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The Right Way to Cut College Costs

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CutCostsIf your child is going to attend college, would you like to pay more than the other students family’s are spending for the same degree at the same school and taking the same classes? If you answered no, you should consider taking advantage of using an Educational “Financial Aid” Consultant. As specialists in saving the most money on college education for families, they can help improve your family’s financial aid package.

In the recent article by Naomi Schaefer Riley in the New York Post, The Right Way to Cut College Costs, the author discusses some of the ways she thinks college costs should be cut. I think the important point to get out of this article, if you are planning for your children to attend college, was from Richard Vedder of the Center for College Affordability and Productivity:

And the way we distribute the aid is, as Vedder puts it, “unintelligent.” If you opt for a more expensive college like Skidmore ($44,020 for tuition, room and board), you get more federal cash than someone who chooses a less expensive school like SUNY Albany ($18,145 out-of-state, $7,525 in-state).

As I mentioned in a recent post, the college education “industry” has been charging vastly different amounts per student, depending upon a huge variety of factors, including charging what they think they can get from any one family. The difference in college costs from one student to another could be more than $50,000 per year.

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