I had yet another conversation with someone who bemoaned the fact that college costs $50,000.
College does not cost $50,000. At least not for most people. If your family has a high income and your child is going to one of about 20 or 30 very expensive colleges, then yes, college costs more than $50,000. But for almost everyone else, it costs less.
The US Department of Education now requires that colleges put a net price calculator on their web sites to give families an idea of what their actual cost will be. Many people will find that it is less than they had assumed.
The flip side of this, of course, is that some colleges have high prices but do not offer much financial aid. The net price calculator will not tell you precisely how much financial aid you will receive, but it may help your family rule out – and rule in – some of the colleges that your child is considering.
And please, tell everyone you know about this. So many people put off college or default to a local school simply because they think that it is not affordable. There’s nothing wrong with putting off college or staying close to home, but the choice to do so should be an informed one.
