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Understand College is A Business
The colleges and universities across the world, but especially in America are run as businesses. The more this is understood by parents and prospective students, the more of a complete understanding those intending to attend college have of this business, the better the students and parents will fare financially. From a financial standpoint, getting into college and funding one’s education is a transaction that must be dealt with great caution and acuity.
In Ron Lieber’s new book “The Price You Pay For College”, the business aspect of college is discussed at length. Lieber hopes to strengthen the consumer or student’s perspective of their decision to attend college and guides prospective students and parents to exercise frugality and negotiation tactics in working with financial aid departments and admissions departments.
Lieber discusses the many reasons to go to college, most of them land in the arena of “continuing education”, “getting ready for a career”, or to “climb the socioeconomic ladder”, to get just one rung higher than the previous generation.
Why am I Attending College?
College awakens many students to the realities of life. Physically, by being away from family and finding new ways and people to maintain a support system. Mentally, acquiring an onslaught of academic responsibilities and then being forced to juggle them with having some semblance of a social life outside of academia, and financially—gaining an understanding of how their educations are paid for in real terms with real figures… that they will have to pay back.
This question also includes in it ‘what have you planned to do after college?’. Choosing a major should be a careful decision, and making that decision knowing that it will affect how your career and life moves forward financially after college. Switching majors happens, more often than you think.
What is the cost of College?
This question is two-fold. What is the cost you will be responsible to pay for your education, and what can you or your family do to bring this cost down? Having a realistic picture of what expenses are on the way is crucial to plan for what is next. The task of paying for college is the biggest hurdle for most that are starting their college planning.
Understanding college as an investment is crucial to knowing how to move forward through college and after graduation. “Among the class of 2019, 69% of college students took out student loans, and they graduated with an average debt of $29,000.” It is important to manage expectations and know what is to come, and prepare to pay both during and after graduation.
What can I do to Prepare?
Getting ready for college involves more than purchasing posters and bedding. Send Your Kids To College specializes in helping students and families prepare for what is next. With All-Pro Tutoring, we can help your student prepare for the SAT and ACT. Send Your Kids to College can also complete your FAFSA for you! Filing the FAFSA can be a strain for anyone with how busy day-to-day life can be, for a $79 non-profit donation, we can fill it out for you.
To really get a complete look at what is ahead financially, SYKTC offers a Financial Positioning Plan. We can help your family complete all of the necessary college financial forms, review and analyze award letters, and appeal awards if necessary, calculate expected family contribution, and complete a comprehensive review of your family’s current financial position and what the first steps will be.
We Are Here to Help
If you have questions about how to get the application process started or what you should expect, the professionals at Send York Kids To College have you back. We can work with you to check off your to-do list, make one if you don’t have one, and help make this transition easier on your family. If you have any questions give us a call today, or leave your information here and we will contact you!