So you are thinking about what type of college your child might attend and calculating the costs. Should they go to public, should they go to private and how will you pay for either one? It’s important to be prepared and intentional, as planning for college also affects how quickly you reach other personal finance goals. We all know that private schools can cost up to 3x’s more than a public university. Therefore not only consider your budget, but also make sure the school is a good fit for your child’s personality and study habits. Here are a few tips to help you along the way.
Know the difference!
- Public colleges – (average tuition, room/board range: 13,000 - $30,000 per year) funded by the State, therefore tuition isn't the only source of funding allowing for lower tuition rates, more scholarships available. In-state college is going to be cheaper as they give preference to residents.
- Private colleges – (average tuition, room/board range: 35,000 – 50,000 per year) funded by tuition and ... (More)
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