2013 College Cost BCS: Florida State vs. Northern Illinois

The College Cost BCS, in its second year, aims to bring attention to college affordability through football’s coveted college bowl games. What if these teams didn’t play ball and instead, faced off on how well they keep education affordable? Admittedly, the teams here are not a representative sample of higher education in America (nor are they the best in college sports, ahem). They do, however, characterize a wide swath of geographic areas and student populations. So let’s have fun, and play ball!

The Orange Bowl

In probably the least expected bowl matchup of this season, underdog Northern Illinois will face Florida State in the Miami Dolphin’s stadium. While the Seminoles will be favored on the field (sportswriters are already wearing out their “David and Goliath” metaphors), can they hold their own when it comes to college costs?

1st quarter: Student loan default rate

Both universities post student loan default rates below the average, although the Huskies (7.4 percent) barely make it past the goalposts. Florida State has an easier time kicking it in (5.2 percent), but neither school comes close to the red zone.

FSU 3 – NIU 3

2nd quarter: Tuition increase

Florida State increased its tuition by 11.2 percent—3 percent more than the average increase. Fans—mostly students—throw cups on the field. Northern Illinois tries to boast its 6.4 percent tuition increase, but referees step in: That’s still more than 3 times the rate of inflation. The Huskies kick a field goal instead.

FSU 3 – NIU 6

3rd quarter: Net price

Both schools exceed the average price tag for a public, four-year university, effectively pricing students out of an education. After grants and scholarships are considered, students at Northern Illinois pay $16,568 in tuition and fees; students at Florida State pay $12,464. Students on both sides begin to commiserate together.

FSU 3 – NIU 6

4th quarter: Debt-to-credential ratio

The Huskies are up by three points. They can shame the Seminoles in their own state if they graduate more students with less debt. Too bad their debt-to-credential ratio is $19,485, about $9,000 more than Florida State. While the Seminoles take the field in celebration, Huskies fans stomp out—and consider transferring to a more affordable institution.

Final score: Florida State 10 – Northern Illinois 6

Methodology

1st quarter: Student loan default rate

• Field goal: Lower than the averages, (7.9 percent for public, four-year schools and 7.3 percent for private, four-years).
• Touchdown: Lower than average national bank card default rate, 3.58 percent.

2nd quarter: Tuition increase

• Field goal: Lower than the averages, (8.3 percent for public, four-year institutions and 4.5 percent for private, four-years.)
• Touchdown: Lower than the rate of inflation, 1.8 percent.

3rd quarter: Net price

• Field goal: Lower than the average, ($10,080 for public, four-year universities and $21,020 for private, four-years.)
• Touchdown: Lower than the first-year Stafford loan limit of $5,500.

4th quarter: Debt-to-credential ratio

• A touchdown goes to the team with the lowest ratio.

Complete details on our methodology can be found here. Also, don’t forget to see today’s other game, the Rose Bowl. And check back for the Sugar and Fiesta Bowls, as well as the National Championship next week.

Photo credit: OrangeBowl.org