This significant amount of tuition discounting, the wide variation in the amount of aid granted and the uncertainty around the true price results in an imperfect market for higher education and does a disservice to students, their families and American higher education in general. Because buyers can’t know what they will actually pay until the acceptance letter arrives, many students don’t apply to schools that they should consider and others apply to schools that they can’t afford assuming that they will get all the aid they need only to find out that they can’t afford them once accepted. In this last year, 26% of students who were accepted at their first choice school didn’t attend it because they were not offered aid and 40% said not being able to afford their first choice school was a very important consideration in their not enrolling at that school.(The American Freshman National Norms: 2013)