And it’s completely understandable. With costs rising at astronomical levels over the last couple decades, there are very few people out there who aren’t worried about how they will pay for college.
Consider that in 1993, when I graduated from Naugatuck High School, the average cost for tuition, room, board and fees was $24,504 for a private college and $9,513 for a public school. In 2012 those numbers increased to $39,518 and $17,860, respectively.
Let me do the math for you. That’s a 61% increase for privates and an 87% increase for publics.
And that’s just in 20 years. If you go back to 1972, the cost of a private school education has gone up 137% while it’s only gone up 124% for public schools. How’s that for sarcasm?
Once you pick yourself up off the floor, you can look up these numbers yourself on the College Board website.
The funny thing is that even though these figures are out there for everyone to see, I still see so many college applicants falling in love with schools that will be completely out of their reach financially. I hear things like, “we’ll figure it out” and “well, maybe I’ll get more money” when the reality is that they won’t figure it out and they won’t get more money.
What they will get is disappointment. Frustration. Anger. Resentment.
If you don’t want to get what they’re getting, pay close attention to just how generous or stingy colleges are with their money. Understand your EFC and what it means in the context of what a college may offer for you financial aid. And, most of all, make informed decisions.
I’ve written a few posts about these very ideas and if you haven’t read them yet, now would be a good time:
You can trust Dobler College Consulting to help you navigate the college admissions journey. Give me a call now at 203.525.4096 or drop me an email to schedule a FREE 60-minute consultation to discuss your needs for college admissions counseling.