College Planning: It Doesn’t Have to Be Costly

College Planning is more critical in today’s economic environment. The cost of colleges is rising at the same time that parents may be losing their jobs, or having their hours cut back. Unfortunately, not every family has saved for college since the birth of their children. While the immediate obstacles may seem daunting, they are not insurmountable.

While children may have huge dreams of going to an Ivy League college and may even have the grades and activity portfolio to be a worthy candidate, every potential college candidate should have one or two safety nets under their belt. Yes, your dream was going to Harvard or Yale and it is good to have those dreams for they carry us along to do great things. However, you must work to make that dream happen by supporting your dream economically and by getting both the good grades and join the appropriate activities to make that dream come true. Why Harvard, why Yale? Why not other schools?

The first step should be a frank family talk about finances. How much can mom and dad afford for edusson? How many siblings will be going to college over how many years? Usually, children go to college at the time when parents are starting to look toward their own retirement. How many additional years will mom and dad have to work to pay the college bills? Are there other colleges that offer your major and have a good reputation, but cost less?

When looking at the costs, you must take into account the total cost. It is not only the cost of tuition, but if you are far away, the cost of room and board. Is it cheaper to live in a dorm, or is off campus housing cheaper? Do you need a car on campus, or can you survive with college campus transportation? Is the college of your choice close to home? Can you commute?

Can you go to a two-year community college and then go to the college of your choice. This option saves an enormous amount of money. Many community colleges have wonderful reciprocal programs with well-rated colleges. There is no shame in taking this route. You are the wise owl who knows that saving and financial strategy is what is going to get them ahead in life.

It is my opinion that every child should have a job in high school and put a portion of their earnings toward their college education. Not only does it help the student buy into their education, it teaches a good lesson on earning money and budgeting it. I also think that after freshman year, which is a huge orientation year with many adjustments, a student should have a part- time job either on campus or off. There are plenty of jobs that require monitoring of desks, or some other quiet activity that will allow the student to have time to study on the job.

One cost saving method is to buy used texts. One college textbook can cost a hundred dollars plus. Used texts are available at the bookstore and also online. Both half.com and Amazon.com sell used textbooks. Get the syllabus of your classes ahead of time and purchase used text for hundreds of dollars of savings.

Finally, think of the long-term picture. Will you be going to graduate school? Can you defer going to that Ivy League college until then? Your graduate school degree will read from IVY LEAGUE U. That will be enough to open some doors. Remember, in the long run, people in the workforce aren’t hiring degrees; they are hiring educated people who have the right ATTITUDE and Skill Set to get the job done!