2013 College Cost BCS: University of Florida vs. University of Louisville

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 Sugar Bowl

Florida returns to the Sugar Bowl for its ninth time, while Louisville makes its first appearance. But Louisville is conference champion. On the field, their records are close, but will they stay neck-and-neck when we look at their costs?

1st quarter: Student loan default rate

Louisville narrowly makes a field goal with its default rate at 7.7 percent, thisclose to the national average for public, four-year universities. It’s good, but no one’s celebrating. Florida scoffs and marches down the field into the end zone, thanks to its lower rate of 3 percent.

Florida 7 – Louisville 3

2nd quarter: Tuition increase

Florida’s victory dance doesn’t last long, though. The Gators increased tuition by 12.2 percent, about 4 percent more than the average (which is already too high). The Cardinals do a little better (6 percent), but still far above the rate of inflation. They settle for a field goal before the half.

Florida 7 – Louisville 6

3rd quarter: Net price

Neither team can get within the red zone, so both go for long-shot field goals. No good. Florida’s sticker price of $11,579 and Louisville’s $12,169 make it hard for students to attend without going into debt. They’re scoreless in the third.

Florida 7 – Louisville 6

4th quarter: Debt-to-credential ratio

Louisville only needs a field goal to win it, but this quarter is an all-or-nothing touchdown based on the institution’s ability to graduate students with little debt. Florida plows through the Cardinals, leaving them dejected on the field, with a ratio of $6,086—that’s $10,000 less than Louisville’s (embarrassing) ratio.

Final score: Florida 14 – Louisville 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. Check back tomorrow for the Fiesta Bowl, plus the National Championship next week. If you missed them, the Rose and Orange bowls are already available.

Photo credit: allstatesugarbowl.org