"For many, of course, the decision will be made on an economic basis. Which school has provided the most generous financial aid package? But since the differences in this regard are often small in comparison with the overall costs, the price tag may not tip the balance ..."
The very difficult thing for parents, as I hear it, is to have their child accepted to a college or university they want to go to, and then the financial aid package is none existent or nearly meaningless in the scope of the financial commitment. I know of one student that was accepted to NYU-Tisch, for instance. Of course the student was ecstatic, but the financial aid package was woefully inadequate. The parents of this student took out a $70k mortgage to pay for one year of attendance. Just one year. That is a patently absurd amount of money. Multiply that by four years and you are talking a $280k debt for the parent of a student of an Art School. What exactly are students paying for? The right to say they attended a prestigious school?
The first question every parent should ask before they are sucked into this College/University scam is "What is wrong with the local community, or state college, that won't saddle my kid, or me, with debt for decades?"
Read the Article at HuffingtonPost
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