Choosing Colleges With No Cost Consideration?

It amazes me every year when panic-stricken parents of seniors meet with me in March and April… only to ask the question, “How do ‘they’ expect us to pay this?” By “they,” mom and dad are referring to the colleges their student applied to. And by “this,” they’re referring to the out-of-pocket costs resulting from a lack of financial aid.

The analogy I love to use is a home-buyer sitting down in the escrow office and being asked for their down payment. And at the same time being informed of their monthly payment for the next 30 years. Who in their right mind would… at that late date… say, “How do you expect me to come up with that kind of money?” THEY shopped for the home, THEY applied for the mortgage. THEY were in complete control of the “process.”

Isn’t this precisely the same situation families find themselves in when “shopping” for a college? If they don’t know in advance of their child applying to that college how much out-of-pocket costs… at least a solid estimate… that particular college is going to cost them, then why would they even permit… or often encourage… their child to apply?

Understanding EFC… as well as merit-aid policies of colleges… must be part of your College Planning program, unless of course you’re in the small percentage of families in America who can easily write a check for any college choice your child makes.

For free downloads and great planning info, tune into one of our free webinars (www.GCFwebinars.com) or go to our website and self assess your situation.