![Ivy League universities are becoming even more selective in light of the growing number of applications](jpg/107052034-16510156261651015623-22820292099-1080pnbcnewseb45.jpg)
March 30 is “Ivy Day,” when many Ivy League schools release those long-awaited admissions decisions.
More than ever, admission to the Ivy League is considered highly desirable; however, when it comes to this year’s top dream school, MIT comes out on top, according to a recent survey of students and their families by The Princeton Review.
Colleges that rank high on students’ wish lists are “consistent favorites,” according to Robert Franek, editor-in-chief of The Princeton Review. They are also among the most competitive: MIT’s acceptance rate is just under 4%; at Harvard it’s about 3%.
Emerging from the pandemic, a small group of universities, including many in the Ivy League, experienced a record increase in applications this season, according to a Common Application report.
The report found that application volume jumped 30 percent from the 2019-20 school year, even as enrollment declined across the country.
“There’s a subconscious consensus that it’s only worth going to college if you can go to a college that will change your life,” said Hafiz Lakhani, founder and president of Lakhani Coaching in New York.
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For students who don’t fall into their top choices, use this opportunity to revisit other schools or consider transferring down the road, advised Eric Greenberg, president of Greenberg Educational Group, a New York-based consulting firm. “Realize that you’re really making a one-year commitment.”
It can also serve as an important lesson for future candidates, according to Christopher Rome, president and CEO of Command Education. “It’s not just about the best grades and test scores,” he said.
“Decision letters from top schools are a reminder of the importance of compiling a balanced list of colleges, honing their interests to convey a uniqueness of focus, and starting early in the process.“
National College Decision Day is just weeks away
Students now have just a few weeks to figure out which college they’ll attend before National College Decision Day on May 1, and how they’ll pay for it.
Most college students and their parents say affordability and dealing with the debt burden that often goes hand-in-hand with a college degree is their top concern, even when getting into the school of their choice, according to The Princeton Review’s 2023 College Hopes & Anxieties Survey.
A whopping 98 percent of families say financial aid will be needed to pay for college, and 82 percent say it is “extremely” or “very” necessary, The Princeton Review found.
“Financial assistance is needed now more than ever,” Franek said.
Don’t just look at the sticker price
“Never cross an expensive school off your consideration list based on sticker price alone,” Franek said. Consider the amount of aid available, as private schools typically have more money to spend.
“Many of these schools give out significant scholarships — it’s free money.”
For example, although MIT is among the most expensive institutions in the nation—tuition and fees, room and board, and other student expenses reached more than $79,000 this year—it also offers generous aid packages to those who qualify.
Last year, the average annual cost paid by a student receiving financial aid was less than $20,000, according to the school.
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