuition costs ($21,700), the college is taking additional measures to lower the price tag on higher education. It has cut the cost of earning a Bachelor’s degree by up to 50 percent by creating a three-year accelerated degree program. The accelerated track option, which will begin in Fall 2011, will allow students to eliminate one full year of college costs and begin earning in the workforce sooner.
Since Grace introduced the program in June, applications have risen 18%.
Grace College Provost Dr. Bill Katip said that though initially the idea of a private education may seem out-of-reach, “More families seem to be reaching the realization that a Grace education really is affordable. Our three-year accelerated degree option is making inroads to help meet the financial needs of Hoosiers and other families from the Midwest.”
The idea of the accelerated degree began receiving national and political consideration last fall when Sen. (R-Tenn.) and former U.S. Secretary of Education Lamar Alexander publicly addressed the need for three-year options in higher education.
Grace College is an evangelical Christian community of higher education which applies biblical values in strengthening character, sharpening competence, and preparing for service. The academic, residential, athletic, and social aspects of the college are designed to encourage intellectual and spiritual growth in a supportive campus community. The 180-acre campus is located in the historic resort town of Winona Lake, near Warsaw, Ind. It has historically been among the top schools of its size and is listed in U.S. News & World Report as one of America’s Best Colleges. The Princeton Review has regularly awarded it the title of a “Best Midwestern College.”