College is more expensive than ever, and it doesn’t seem to be letting up. To make matters worst, we are unprepared for the shocking sticker prices at many schools.
In a recent Forbes article about America’s most expensive college and universities, I read that Sarah Lawrence College in Bronxville, N.Y., tops the list this year at $57,556. Almost $60K! While not every school is that expensive, the prices continue to go up year after year. For the 2009-10 academic year, average tuition and fees range from $2,544 at public two-year colleges and to $32,349 at private doctorate-granting universities, according to The College Board.
But what’s worst is that in a recent survey by NextStepU and ApplyWise.com, we found that 56 percent of families with college-bound teens are in worse financial condition than two years ago. Also in the survey, which was featured in USA Today, it was clear that although higher education is a priority in the home, 22 percent have not saved a cent toward college tuition.
What can families and students do to prepare for the high college costs? I’d love to hear your thoughts!
Families can combat high college costs by beginning with three of the following ways:
1) They can begin at a community college.
Pro(s): This is very helpful, since not only are costs lower, but some states allow students to attend for free after they complete high school.
Con(s): Some of the credits might not transfer. To remedy this problem one can simply contact the college or university he or she is planning on attending (after the community college) and verify which credits will or will not transfer.
2) Choose a less expensive school that is also close to home.
Pro(s): Saves money several ways, since not only is the tuition less expensive, but one can avoid “out-of-state” tuition fees. In addition, a less expensive school close to home can save money by allowing one to stay at home while attending school.
Con(s): Might not offer the program, academic rigor, etc. that one wishes. In addition, one cannot escape his or her parents. :o)
3) Scholarships!
Pro(s): (I think you can figure this one out!)
Con(s): The time spend apply for scholarships might take up time for other activities, such as, watching TV, hanging with friends…just kidding. Yet, it really can take up time for activities (like dual credit or AP classes) that require a lot of time and study.
Thank you for your thoughts! I’d like to send you a follow-up email, can you please send me your email at enid@nextstepu.com.
Thanks for your feedback!