College tuition

Money doesn’t grow on trees.

By Frederick Halle

Knowing that buying a luxury car would cost approximately 75 thousand dollars, people would only buy it if their income was high enough, so why would you pay 42 thousand dollars a year to go to a private college/prep school, when your income does not allow you to pay so much?

Look at things this way. A parent making a certain amount of money is more likely to pay a higher price for their child’s education per year than buying a car or any other material products. Isn’t the human being exceptional?

You are probably asking yourself where I’m going with this. The main point of this is that you end up paying more than you actually were supposed to pay. Why isn’t every expense included in your tuition? The ones that aren’t included are called indirect cost, which is books, supplies and travel, as well as personal expenses such as a cell phone or food.

I’ll give you an example. A young man has been accepted to college x and he gets the y award. Therefore, he has to pay a total of $20,000. It includes his room and board, supplies and books. Some parents would pay that really easily but in this case, the parents have to make a huge sacrifice, which is to have a bank loan or an increase in their house mortgage. We all agree that this is an extreme situation. So imagine being this parent that did everything they could to pay that much money. In this case, where you’re limited in your expenses, you need to make sure that you count how much you will spend on the indirect cost. If you have to take a plane, for example, it could represent another grant.

Money is your education.

This is not only for an average incomes family; it’s also for a well off financial family. It is never pleasant to reach down your pocket and put more money on the table when you did have that plan in your budget.

Wherever you go or whatever you do, there is always more expense than the announced ones.

In average, other than the school fees, you might want to add between a grant to five grants. You understand that the 5 grants are if you have to take the plane many times over the year.

Knowing that many families make huge sacrifices, it would be great if all expense could be included in the school fees so that you wouldn’t have to spend one more dollar but it is just not an option.

Unfortunately, colleges can’t do that because some kids don’t live on campus, kids don’t have meal plans, and some kids don’t do laundry at school and not everyone needs the same amount of personal items.

Instead of buying a luxury car, you decided to pay for your children’s education, but once they’re done with school, you might want to buy this luxury car that you have been dreaming of all your life so you might want to make sure you don’t get screwed paying more than what you thought.