Going to college is a huge investment. But how much will it cost when my kids are ready to go? I wish I had the magic number.
Just recently, my cousin was sprinting towards the finish line, so that she could send her child off to college. She had to write letters, meet with the director of financial aid, call the school on daily basis and also put her own finances together. I’m sure it was stressful and crazy.
Her son is an uber-talented artist and got accepted into a good fine arts college that happened to be in state. Because he is super-talented, he also got accepted into a top 3 fine arts university.
The in-state college offered a 50% scholarship and the “top 3″ college offered a 35% scholarship, which pretty much tells you how talented he is. Even with those scholarships, it was hardly affordable.
Eventually, the in-state college offered more and he decided to go there.
After I saw what my cousin had to go through, I started to do some research of my own. Even though my kids are 5 and 2, I want to be prepared for what’s ahead versus waiting until last minute.
I found some really helpful information and I also found out that if your family meets certain income requirements, your child could go to college for free. Yes, you heard that right!
Recently, I wrote about how you could send your kids to Harvard, Stanford, Yale and Cooper Union for FREE. I found it fascinating and also reassuring that if I was having any sort of financial hardship, at the time my children entered college, I had options.