The 4 Rules of Paying for College in a Recession

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Children Deprived? NOT!!!

DO your homework long before going to college!! Unfortunately, education has gotten too politicized and too profitable for too many people.

Getting realistic is step one.

Going to community college for the first two years is not the end of the world!! It saves money and helps your child accept limitations/reality. It makes them research the transfer process, fill out all the forms, jump through all the hoops - it makes them responsible, resourceful people the way no classroom can.

Going to public 4 year univerisities is only a money-saver if you pay for it out of pocket as you go. They offer no merit-based scholarships, have more competition for financial aid and therefore offer almost no financial aid to middle class families. They also bump your 4.0 GPA kids in favor of 2.0 GPA out-of-state kids whose parents will pay higher tuition.

Private colleges offer the most scholarships, grants, and

loans. .

Also, most parents are thinking of college from their generation's persepctive, not their children's.

Are you sending your kids to college for your security or theirs? If you answer "theirs" - you're perpetuating the myth that the last two generations of youth have been sold (and paying dearly for).

In the last decade, very few students obtain ANY job/financial benefit from their degrees. Sending them to college may be setting them up for a lot of hard work and disappointment.

With the exception of medical professions and accounting, most of them can't even get entry level jobs related to their field.

I don't care what the "research" says - they are not taking into account costs of living, student loan debt, interest from living on credit cards while in college, that they aren't getting jobs in their fields.

Gen X and Y aren't wreckless spenders! We're indentured servants, still paying debts on all this higher education hype that got us nowhere, but made other people wealthy.

This isn't likely to get better soon. The huge population of baby boomers are only delaying their retirements. There's just not much room for these young people in the workforce yet.

So I wouldn't sweat not getting your kids into college. You're not depriving them of anything except needless frustration and disappointment.

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loans

My daughter attends an excellent out of state college. Unfortunately the tuition is high and rising because of out state and the financial aid is minimal, mainly loans. We (middle class) saved some but not enough and for 3 kids. The savings program was in state, so money is worth less out of state. It is hard to try and make your child settle for a less than ideal school when she did well, worked hard job and volunteering, won awards in girl scouts etc and actually was accepted to a choice school when there were more applicants than any prior years in history! We (parents) and she will have huge debt when she graduates and also need to pay for another child. We also applied for scholarships which is very time consuming and got minimal in return. We even did a time consuming appeal which lowered out EFC considerably but OOPS- school said no money left. None of the advice out there seems to make a difference so far but we keep on reading. thanks.

Scholarship for Student of Disabled Parent

May I ask if there might be a type of scholarship available to a student who has a disable parent?

Thank you.

Can't someone bailout college students?

I am the mother of two college students. This year I lost my business, my home is in foreclosure, I can't oollect unemployment since I was an officer in my company. Private college loans require cosigners. No one wants to sign these loans. The students will never be able to pay back these thousands of dollars in loans. Yet, we can bail out banks, auto companies etc. Doesn't anyone care about these students? They are the future of our country.

Our Tops Colleges Hava Abandoned the Middle Class

I realize now that I did it all wrong. I bought a small house I could afford, I worked hard and went to school nights so I could get a degree and make more money, I drove older model cars, I made my mortgage payments on-time and acquired equity in my home, I put money away for my retirement, and I was completely honest and forthcoming on my financial aid forms for my daughter. And for all that I get told that after 12 years of working hard to get into five of the top colleges inthis country (including 2 Ivies), she gets ZERO dollars to attend the schools she got accepted to. We are not rich. My wife and I make just about $125,000 per year combined, so we take home only $85 or 90K per year. So now I am supposed to donate one-half of my take-home pay ($45K+) so my daughter can go to college? Or let her enter life with $180K in loans? I actually had the aid officer at a major Catholic college just outside Boston tell me I could take a home equity loan, or better yet stop my 401k contributions. And meanwhile, derelicts who sat around saving nothing, and not working to better themselves and not paying their mortgages, and just accumulating debt and bad habits, end up getting a free ride. Our college system is BROKEN. We are on the verge of returning back to the days when only the very rich and the occasional sponsored poor folks could go to college. Our top colleges have abandoned the middle class...

The 4 Rules of Paying for College in a Recession

Everything in life has tradeoffs. While going to community college can save a ton of money, the process of transferring from a community college to a four-year college or university can extremely complex.

Without advance planning, students may find out too late that they’ve been taking courses at community college that:

• won’t transfer to any four-year college

• won’t fulfill admission or graduation requirements at a particular four-year college of your choice

• won’t get them admitted to their major in a particular four-year college

• won’t get them admitted to a four-year college when they expect or

• won’t leave them enough financial aid because they've used up their benefits taking the wrong courses

With advance planning, students will be better prepared to find the right four-year colleges for them and to take advantage of transfer opportunities as soon as possible. Taking the wrong courses can delay their progress. The earlier they start planning, the more time they’ll have to: determine their career and life goals, find a major that fulfills those goals, select the right four-year colleges that will help them achieve their dreams, take the right courses to enhance their chances of being admitted to the four-year colleges of their choice and use their financial aid wisely.

Don Silver

author of High School Money Book and the forthcoming Community College Transfer Guide

Student determining which school to go to.

I am so stressed myself. I got accepted to the two top school of my choice. One is affordable Cal State public school and the other a private school. I am so confused to which school to go to. I am so scared of the big price tag of the private school. Is it worth it to go to a private college? I am receiving no help from my family. My family have very low-income. I am 21 and when I graduate from college I have to pay for it. Help! I don't even know where to begin to start financing my college tuition. I know you speak to the financial aid office. I already applied to financial aid. I know I should exhaust all government loans. What next?

Villa Nova University

My grandaughter is on the deferred list at Villa Nova college she is a good student and has decent sat scores she attends Notre Dame Academy High School and would like to go to Villa Nova her dad is financially established and is willing to pay for her tuition so what is the problem what are some of thes colleges looking for .Irs not fair that we have to lose sllep worrying and watch my grandaughter become stessed ,she is a good girl and has a family back ground which includes values morals and money there are a couple of boys in our community who have vandalized her car and all because she is a virgin what can I do to help .