From our founder
When I worked with hundreds of families as a school counselor and as a college selection coach, the conversations about college were rather predictable, centering around three main questions:
- What is the best school for our child?
- What should she major in to get the best career?
- How can he get accepted at the best schools?
What these questions neglected to address were the growing role that finances play in a student's - and family's - college experience. Most often families will choose which school to attend and then figure out how to pay for it. However - once assumed to be a great investment - college has come under scrutiny in the last few years, not only for the exponential price increase, but for a seeming inability to prepare its graduates for the workplace.
Did you know:
- Only 59% of students who begin college at a 4-year institution this year will graduate?
- Colleges are given six years (not four!) to report the previous statistic?
- The average student changes his or her major three times?
- The average student loan burden on college grads is $28,000?
- Student loan debt is the only debt that cannot be dissolved in bankruptcy?
- 38% of college graduates are working in jobs that require only a high school diploma?
The "elephant in the room" reared its ugly, expensive head last year when the July Consumer Reports cover story on college debt read simply: "Going to College Basically Ruined My Life."
With these statistics - and my own experience as a college student - in mind, as a Certified College Funding Specialist I now ask parents these types of questions:
- How important is the price of college in determining which school to attend?
- Does the tuition at your child's preferred colleges make sense considering her career salary projections?
- Does your child want to graduate from college debt-free?
- What is the cheapest, fastest way to start the career your child has chosen?
- What impact will financing your child's education have on your retirement goals?
With questions like these as the starting point for a college search or a college financial success plan, families are equipped and empowered to make great decisions for everyone - the student, younger children, and the parents - both for the duration of college and for the long-term. Everyone wins.
Contact us today to learn how we can win together.
Sam Feeney, CCFS
With a background in education and school counseling, Sam first entered the world of college admissions as the founder of MyCollegeLifeCoach.com. However, he realized that without addressing the cost of college, college selection was incomplete. He founded College Funding Planners to teach families to make college decisions that empower - not hinder - them, especially in the area of finances.
M.A., School Counseling, 2008
B.A., English, 2000