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Rising College Costs Can Benefit Teens

Skyrocketing college costs definitely cause a lot of hardship for a lot of families.

And the $1.5 trillion of student college debt is a huge problem with many negative consequences.

But what if the rising cost of college also created opportunities that can benefit our students in the long run?

The high price of college is causing (or forcing) more families to talk to their teens about the cost of college and requiring them to pitch in to make their own goals a reality.

Is that such a bad thing?

Merit scholarships are awarded for achievement – not the student’s financial situation.  That’s good news.  It means that all students can benefit from having “skin in the game” and using their own efforts to lower the cost of college.

Merit aid must be deserved.  And that’s good news, too.

Sure, the cost of college is on the rise.  But it’s been expensive for a long time with costs up 1120% since 1978.  The continued price increase may be causing families to think more seriously about how much they invest in college and evaluating the idea of “best fit” colleges.

More students are doing things to help pay for college.  These efforts often enhance admissions success, too.  And lowering college costs may be the motivator, but each of the strategies below also better “prepare our kids for college and empower them for life. TM”

Here’s some ways students are lowering the cost of college using their achievements, efforts and uniqueness:

  • Exploring possible college majors with internships and community service involvements so they can avoid the cost of changing college majors.
  • Re-taking the SAT or ACT to increase the number of colleges that will offer renewable merit scholarships.
  • Working to contribute to the family budget or specifically to help pay for college.
  • Taking Advance Placement (AP) and other college courses to fulfill college requirements and reduce the cost of college.
  • Comparing colleges for cost, not only for the best college experience or “bells and whistles.” Rising college costs are giving pause to be more intentional about how much the family pays and what’s the best option for their students.

Unfortunately, though, there remains too little information to help families navigate the complex challenge of sending students to the best college for them at a price the family can most easily afford.

I spent 100 hours during my first round of looking for private merit scholarships for my eldest daughter, Rebecca.  We were too late to add schools to her college list that would likely offer large, renewable institutional merit scholarships. The $90,000 Rebecca was offered from one high-ranking east coast school, for example, came as a surprise...a very nice surprise!

In the end, my three girls won $600,000 in merit scholarships for undergraduate study and nearly $200,000 for graduate school.  The money is great.  The non-financial benefits are priceless!

It’s my mission to educate as many families as possible to take control over skyrocketing college costs so they can empower their students with “skin in the game” and have more option for how much they spend on college.

You don’t have to be overwhelmed or over-spend on the high price of college.  And all students can use their achievements to pay less for college. Get the latest info to win the battle on skyrocketing college costs with your students’ achievements.  Grab free resources at NancyPaul.com.

 

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