Decades ago, I financed my college education with a $2,000 loan and some help from their my parents. My cost to graduate from Ohio University in Athens, OH in 1972 was around $10,000. That’s $10,000 for four years of college! I keep bringing that up now with my “elderly” friends, as the cost of graduating from Ohio University today is well over $100,000, with an average of $32,000 in student debt. So what changed? Well, to be honest, colleges have changed. Even though colleges call them....
Read More
House Republicans’ proposal would cut back loans, tighten repayment options and let for-profit colleges become 100 percent federally funded ASHINGTON — A bill proposed by Republicans in the House of Representatives could change the college-financing system dramatically, moving billions of dollars out of financial aid programs. If H.R. 4508, becomes law, college affordability would go from bad to worse, say many higher education experts, and students from low-income backgrounds would suffer....
Read More
Every year the Princeton Review takes a survey that analyzes the hopes and worries of college-bound students and their parents. The 2018 report surveyed 10,958 families, 85% of which were students, and 15% parents. As expected the highest worries for both parents and students are paying for college (financial aid and debt); whereas just 12 years ago the biggest concern was getting into their top college choice. What is interesting in this report was the mindset difference between parents and st....
Read More
Every month I get client questions from advisors that leads me to believe there are still a ton of untruths, misbeliefs, and misconceptions in the college market. Forget about the advertised price (which now approaches $300,000 per student), the actual price a family ends up paying for college today will cut deeply into their retirement plans. I think everybody knows it - they just choose to avoid it. So let me point out some of the most prominent misconceptions I often hear and why every family....
Read More