Archimedes Systems, Inc.

Archimedes Updates College Cost Data, Finds Some Good News

Tuesday, 23 June 2009 16:08

FOR IMMEDIATE RELEASE

Waltham, MA – July 15, 2009 - Archimedes Systems, a leading provider of college planning tools, has updated its extensive college cost database for the 2009-2010 school year and analyzed the data.  In so doing, they have discovered some encouraging data that should instill optimism in the minds of many parents and grandparents facing the challenges of paying for higher education for their children and grandchildren.

According to Mary Nickeson, Director of College Planning Solutions at Archimedes Systems, “Too often, today’s headlines focus on the enormous cost of attending the nation’s most expensive ’premier’ schools – and that can create a sense that funding college will be well beyond a family’s financial means.  The result: many people get discouraged and do nothing.”  Ms. Nickeson continued, “Although college costs do continue to rise, there is considerable variation in tuition and fees across institutions. Also, saving even small amounts on a regular basis can make a large dent in a family’s college-funding goal.  Recognizing these facts can be very motivating to people.”

The data gathered by Archimedes Systems suggests that on an annual basis, better than 30% of four-year public and private schools have tuition and fees under $10,000, nearly 60% have tuition and fees under $20,000 and more than 85% have tuition and fees under $30,000. Further, in the arena of four-year public schools, approximately 50% have in-state tuition and fees under $6,000, while 95% have in-state tuition and fees under $12,000. The bottom line is that less than 10% of all students attend colleges with tuition and fees in excess of $35,000 per year. And, while these statistics exclude room and board, books and supplies and other non-fixed college expenses that vary much less across institutions, the findings underscore that there are many affordable options.

The updated college cost data, including tuition & fees and room & board, will be incorporated into a new College Planning Budget Calculator to be released by Archimedes for the 2009 back-to-school season.  The updated data is also being incorporated into many of Archimedes’ existing college financial planning tools that appear on the web sites of many major financial services companies.  These tools include:

• College Savings Planner
• 529 College Savings Tool
• Cost of Waiting Calculator
• Education Funding Planner
• Financial Aid Planner
• College Cost Calculator

“We frequently hear of people making investment decisions based on a number they’ve pulled out of the air.  Our web tools and the updated college cost data contained by them, give users a more realistic set of assumptions to work with, as well as a roadmap to the best ways to save for college, through engaging, user-friendly and interactive technology,” says Nickeson.

About Archimedes
Archimedes is a leading provider of web-based college planning, retirement planning, personal finance and personalized communications tools and services that inform, educate, and motivate employees, participants, advisors and individuals.  Archimedes provides college planning tools that help consumers increase their confidence as they make savings and investing decisions, ranging from interactive “what-if” modeling tools to 529 Plan comparison tools to professional report generation applications used as sales or decision-support tools.  Since 1991, Archimedes has been providing services and designing, building, and hosting customized applications for Fortune 500 and other clients.  For more information, visit www.archimedes.com or call 781-647-1110.