comes up with the dreaded Expected Family Contribution (EFC)–typically an amount that turns even the strongest stomachs—and/or they receive the first Financial Aid Award Letter and they discover the oxymoronic relationship of loans and aid.
Since college graduates earn more money (hundreds of thousands of the course of a career), are happier, report higher quality of life, have access to more affordable health insurance, and increased employment security during recession, a college degree is a worthy investment.
As students are weighing their Fall 2022 college options, it behooves students and families to take the time to have a clear understanding of what they are paying for (i.e., what they are buying). If you are fortunate enough that money doesn’t matter when it comes to paying for college, you can stop reading. On the other hand, if you are reeling from sticker shock and want an simple way to compare financial offers—perhaps even try to negotiate for a better one—this article will help.
If you just want to compare the cost of all offers on the table, using a simple Excel spreadsheet should suffice (click HERE to contact me for my college cost comparison worksheet).
On the other hand, if you want access to comparative data that can help you appeal for additional funds, set up a free account with Tuition Fit. Doing so will give you access to actual award letters shared by other, similar students and allow you to negotiate with leverage to get your best possible price. Remember, you lose 100% of what you don’t ask for!
To prevent sticker-shock the next time you have a student applying to college, work with a professional college admissions counselor who understands that an important part of college “fit” is financial “fit.”
For more questions about the cost of college and all things college-admissions related, feel free to drop me a line at kathy@fineeducationalsolutions.com
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