Proper Planning Makes College Worth the Cost

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According to a recent Sallie Mae/Ipsos study, “How America Values College 2018,” more than 85% of families believe they are receiving good value for the price, with more than 20% saying college is worth every penny.

In conjunction with those beliefs, students and parents willingly stretch themselves financially to ensure a college education is received.

While taking steps to make college more affordable, steps such as reduction in discretionary spending, as well as taking classes over a shorter period of time in order to reduce costs by graduating sooner, are actions that can be taken, families have much more work ahead of them.

Many, perhaps most, families find the development and implementation of a college planning campaign to be quite confusing. In fact, lingering misconceptions exist and persist:

• More than 40% of families believe work-study funds are automatic. They’re not. Rather, they are awarded based on perceived need and only by the schools that actually participate in the federal work-study program.

• More than 20% of families believe “free tuition” means college is free. It isn’t. Expenses such as program fees, room, board, and a host of miscellaneous expenses will be borne by the student and/or family.

• At least 19% of families believe “sticker price” will be the cost of an education. It isn’t, unless the student and family has either done absolutely no planning or they have done everything incorrectly.

How can you be sure that your college planning campaign is on the right track?

Ensure your family is properly prepared.

Contact us for our no-obligation evaluation of your current campaign.

 

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