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The coming depression blog | September 23, 2017

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Is College Education A Dream Now?

Due to the rising cost of a college education, many government-funded agencies and private organizations are stepping up to help students reduce their total debt. Doesn’t everybody like to go back to college at some point of time and pursue further education? Students as well as working people would consider their options to pursue their education. But then the tuition fees being too expensive and high makes them think twice for it becomes for everyone to afford the same. The cost of colleges is rising at the same time that parents may be losing their jobs, or having their hours cut back. Unfortunately, not every family has saved for college since the birth of their children.

We all know that sending your kid’s to college although necessary, is very expensive. Unfortunately, many parents are shocked when they discover the real costs they never considered and it’s often too late to do anything about. The cost of education seems to be growing at an alarming rate. Unfortunately, this growth can be so great that the average student cannot even afford to go to college for a degree. There are two ways for families to approach this problem. The first is of course to throw up your hands and either sends your student to a lower cost community college or not sends your student to college at all.

College Education spells costs. Savings nowadays accumulate just minimal interest rates; not enough to cover your entire child’s education. However, with the cost of college constantly on the rise many find themselves wondering if it is indeed possible to make their college dreams a reality.  Parents of college bound kids generally have one major concern – How in the world are they going to pay for it. If you are the parent of a college bound child you have every right to be concerned since the average cost of a 4-year college education today is between $40,000 and $120,000.

College is expensive and the debt deal agreement and credit downgrade is set to push college costs even higher. America has lost its premium credit rating can possibly increase interest rates on federal and private loans making borrowing more expensive for students and parents. Higher rates on student loans mean families will feel more of the rising cost of college as tuition continues to skyrocket across the country.

Due to the recession, more undergraduates than ever are pursuing degrees or returning to school in order to improve their position in life and make a career change. Today no jobs even the entry level jobs are available to people who do not have a basic minimum degree as qualification that too from a reputed and accredited university. Only with a graduation degree can you hope to land a good job. This being the case, college education becomes a necessity.

If you ask any parent who has sent their kids to college if the quoted cost was higher or lower that what they really paid, the answer is always “we paid much more than we expected!’ -100% of the time.

Here are some ways to cover that expensive education:

The best way to get started with financing your education is to speak with a financial aid advisor at the institution of your choice.

It’s important to apply for college grants. In fact, it could mean the difference between being able to afford school or not. Grants help pay for tuition, books, housing and food.

Find the Affordable Degree. We live in a society that says you should have a college degree. Therefore, earn the degree from an accredited institution that will meet your need of lower cost.

Attend the college part-time. You do not have to attend college full-time. My suggestion to many students has been to work in a non-college qualified full-time job in their field of interest.

One cost saving method is to buy used texts. One college textbook can cost a hundred dollars plus. Used texts are available at the bookstore and also online. Both half.com and Amazon.com sell used textbooks.

With the right balance of financial aid and penny-pinching there is a way for most families to pay for college. The important first step is to develop a plan that will get you there. Going into the process blindly is a recipe for disaster.

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