College Planning

6 questions every family should ask

Written by Jill Biggins Gerbracht

Although the college application process begins in earnest during a student’s senior year, there are things to consider along the way to ensure a successful outcome. College and career planning can be an exciting time for high school students and their parents—but it can also be intimidating, time-consuming and costly.

Pulse magazine shares six questions college planning advisors recommend families explore.

1. Do You Have a Big-Picture Plan?

Determine what your child is interested in to help them narrow down their options. Do they want an urban downtown campus, suburban or rural environment? What aspects of student life are most important to them? Do they have an area of interest/major?

Research has found those without a plan (who maybe pick a school at the best price) will spend up to 3.5 times more on college. Those who start with a big-picture approach will be able to visualize many key areas and can save a lot of time and money just on the planning process alone.

2. Are You Focused on the Right Goal?

Students often feel pressured to focus on getting into their dream school. Families can avoid pitfalls and unnecessary costs by ensuring their student’s first goal is determining their field of study and future career, and then using that goal to drive the college selection process.

Visit schools that will give you a sense of the “type” of school your child is interested in. Then compare the different schools and discuss the pros and cons and key things your teen likes or dislikes about each school to help finalize your decision. Focusing on the wrong goal can lead to difficulty in finding a job after college or taking up to six years to graduate. Resources such as onetonline.org and payscale.com can be helpful to explore.

3. Is College the Right Path to Success?

Many jobs today do not require a college degree. In fact, some of the largest employers are tossing out their requirements for college degrees and are focusing on upskilling   certification programs that build the latest skills. Get creative in your big-picture planning at sites such as profitableventure.com.

4. How Much Debt Is Too Much?

There are several ways to get a quality education without breaking the bank, including community college. Schools are required to have a real-price calculator on their websites, which will give you a sense of what you might have to pay to attend an institution. A big-picture, creative approach helps families in the planning process evaluate “what if” scenarios before incurring debt. The site studentaid.gov/loan-simulator can help you avoid this trap and do your own forecasting.

5. How Can We Cut Costs?

• Consider out-of-state schools at in-state prices
• Apply for scholarships, which are plentily available for just about any interest or specialization
• Consider opportunities for free college programs from employers
• Explore new alternatives to the traditional college path
• Attend community college for the first two years

6. What’s Negotiable?

While the cost of a college can be a deciding factor, a lot of other expenses go into the final amount you will actually pay, and it’s rarely the price listed.

The offer price listed in your child’s acceptance letter is just a start. You can compare and negotiate tuition, room and board, fees, terms and more. It’s easy to compare offers to other students from the same school with similar test scores and financial means using resources such as tuitionfit.org for increased bargaining power.