563: What If College Doesn't Have to Cost What You Think?
About this episode
The episode discusses the rising costs of college and the misconceptions surrounding financial aid for families.
For those of us with kids, summer marks another milestone. School is out, graduation season is here, and for many families, college is right around the corner. My oldest daughter will be a senior this fall, which means our family is now officially entering the college application process. Like many parents, I've been looking at tuition numbers and mentally preparing myself for what feels like an inevitable financial hit. And it's a big one. When I started college in the early 1990s, the average annual cost of attending a private university was roughly $10,000-$15,000 per year. Today, many private schools are approaching or exceeding $90,000 annually when you include tuition, housing, fees, and living expenses. In some cases, sending a child to college can cost more than buying a house did a generation ago. At the same time, getting into many of these schools has become dramatically more competitive. Applications have exploded, acceptance rates have fallen, and students are expected to build résumés that would have looked extraordinary just a few decades ago. Given those realities, I assumed the process was fairly straightforward: write the checks and hope the investment pays off…
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