Step One contains surprising
advice: don't let cost limit your college options!
It is never too late to put some money
away for college. We encourage families not to rule out
expensive colleges because it doesn't seem like you have
the money to pay for tuition, room, and board that together
could cost over $30,000 per year. Many of the most expensive
private and public colleges offer the most need- and merit-based
financial aid awards, in the form of loans, grants, and
scholarships. Most students in college today receive some form of financial
aid. Parents and students need to work together to evaluate
their financial needs and negotiate the financial aid
Fundamentally, we want families to know that
a good student can gain admission to good colleges, and
that the money to pay for the education will likely be
available from one or another source.
If you're ahead of the curve, it's also true that it's
never too early to start saving for college, since college
costs are going up at a rate significantly higher than
the rate of inflation. There are many great savings opportunities,
such as the 529 Plans offered by every state, to help
you save effectively for college over the long term.
to PBS in 2004!
Margit Dahl, Dir. of Undergraduate
Yale University, and Mike Mills, Director of Admissions,
Miami University of Ohio, discuss their views on Financial
Length: 40 seconds