Like bidding for a discount hotel room or airplane ticket, you can now name your own price online for a college education.
Based on students' academic and financial profiles, www.eCollegebid.org matches a family's ability or willingness to pay for college with an institution's desire to offer tuition discounts.
"What this site does is expand the reach for colleges in terms of recruiting, and lets students know about colleges that are interested in them," eCollegebid executive director Tedd Kelly explained. "It's like introducing blind dates to each other."
Since its launch Oct. 1, the e-business has grown to include 12 schools and about 1,100 students, said Kelly, who was an enrollment management consultant for colleges and universities for 33 years.
"We have 12 [schools] now, and another that will probably join tomorrow," he noted. "I'm in communication with seven or eight others."
Jerry Pope, vice president for admission practices at the National Association of College Admissions Counseling, said he has concerns that eCollegebid overemphasizes the importance of money in choosing a college or university.
'The mighty dollar'
"[eCollegebid] is focused on the bottom line, the mighty dollar," said Pope, who is also assistant dean of Illinois Wesleyan University.
"Students are losing focus as to what college is all about," Pope said. "Choosing a college is a much bigger decision than shopping for a good deal on a hotel room or a plane ticket. Money is one of several factors. It's all about finding the right match."
Kelly noted, however, that for many people, money is a major factor in choosing a college.
Costs
"Cost for some families is the final determinant or deterrent," he said. "What eCollegebid does is get the money question up front and part of the discussion in the beginning. That way, the student doesn't get emotionally involved [with a school] and find out in April that they can't afford to go there."
One of the 12 institutions eCollegebid has attracted is Seton Hill College in Greensburg, Pa."Our first reason for joining was to be on the Internet, where people are looking," said Barbara Hinke, vice president for enrollment services at Seton Hill.
Hinke also said it is beneficial to talk about money early in the application process.
"We believe that it's a conversation that has to take place. I think it's healthy to talk about it and early on," she explained, reiterating Kelly's belief that by using the Website, students can avoid applying to schools their families cannot afford.
Pope cautioned, however, that the site guarantees the financial bid only for the first year of college. "Read the fine print," he said. "The bid is only good for the first year. I would not want to do business with a company that only guarantees it for one year."
"I would encourage a more traditional approach to college," Pope said. "I think it's more important that a school is more interested in [a student] as an individual."
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