Cheaper education gaining popularity

INDIANAPOLIS (WISH) - When the economy gets bad, the least expensive colleges and trade schools historically see big spikes in enrollment. The trend appears to forming now, leaving Indiana's private colleges worried.

Kenna Boswell of Winamac has been accepted to the University of Indianapolis. She needs more financial aid now than when she applied.

"There is money out there. It's just trying to be one of the few to get it," said Boswell.

"We had quite a bit of money set aside in investments, and all of which have not done real well in the last while, which has taken a big toll on how we're going to pay for all of this," said Kenna's father, Kenneth Boswell.

UIndy's tuition is just over $20,000. It is expected to go up about four percent next year but enrollment may go down. Admissions director Ron Wilks is wooing families. He says students could get a bigger payoff from a smaller, private school.

"I think you have to do a little bit more of the relationship building. A little bit more of educating the students and families on what you have to offer," said Wilks.

Hans Gieseke is president of an organization representing all 31 independent Indiana colleges. He says they offer high levels of financial aid as long as possible.

"And you're going to find the colleges in our sector bending over backwards to meet the needs of students," said Gieseke. "Many will have to dip considerably into their endowments to do that."

The big question is how long and how wide and how deep is the downturn going to be? If history repeats itself, state universities can expect a spike in applications, especially at their regional campuses.

Ivy Tech Community College is expected to benefit from the bad economy. Its student enrollment is up 12 percent already this year as people are looking for job retraining. Despite the bad economy, educators hope high school graduates won't decide to skip college in favor of a dead end job.