Adults Need To Help Students Stay Away From Colleges They Can’t Afford The Federalist, Jul 15, 2019, Helen Raleigh
Recently I watched my niece walk across the stage to receive her high school diploma. I am proud of what an impressive young lady she has grown into. But I’m especially thrilled to know that she will graduate from a good college in four years with no student debt.
Like many high school seniors, she received several college admission letters in the spring and eventually narrowed them to two choices. One was from her dream school—an elite private college that costs about $70,000 a year, including room, board, and tuition. The school offered her a $20,000 merit-based scholarship per year, but she still needed to come up with $50,000 every year for the next four years to attend.
Another acceptance was from a good, but not excellent, state college. It offered her a full-ride scholarship that would cover room, board, and tuition, meaning she wouldn’t need to come up with any extra money. In addition, the college would allow her to participate in a work-study program. She would be able to earn her spending money and gain work experience at the same time.
However, this college wasn’t her dream school. It wasn’t even one of her top choices. She only applied for it as a fallback “safety†option and as a last resort.
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After receiving her initial admission letter from the elite college, my niece appealed for more financial aid but was told no. Some of her classmates were planning on borrowing to attend college. Since I am the financial guru in the family, my niece came to me for advice: should she borrow $50,000 each year for the next four years to attend her dream school?
Read more:
https://thefederalist.com/2019/07/15/adults-need-help-students-colleges-cant-afford/
