The topic of college affordability has become increasingly pressing as tuition costs continue to rise, leaving many families grappling with the challenge of financing higher education.
The best thing you can do for your college-bound teen is plan for college expenses using 3 critical financial figures:
What colleges expect you to pay
What you can realistically afford
What you are willing to spend
"The reason these three numbers are important because after all, ...
The topic of college affordability has become increasingly pressing as tuition costs continue to rise, leaving many families grappling with the challenge of financing higher education.
The best thing you can do for your college-bound teen is plan for college expenses using 3 critical financial figures:
- What colleges expect you to pay
- What you can realistically afford
- What you are willing to spend
"The reason these three numbers are important because after all, for most people, money doesn't grow on trees." - Jack Wang
Distinguishing Affordability vs. Willingness to Pay: A Guide to College Costs
- Learn the critical numbers for college planning: what college thinks you can afford, what you can afford, and what you are willing to pay
- Distinguish between what a family can afford and what they are willing to pay for college education costs
- Emphasize budgeting, savings allocation, and trade-offs when planning for college expenses
- Consider college financial aid when applying to dream schools to avoid financial constraints
- Set clear financial goals and understand how colleges calculate family contributions
Looming college tuition expenses can be the scariest thing you’ve faced as a parent OR the entire college admissions experience can become the parenting milestone you’re most proud of. A clear budget and long-term strategic planning prevent the emotional and financial strain that often accompanies the college decision-making process, allowing you to truly enjoy the last few years your child is still home.
Budgeting for College: Striking a Balance for Success
(00:02:11) Critical Numbers for Successful College Planning
(00:05:02) Navigating Costs: Understanding College Affordability Complexities
(00:09:45) Balancing College Costs with Financial Goals
(00:12:05) Strategic Budgeting for College Financial Success
(00:19:46) Dream School Financial Aid Awareness
Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/
*be sure to send a connection request with a message saying Hello!
Navigate college funding with me at www.smartcollegebuyer.com
The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.
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