Choose a College from a College Counselor, Choose Tuition or Public 4-Year Colleges
The top colleges and universities recommended by major publications. Most American students cannot afford it. Therefore, you need to consider many factors when choosing a college, in order to make the best possible choice. These include the availability of a college counselor and tuition options. There are also the type of colleges to consider.
Research the various private colleges in the United States as well as public 4-year colleges. There are usually huge differences in tuition fees between private and public colleges. Public colleges, because of the government subsidy, are usually much cheaper.
Several national magazines annually publish the top colleges and universities in the US. All the top colleges listed have one thing in common, the extremely high cost. Because the costs are so high, most Americans cannot afford to attend these so-called “top colleges” unless they acquire unmanageable school loan debt or a full 4-year scholarship.
My number one concern in choosing a top college or university, and what should be your number one concern, is simply cost. Not considering the cost can cost you misery later in life for years to come.
The tuition option for the moderate income student
If a poor or middle-income student chooses one of the private “top colleges,” their school loan balance after graduation would be outrageous. Because even after amortizing for 20 years, the monthly payment would not be possible with the vast majority of entry-level jobs in the U.S. You read that right, I said 20 years. Public 4-year colleges will be a better choice when costs are affordable and student loans are kept low.
Many students find that they have to pay off their school loans over 20 years to have a somewhat manageable payment option. Many graduates have payments more like mortgages than school loan payments, but that doesn’t have to be the case.
Additionally, if one of these students chooses to defer school loans for graduate studies, their existing exorbitant balance could easily double. Interest payments are charged to the account balance even if the loan is in deferment.
With this being the case, what should you first consider when choosing a college for yourself or your child?
Tuition options
If the school doesn’t have reasonable and affordable tuition options for your income, don’t even consider attending unless you can get a full scholarship. Maintaining a full scholarship usually requires you to maintain a B+ grade point average.
Why burden yourself or your child with debt that you or they cannot repay? The burden would be so great their lives would be miserable trying to make the monthly payment. Calculating the cost of a college includes a detailed breakdown of your options for tuition (for in-state and out-of-state residents), room and board, books, registration fees, airfare, or car expenses to get to and from school 3 times a year.
Add an additional 2% to this total to cover hidden costs. Some students who choose schools they can’t afford graduate with a college degree only to find their credit score so low that they are no longer a candidate for employment as a result of defaulting on school loans. Tuition options should not only include tuition, but also room and board, books, and incidentals.
Most financial aid packages include a combination of large school loans, small grants, work-study, and parent or student contributions. The financial aid package usually only covers about 70-80% of the total cost for poorer students, unless you are lucky enough to receive one of the rare full scholarships. To avoid or keep student loans low, consider all your tuition options.
Choosing a college without considering debt can cause you and your child a lifelong drama of financial impoverishment and unbearable stress. Don’t burden yourself with unsustainable debt and a low credit score to get a college education.
College Advisor and College Culture
Look into the college counselor program at your college or university. The college counselor is a great link between your culture and your choices for classes, clubs, extracurricular activities, and job resources.
Is the culture conducive to your upbringing? If not, can you assimilate into the culture? This is where the college counselor will come in handy. Culture includes children from similar communities, things you like to do, your religious facilities to attend, and acclimatization to bad weather you’re not used to. Some straight-A students attend colleges that are so culturally different from their upbringing that they have trouble adjusting, so their grades suffer as a result.
Also, research each type of activity and the student’s major before choosing to apply to a college. Learn how a college counselor helps students in college.
Know All Tuition Options Before Choosing a College and Keep Student Loans Low or No -MsFinancialsavvy
Academic Status? United States Private Colleges vs. Public 4-Year Colleges
If the parents have an unlimited budget, it probably doesn’t matter where the student attends. But, if a student wants to keep student loans low or at all, college matters. There are many private colleges that the United States has to offer. There are many equally great public 4-year colleges. Public 4-year colleges are a better tuition option. The cost is much lower.
Is the school accredited by local, state and federal academic boards? This can be easily verified by school counselors or online school bulletins.
Main fields of study
Does the school have a wide variety of majors, so can you choose a second or third choice if you find you don’t like your first choice? Some students are forced to transfer mid-stream because the major field they ultimately choose is not offered.
Online directories will provide tuition options, fields of study, extracurricular activities, help from college counselors, and more.
Kind of school
Understand the different types of schools available. Is your school choice a public in-state college, a private college, or a for-profit college? Least expensive to most expensive are public 4-year colleges and then a toss-up between private United States colleges and for-profit colleges. Some for-profit colleges exist only online. Also, some colleges have an online only department, which is different from the college building and cheaper.
The best value for your education is an in-state public college that you will attend in person. Public schools are subsidized by taxpayer dollars so that children within the state can receive a quality education at an affordable cost. Out-of-state students usually pay extra since their parents are not tax-paying in-state residents.
Private colleges and universities are usually owned by organizations and churches. For-profit colleges and universities are usually owned by corporations. Both of these options can be prohibitively expensive with many hidden costs. Do your research well before considering a college or university.
Understand that most colleges increase tuition every year, this should be factored into the current annual cost. Because school costs are subsidized by school loans for many students, getting the lowest loan amount is imperative. Your income right out of college isn’t guaranteed, and neither is a job. Because of this, it is wise to focus on low or no school loan debt for college or trade school. Debt must be paid off, the lower your debt the more likely you are to pay off your debt easily and on time.
SUMMARY OF THE TOP THINGS TO CONSIDER WHEN CHOOSING A COLLEGE OR UNIVERSITY
Tuition options are most important to keeping student loans very low. Tuition options include tuition and fees, room and board, books, and incidentals. For those who need to travel, including airline tickets. Understand all aspects of student aid at the United States Student Aid federal government website.
Study the difference between United States private colleges and public 4-year colleges. The overall cost is much lower with state-funded public schools. Current Student Loan Deferment Options.
Look into the college counselor program, a great college counselor will steer students in the right direction.
