The answer is- more often than you’d think!  The draw of a public state college is its low starting cost to its in-state residents, but it is not that starting cost you should consider. It is your ending (out of pocket) cost that should concern you.

Yes, public colleges start lower, but also have less financial aid to award because they rely on funding from state and federal governments.  If you watch the news you know, when budgets need balanced, higher education funding is usually in the first round of cuts.

Private colleges don’t have as heavy a reliance on government funding- they have private donors and long standing endowments (invested wisely) that fund their financial aid programs.  These colleges are more able to meet the financial need of students who attend their college.

With this in mind, it brings planning to pay for college to the forefront of this video.  Knowing what your EFC is and knowing how much need a college historically meets is just as important as saving for college.  There are some family’s that make too much money and no amount of planning is going to help them to qualify for need based financial aid, but most family’s can and will qualify for some financial aid, but only if they plan ahead.

Watch this week’s video to see why planning ahead is so important.

Please do not hesitate to contact our office if you have question or to request a free consultation to find out if you’d done all you can to lower your out of pocket cost of college.