May 1 is College Decision Day, the deadline for high school seniors to select the college of their choice. For most families this is a day of celebration, a day to announce to the world (or at least your Facebook friends) where your student intends to spend the next four years of her life.
For some families, however, it’s time to face the stressful reality of paying for college.
Every spring I get calls and e-mails from frantic parents trying to figure out how to pay for an elite college that won’t help them with any financial aid. Usually these parents have super talented kids with numerous merit-based scholarship offers from other schools, but they insist on attending elite, Tier 1 colleges and universities that offer them little to no financial financial help.
With more and more of these schools now exceeding $65,000 a year for the full cost of attendance, these worst-case scenarios are becoming all too common.
Sometimes the only thing a parent can do is to say the one word that no child wants to hear: “No”.
Lynn O’Shaughnessy, best-selling author of the book The College Solution and founder of the blog by the same name, recently published a blog post about two families in this situation. In this post each parent writes about the difficult decision they faced, how they handled it and their student’s surprising reaction when Mom and Dad said “No” to their college choice.
Three easy ways to pay less for college. The best way to pay less for college is to make yourself a more well-informed consumer of a college education or as Lynn puts it “a smart college shopper”.
To do that…
Subscribe to Lynn’s Blog, The College Solution. She posts once or twice a month, and has some of the best information you will find anywhere on how to pay for college.
Sign up for Lynn’s next online course, The College Cost Lab. The course material will help make college more affordable for you and your student.
Download My Free College Planning Tools resource guide where I share many of the websites and other online resources I use to help parents pay less for college. You will find it in the upper right hand corner of this website.