Application fees generate thousands, millions for some colleges, study shows
3:29 PM, Nov 8, 2018
4:22 PM, Nov 8, 2018
Students across the country are busily preparing the application packets they'll send to the institutions of higher education they hope to attend in the coming fall.
Besides the stress and time it takes to complete and disburse these materials, applicants almost always pay a fee to the schools as well. Some colleges charge as little as $10 for an application fee, while some charge closer to $200, with the standard being around $50, according to LendEDU, an education financing company.
As those fees compile from the hundreds or thousands of students who hope to gain entrance to college, schools can accrue a significant amount of revenue, often in the millions of dollars.
Six schools from the University of California system occupy the top six spots on LendEDU's list of most revenue from total applications, with UC Los Angeles taking the top spot, earning $6,797,840 from 97,112 applications that require a $70 fee each. Cornell University generated the most of any Ivy League school, totaling $3,597,200 off of 44,965 applications that each carry an $80 fee.
Several Maryland schools are scattered among the top 500 as well, with the state's eponymous institution landing in the top 50:
No. 44 University of Maryland-College Park - $2,271,825 ($75 fee, 30,291 applications)