Parents and guardians continue to face rising tuition costs and fees at colleges and universities as they think about helping their children pay for higher education after they graduate from high school. eSchool News just published an article "New site to calculate potential student loan debt" in their online newsletter for April 2012.
The article mentions a separate Education Department web site, http://collegecost.ed.gov, that addresses college cost, with information such as the rate of tuition increases at colleges. This site also includes a comparison chart to show how fast college costs are increasing.
Paying for College is an online cost comparison worksheet to use in evaluating the costs and risks involved in paying for school. You can enter up to 3 schools and compare data and relevant financial factors in order to make a more informed decision about your child's future education.
What approaches are you using with your children in preparing for college costs?
Are there questions you have about financial planning for college? Perhaps others in the group may know some good resources for financial aid and scholarship information.
Please share your thoughts and resources.
Hi Lynne, your post was so helpful for my daughter and I as we are figuring out where she would like to go to college, what she needs to get into her dream college and how much money we will need. The Paying for College site allowed us to put in her top 2 schools and compare them. We were very surprised when we found that her number one choice in Florida was almost $4,000 cheaper than her number 2 choice which was in Arizona.
As far as paying for her college, that is the challenging part. We have a 529 plan and contribute money every month but that will only pay for a small portion of the expenses. My daughter is keeping up her grades to compete for a scholarship and she knows she will also have to work and apply for student loans. I remember when I went to ASU tuition was only about $1,000 per semester. It is unbelievable how much it has increased over the years. Cheers, Tammy
Thanks, Tammy, I am glad the site was helpful for you and your daughter. I was concerned about paying for college for both of my daughters. It seemed like every year the cost escalated and my salary remained the same. School teachers in my area just received their first raise in 5 years.
When the time came for my daughters to attend college, it was amazing how we managed to pay the bills. They both were awarded scholarships and grants.
The older daughter graduated from William and Mary and continued her studies at the University of Chicago with full fellowships for her masters and doctorate degrees plus a post-doctorate.
The younger daughter graduated from Virginia Tech and continued her studies at the University of Linköping in Sweden paid in full because she was sponsored by a Swedish citizen who became her husband.
Who knows what the future holds for your children, but I assure you "where there's a will, there's a way!" My worries were pointless because my daughter's educational expenses were covered. However, they worked hard and so did we.