Shopping Cart
Your Cart is Empty
Quantity:
Subtotal
Taxes
Shipping
Total
There was an error with PayPalClick here to try again
CelebrateThank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart

Nansemond River Financial Services

Financial Planning, Investment & Insurance Planning

My Blog

Blog

The Real Cost of College

Posted on May 31, 2017 at 1:37 PM
The Real Cost of College
 
It may not be what you think. 
 
 
How much will your family end up paying for college? Your household's income may have less influence than you think - and some private colleges may be cheaper than you assume.
 
Private schools sometimes extend the best aid offers. Yes - it is true that the more money you earn and the more assets you have in a tax-advantaged college savings plan, the harder it becomes to qualify for financial aid. Merit aid is another matter, however; most private colleges and universities that boast major endowment funds that support healthy merit-based aid packages.
 
These scholarships and institutional grants - awarded irrespective of a family's financial need - can reduce the "sticker shock" of a college education. A study from the National Association of College and University Business Officers found that grant-based aid effectively cut tuition and fees by an average of 48.6% in the 2015-16 academic year. If your child can fit into the top quarter of a college's student population in terms of grades or achievement, merit aid may be a possibility. A college that might be your student's second or third choice might offer him or her more merit aid than the first choice. 1
 
Relatively speaking, some universities demand more from poorer families. An analysis published in 2016 by New America noted 102 U.S. colleges with endowments of greater than $250 million that charged the poorest students more than $10,000 in tuition for the 2013-14 academic year. Out of more than 1,400 colleges and universities New America studied, hundreds expected households earning $30,000 or less per year to pay the equivalent of half or more of their earnings on higher ed. 2  
     
The state legislature of New York made a striking move this spring. It decided to waive tuition for many full-time undergraduate students at both 2-year and 4-year public colleges and universities within its borders. To qualify for this tuition break, households had to earn less than $100,000 annually - and students had to pledge to work and reside in New York state after they earned their degrees. (The annual earnings threshold will presently rise to $125,000.) Families and their students will still have to pay fees (and if needed, room and board). 3
 
New York is not the only state making such an offer. Programs like the Tennessee Promise and the Oregon Promise have made community college tuition free in those states. Delaware and Minnesota have adopted similar plans, and Rhode Island and Arkansas also have like policies in the works. Any little tuition break helps, especially in these times. According to the Institute for College Access and Success, about 70% of college graduates in 2015 owed a great deal of money; their average education debt was $30,100. 4
     
Mark McGahee may be reached at 757 539 9465 or [email protected]
www.nansemondriverfinancialservices.com
 
This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
 
Securities offered through Securities America, Inc. Member FINRA/SIPC. Advisory Services offered through Securities America Advisors, Inc. Trading instructions sent via e-mail may not be honored. Please contact my office at 757-539-9465 or Securities America, Inc. at 800-747-6111 for all buy/sell orders. You should continue to rely on confirmations and statements received from the custodian(s) of your assets. The text of this communication is confidential and use by any person who is not the intended recipient is prohibited. Any person who receives this communication in error is requested to immediately destroy the text of this communication without copying or further dissemination. Your cooperation is appreciated."
   
Citations.
1 - usnews.com/education/best-colleges/paying-for-college/articles/2016-07-07/strategies-for-students-too-rich-for-financial-aid-too-poor-for-college [7/7/16]
2 - washingtonpost.com/news/grade-point/wp/2016/03/16/these-colleges-expect-poor-families-to-pay-more-than-half-their-earnings-to-cover-costs/ [3/16/16]
3 - nytimes.com/2017/04/28/your-money/paying-for-college/as-college-deadlines-near-families-wonder-what-they-can-pay.html [4/28/17]
4 - newsweek.com/free-college-tuition-new-york-bernie-sanders-582345 [4/11/17]

Categories: Financial Planning

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

210 Comments

Reply yelala
12:07 AM on May 20, 2022 
yelala 341c3170be https://ameeni.com/upload/files/2022/05/tgznHWrP1MIE33raiu2p_17_1
417f40af1bd87747a1f6991db67eb9c_file.pdf
https://shapshare.com/upload/files/2022/05/omwSvAMtw6dBhfO4oBAD_1
7_b28d4a409977312e044a80fba1f386e2_file.pdf
https://paperpage.sgp1.digitaloceanspaces.com/upload/files/2022/0
5/eBVV7kIk74kqmUYRVctz_17_c5b490e8d25f460e7dc4ec65e780a5fe_file.p
df
https://social.cybertecz.in/upload/files/2022/05/XZUWcjX5E75ECoce
LbVt_17_c5b490e8d25f460e7dc4ec65e780a5fe_file.pdf
https://www.howeasyy.com/upload/files/2022/05/oc8w4ZjNIKVYAHz9Gnb
Z_17_c5b490e8d25f460e7dc4ec65e780a5fe_file.pdf
https://social.arpaclick.com/upload/files/2022/05/i5leT9XKCyLq6w8
x4gMq_17_3785fd32ed098e0ebb58db8245f180d1_file.pdf
http://sharedsuccessglobal.com/marketplace/upload/files/2022/05/h
zps21UZHsZ8gnd33gU7_17_ea4680d48eb85cc08523815749d0fe98_file.pdf
https://our-study.com/upload/files/2022/05/r49V17fbNKu9s937LdyQ_1
7_c5b490e8d25f460e7dc4ec65e780a5fe_file.pdf
https://www.yapi10.com.tr/upload/files/2022/05/6PL4io8ojQT16zJAZk
PW_17_b362f33c8eade2e0c0245c136f00de10_file.pdf
https://app.oldmonk.world/upload/files/2022/05/U4BfVfOrb6IKOi5RjR
DF_17_c5b490e8d25f460e7dc4ec65e780a5fe_file.pdf
Reply Whevilk
9:31 PM on July 27, 2022 
Cialis Y Levitra Contrareembolso
url=https://buycialikonline.com says...
generic cialis vs cialis
Sildenafil Citrate 100mg