EVENT RECAP: THE STATE OF COLLEGE 2020. HOW TO BEST PLAN, PREPARE AND SAVE THOUSANDS ALONG THE WAY
If it seems like tuition keeps getting more expensive, you’d be right.
College tuition increased by 1200% from 1987 to 2010. Today we are spending the same amount of money on college as we do for a house, and students can access debt by simply checking a box or signing a line—with no professional help or advice. College is one of the largest consumer decisions we will make, and it’s important to have all the facts.
On June 3, Gerber LLC joined forces with Aaron Greene, CEO of College Liftoff, for a Discovery event worth its weight in gold to anyone wanting to offset college expenses!
Aaron’s presentation, “The State of College 2020” outlined the four ways to measure educational return on investment:
- Career. Most high school students don’t know what they want to do with their life after college (arguably most adults don’t either), but that doesn’t mean they shouldn’t try to figure it out. Aaron’s team works with students and families to identify areas of interest, skill and practicality so together they can discover job placement rates, starting salaries, and the colleges or universities that offer that area of study. Students can then use their estimated starting salary as a limit to the amount of debt they should incur.
- Academics. Of course this is a high priority—the school of choice should have a strong program in the area of study the student is interested in.
- Financials. The financial aid office determines the actual tuition due from the student. Academic scholarships, endowment funds and need-based assistance can help offset the sticker price. Students should consider the market value of their desired degree, and not take out more than half of their anticipated annual salary in student loans. Parental contribution should not be more than the student’s anticipated annual salary.
- Fit. For the best success, it’s important that the student feel comfortable in the college or university’s environment. Large or small, urban or rural, the student should choose a school because it’s the best fit for them—not because of a team mascot, a football team, or it’s where their friends are going.
When planning is done right, students have a defined career goal, and feel confident about their school choice. Families are not overpaying for tuition, and students can properly control the amount of student loan debt. And students will graduate with the best preparation for the job market or graduate school.
Want to hear more of what Aaron discussed? You can watch his full presentation right here!
We hope you will join us for our upcoming Discovery events! If you have any questions, please reach out!