Living and studying in Europe my whole life, I ignored for a long time the fact that education can be a very problematic investment and burden. When talking with my American academic friends, they often mention that even after 10 years, they still have to pay or find solutions for paying an impressive college debt. As for me, I went from college to MA and after that, PhD studies, without paying any dime. Just because high education was free, unless I wanted to enroll to some private academic classes, which I didn't. I used to work since 18 and was independent financially since, but I still think that an eventual college financial burden would have dramatically affect my life.
Hopefully, there are more and more books lately aimed to help parents and children navigate the troubled waters of high education in the US. Kristina Ellis, herself a beneficiary of impressive scholarships, is sharing her experience and knowledge in a very systematic and practical way.
'Think of paying for college as a marathon. By maintaining a steady stride between spending and saving, you can make it through each leg of the race and cross the finish line, graduating debt free'. Usually, the average costs for attending college per year can go around 19,500$, for in state, and $44,000 private.
First and foremost, the potential college candidate should start working towards the goal as early as possible. Starting to make a plan, for instance, by creating a budget and starting to save, using the power of compound interest or earning as many credits in advance as possible.
Second, it is important to be informed and in this advanced Internet era, everything is much easier than before. For instance, you do not need to go in person at the college tours, and use instead the virtual presentation. It could be a significant source of financial relief. Information is gold also when it comes to the decision to go to college as such. The potential student should start asking as many questions as possible in order to figure out if this college and no other is answering his or her academic needs and professional plans.
The application process can be expensive too, as it involves passing various tests and acquiring documents proving the conformity to the academic standards expected from a potential student.
When it comes to applying for scholarships or federal loans - such as the Free Application for Federal Student Aid -, the process should be started as early as possible, taking into consideration all the documentation requirements and criteria necessary.
With a lot of work and careful preparation, the application can be accepted or various alternatives used in order to eliminate or diminish significantly the financial burden. Otherwise, students are adviced how to find ways to start paying the debt even from the first year of college, by taking side jobs or building their own freelance business. Such an approach can be very helpful for the next professional steps, due to the acquired experience and the practice of work ethics.
Although with a clear readers target, the North American students, or anyone interested to apply at an an American college, this book is also useful for those without the need to worry about college loans, but that can learn a lot about how to plan the academic and professional career as early in life as possible.
Disclaimer: Book offered by the publisher via NetGalley.
