Like many prospective college students we work with, Erin had a firm idea about the college she wanted to attend. She believed she had found her “dream school” when she submitted her seat deposit to Wake Forest University during her senior year of high school.
But that all changed when Erin had a conversation with her parents about the financial implications of her decision to attend the private North Carolina university. Her parents were requiring she take a 50% stake in her college education, regardless of where she went. Erin wasn’t receiving any financial aid or scholarships from Wake Forest, and with her parents only willing to pay for half of the full $160,000 tuition bill, she would have to come up with $80,000.
Believe it or not, private colleges are now offering more financial aid than ever. Of course, with college costs rising, it make sense for financial aid to adjust accordingly. However, it’s not just the amount of grants and scholarships that’s increasing–it’s the percentage of the overall tuition total. According to Time Magazine, in a survey […]
A great video from the National Association of Independent Colleges and Universities on myths about the affordability of private colleges, student debt, and the value of a college degree.