While college costs have continued rising, median incomes over the same period have not increased at corresponding rates, as we first posted here. The failure of income to rise at the same pace as college costs increases can place greater pressure on family budgets, potentially restraining college choices. Thus, families may spend more effort in investigating potential…
Tag: Fiscal plan
Losing Sleep Over College Affordability Concerns? You’re Not Alone.
Families attempting to determine college affordability can be subjected to acute bouts of insomnia. The predicament of framing the pros and cons of each college choice for their children can be, at times, daunting for parents. Parents face the dilemma of defining the value of a future outcome–a college degree with all of its attendant…
What is Financial Aid?
After talking with 200 parents and students yesterday evening at a local Sacramento area College Fair about financial aid, I wanted to offer additional advice, as families continue working to fund rising college expenses. Then, the general sense of nervous anticipation about the expense of college amongst last night’s group can be used to fuel…
College Admissions Can Seemingly Provoke More Questions Than Answers
Questions abound when parents and students are moving through the college admissions process, especially when everyone has a story to tell about who got in where and the media reports the falling admit rates at selective universities around the country, as well as annually rising college tuition and increasing average student loan amounts. A…
Salary: Only One Measure of A College’s Worth
“To get a good job,” is an oft heard reason why a student is headed to college, usually stated while their parents nod vigorously in the background. A recent New York Times article–New Metric for Colleges: Graduates’ Salaries–discusses the merits of using a college graduate’s average earnings as a measure of a campus’ value, which…
General Thinking According To Google Trends
What’s on people’s minds… Hat tip to zerohedge.com (8/21/2013)
How to Reduce College Costs
The “sticker shock” of college tuition rising at 1140%, as we posted here, can overshadow the need to calculate living and housing expenses, as part of the overall costs for college. Yet, families who budget for ALL college expenses for 4 years, not just year-to-year costs, are prudent and may find ways to save money. …
Private Universities May Not Cost More Than A Public University, In the Final Analysis
Dismissing a college based only on cost, as many families tend to do when considering private universities, may overlook a valuable choice for an individual student. The following podcast discusses how to “value” a public university in relation to a private university, as well as offers tips for planning for future college expenses. For more…
College Costs: Myth vs. Reality
A tongue-in-cheek look at rising college costs, yet gives another incentive for college bound teens to think thoroughly about their college choices.
Paying for College vs. Saving for Retirement, Round 1
Worries about paying for rising college costs can be compounded by concerns over saving for retirement. As seen in the chart below, with average retirement savings of people aged 45-54, the general age range of parents with college-aged children, at $10,100, can explain parents’ concerns. The Baby Boomer group just ahead in age (55-64)…
Is College Financial Aid Really Aid?
The difference between the value of college, indicated by price and intrinsic worth, and what a family feels they can afford to pay creates the need for financial aid. But, college bound buyer beware: NOT ALL FINANCIAL AID AWARDED BY THE UNIVERSITY IS ACTUALLY AID.
Paying for Childhood: Average Cost of Raising Children
Wondering how your parents were able to raise multiple kids (and none of you felt deprived) on a single income back in the day? A new report by the U.S. Department of Agriculture estimates families with children born in 2012 will spend an average of $241,080 in the next 18 years to raise their offspring–NOT…
1140% = Increase In College Tuition Since 1978
Another chart showing college tuition is increasing at a steepening rate: And is causing families to spend a greater portion of the family budget to pay for college expenses, thus making college “more expensive”: (If unable to view chart, click)
Paying For College Tuition
Student loans, grants and scholarships are replacing parent income and savings in paying for college. Source: Wall Street Journal
If You Need Your Appendix Removed, Go to Oklahoma
As seen in Zero Hedge: “What does an appendectomy cost?” College tuition isn’t the only cost that’s rising in the United States. Source: Goldman Sachs