Students and parents often worry about the cost of going to college. Unlike most goods and services people buy, college education is hard to price because the figures that schools post are usually different from the amount the student will actually have to pay. That is due to the element of “financial aid” the school will give. Once they have a student hooked, school officials figure out how much of a discount to give, based on their perceptions of the family’s ability to pay.

In today’s Martin Center article, Zev van Zanten looks at this issue and argues that the government ought to do something about it.

He writes:

Go to any college’s website, and you’ll likely see a precise figure for what it ostensibly charges, usually split into tuition, room and board, and assorted fees. But after scholarships, discounts, governmental aid, and various other deductions, the average student’s cost is not the sticker price. Often, it is not even close. As a result, it is challenging to know what a college actually costs before you get admitted and see your financial-aid offer.

Thus, students often see college cost figures that are significantly higher than they would actually have to pay. That probably deters some from applying to colleges they could afford.

What could be done? Van Zanten offers some ideas. Read the whole thing.