What you absolutely need to know about college funding

One of the most alarming trends I have seen in recent years is that people are retiring their debt. Worse yet, millions of people are unable to save adequately because of this burden. It is an economic brake on progress.

There’s a lot they don’t tell you about making college affordable and getting a debt-free degree. They should offer the compulsory classes to first year high school students – and their parents – telling them the truth about it.

Ron Lieber, an excellent personal finance columnist for The New York Times


, provides an excellent guide to affordable college education in his new book “The price you pay for college: a whole new roadmap for the biggest financial decision your family will ever make (HarperCollins, 2021). “

By guiding you through the many traps parents and students fall into, his nut soup approach gives you the full picture of college funding, including:

  • The price you see is not the price you pay. The “retail” or “sticker” price of college tuition is often an illusion since most colleges offer financial aid that reduces the “net” cost.
  • Why You Can Claim Help: The FAFSA is essential. This government form, required of anyone requesting assistance, opens the door to reducing the net cost of college studies.
  • Snobbery and elitism are often a trap. “Branded” colleges may not be worth it, while smaller, less well-known colleges may be better value.
  • The first offer of financial assistance is not the last. You can call for your help. Lieber explains how it works.

In the final analysis, finding an affordable university that won’t drag your kids into debt for decades is worth research: which university will offer the best education for the best price?

“There are so many schools that can do great things for the right student – dozens of them – and a lot of them cost nothing close to $ 300,000,” Lieber writes as a parent and journalist. “When I visited their campuses before they all closed for a while, it was hard not to be optimistic. I still feel it.

About Natalee Broderick

Natalee Broderick

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