Photo by Becca Tapert on Unsplash
After 12 years and over 200,000 miles, my wife and I think it may finally be time to move beyond the minivan.
Ideally, we would like to have a vehicle that would hold our family of four plus the occasional additional passenger or two. Since we live in Minnesota, all-wheel drive would be nice especially when we make winter road trips to visit out-of-town family. Throw in at least 4 suitcases, a dog, a cooler and some extras like sleeping bags, fishing gear or Christmas presents, and before you know it we need the equivalent of a small truck just to go to out of town for the weekend.
When I saw the sticker prices for cars that meet our wish list our old minivan suddenly became a lot more attractive. Numbers for a new car ranged from $50,000 to $75,000 or more. Even used vehicles can hover around $50k depending on mileage and extras (like wheels and stuff).
Granted, it’s been a while since we bought a car, but wow.
As expensive as new cars can be, however, it is nothing compared to what some parents could end up paying for their kids’ college educations. In fact, with today’s college sticker prices exceeding $60,000 a year at many schools, paying for college might compare to buying a brand new SUV every year for the next four or five years – for every kid in your house!
That’s a carload of coin.
October 1 kicks off “financial aid season” as it is the first day you can submit your Free Application For Federal Student Aid (aka FAFSA) for the 2019/2020 school year.
My college planning workshop “Pay Less for College” also kicks into high gear this month. For a list of upcoming workshops try clicking here.
Through out the month, I am going to share with you some of my best tips and strategies to help you pay less for college.
No matter what your financial situation or how great of a student you have, the key step in your action plan to pay less for college should be this: