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Health & Fitness

Not Understanding the Real Costs of College, Can Really Cost You Thousands. Really!

If you think you understand the costs of going to college, specifically a college’s tuition, 9 out of 10 times, you’ve probably got it wrong. Did you know that most students don’t pay the full tuition that a college publishes? Like anywhere from 20% to 50% percent less? Or even absolutely FREE! So why would YOU expect to pay the full tuition freight? There are so many reasons as to why parents believe they will not receive money through the FAFSA (Free Application for Federal Student Aid); maybe they think they make too much money. Did you know that thousands of parents who own a small business think that they’re NOT entitled to financial aid are wrong?

All of these misconceptions, misunderstandings and lack of information lead many parents to forbid their child to even look at an out-of-state or private college. Parents notice private and brand name college price tags are sky high, while that in-state college is half, if not a third of the price. With all the misconceptions, who wouldn’t choose the state school? Parents & high school students who understand that those shiny in-state college with the reasonable tuition price tag won’t always help you come out financially on top in the end. Why? Because, usually the annual tuition does not reflect the actual number of years a student will have to spend at a state college to get that final degree. Why? The applicant pools for these in-state colleges are extremely high because everyone has the same goal in mind: lower tuition prices. All of these applicants are vying for a limited number of seats, which leads to overcrowding in classrooms, which means that these seats are easily and quickly filled. This in turn may lead to many students being locked out of a “Gen. Ed” class that is required for graduation. If they cannot get into that class before the end of their 4th college year they will have to stay for a 5th year, or even a 6th. Check it out yourself. Compare the college stays & graduation rates of state colleges to those of private colleges. You’ll see that state colleges reflect 5 year stays, while most students in private colleges graduate in 4 years. Again why? It’s because, those private college classrooms maybe have a dozen, or so, students in each classroom. Sure, annually, tuition may be a little more expensive at a private college, but equal if not more expensive in the long run to a 5+ year college stretch.

What are we telling you? Well, we are trying to shed light on a mystifying financial process. What we want you to take from this is that the sticker price of a college is not set in stone. However, you have to be prepared to negotiate. Figuring out the cost of college is like figuring out your income taxes. That doesn’t sound fun, but hard work never is. However, there are financial rewards & savings when you do. A word of advice? If you don’t want to overpay, get all of the deductions that are permitted, and follow all the latest rules and tax laws, then you’re going to want to get a tax expert/professional to do your taxes; or become extremely knowledgeable about filing your income taxes yourself. Do it right and who knows, maybe you’ll even receive a tax refund! The exact same situation holds true when figuring out how much you’re going to have to pay, or need to pay, to attend college. You don’t have to, and you shouldn’t, overpay for college; or be limited in the choices of colleges, just because you’re not familiar with, or don’t fully understand all of the rules and opportunities available to you.

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Please think long & hard about this. Your college bound child, may not realize what other college opportunities are out there, simply because the generally accepted, but incorrect, ideas of the college costs are confining them to look at the published tuition costs of just state colleges. Maybe, your son or daughter has fallen in love with the idea of attending a private college or, even an Ivy League college, and you as parents tell them “no-way, we can only afford to send you to a state college.” Well, there may be a very good chance that you can afford it! Please don’t break their hearts without first fully investigating the real costs of college tuitions – from FAFSA, the CSS Profile, Merit Scholarships, Needs Grants, and oh so many other financial assistance opportunities. These programs are set in place to help you and not haunt you. So, whether you get some college financial information and tips on how to get funding from a professional college funding advisor, or while your child is on a goCAMPUSing Mini College Prep Session & College Tour, remember – you should know about the great college options that are available out there for your child to be successful in the next four years of their lives, wherever they wind up attending!

goCAMPUSing, Inc. America’s Premier College Tour Company. Each goCAMPUSing college tour is like a mini college prep course on wheels. goCAMPUSing College Advisors ride along on every trip to point out the nuances of each college/university visited, talk about aspects of each college and how they compare to other colleges not seen on the tour, plus answer student’s questions, discuss the college selection and admissions process, discuss SAT & ACT testing & test scores, and much more. So check out our upcoming tours at: http://www.gocampusing.com/documents/campusTours.html and LIKE us on Facebook.

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