The secret economics of maximizing college financial aid (and why it’s not as miserable as you think).

In the college admissions process, a terrifying unknown looms large: How much is this really going to cost? For prospective students and their families, there’s no easy answer. While college prices continue to rise, so do their promises of financial aid for qualified students. But who qualifies? And for how much? How can this monumental life decision be so utterly impossible to understand?

Hidden Tuition is an insider’s guide for navigating college financial aid to maximum effect and with (relatively) minimal pain. Economist and financial-aid expert Phillip B. Levine draws on his unique experience—including years of research in higher-education finance and work alongside admissions and financial-aid departments—to help readers first identify, then minimize, what they’ll actually pay for different types of colleges based on their circumstances. With expertise, clarity, and the warmth of someone who’s been through it, Levine details how students can find the hidden tuition costs in the opaque landscape of college pricing and financial aid. He explores topics that include:

• Why college’s “sticker prices” are rarely what students pay—and how some actual prices are even going down
• The best, worst, and most surprising deals for students with different financial resources
• How to navigate financial aid for divorced and multi-residence households
• Who really benefits from early decision
• How the nature of scholarships and merit-based aid is often framed in misleading ways
• The pros and cons of college savings accounts
• When and how to get started on college financing
• Why all student loans aren't the same (or aren't all that bad)

Debunking common myths and offering practical guidance for both families and individual students, Hidden Tuition makes a maddeningly imperfect process more manageable—and gives students a clearer path through one of life’s biggest financial decisions towards collegiate success.

A critical examination of the complex system of college pricing—how it works, how it fails, and how fixing it can help both students and universities.

How much does it cost to attend college in the United States today? The answer is more complex than many realize. College websites advertise a sticker price, but uncovering the actual price—the one after incorporating financial aid—can be difficult for students and families. This inherent uncertainty leads some students to forgo applying to colleges that would be the best fit for them, or even not attend college at all. The result is that millions of promising young people may lose out on one of society’s greatest opportunities for social mobility. Colleges suffer too, losing prospective students and seeing lower enrollments and less socioeconomic diversity. If markets require prices to function well, then the American higher-education system—rife as it is with ambiguity in its pricing—amounts to a market failure.

In A Problem of Fit, economist Phillip B. Levine explains why institutions charge the prices they do and discusses the role of financial aid systems in facilitating—and discouraging—access to college. Affordability issues are real, but price transparency is also part of the problem. As Levine makes clear, our conversations around affordability and free tuition miss a larger truth: that the opacity of our current college-financing systems is a primary driver of inequities in education and society. In a clear-eyed assessment of educational access and aid in a post-COVID-19 economy, A Problem of Fit offers a trenchant new argument for educational reforms that are well within reach.

A substantial number of American children experience poverty: about 17 percent of those under the age of eighteen meet the government’s definition, and the proportion is even greater within minority groups. Childhood poverty can have lifelong effects, resulting in poor educational, labor market, and physical and mental health outcomes for adults. These problems have long been recognized, and there are numerous programs designed to alleviate or even eliminate poverty; as these programs compete for scarce resources, it is important to develop a clear view of their impact as tools for poverty alleviation.

Targeting Investments in Children tackles the problem of evaluating these programs by examining them using a common metric: their impact on earnings in adulthood. The volume’s contributors explore a variety of issues, such as the effect of interventions targeted at children of different ages, and study a range of programs, including child care, after-school care, and drug prevention. The results will be invaluable to educational leaders and researchers as well as policy makers.