<p>M’sMom is right…start with the Money Talk from your parents…tell them:</p>
<p>1) Private universities are costing about $55k per year these days. Some give good financial aid to those who QUALIFY…and some don’t give much aid at all…</p>
<p>Instate publics can cost up to $35k+ per year if you’re not going to commute from home. Most kids commute from home for college, since most can’t afford room and board costs. </p>
<p>out of state publics can cost up to $50k per year…and they rarely give good financial aid…some do give merit scholarships for stats.</p>
<p>2) Schools often expect parents to pay at least 25% of their income for college…sometimes as much as 33% or more! A family earning - say 120k per year - can be expected to pay about $35k towards college (these are estimates). While these expectations may seem very high, they’re made with the idea that parents should have been saving for college all along. Schools also assume that the primary payers for college should be the parents…not the school.</p>
<p>3) Ask your parents how much do they think they can contribute each year. If they can’t contribute as much as schools will expect them to pay, then you need a well-thought-out strategy.</p>
<p>4) If your parents tell you that they can pay $55k per year, then good…you’ll have lots of choices!</p>
<p>5) If your parents tell you that they can’t pay much, then you need to look into schools that will give you merit scholarships or won’t cost much to attend (like commuting to a local public)</p>
<p>6) YOU can’t borrow much…YOU can only borrow the following amounts:
frosh 5500
soph 6500
jr 7500
sr 7500</p>
<p>7) Practice for the SAT and ACT, getting the best scores you can is a help.</p>
<p>8) Then, after you have your info…financial and scores, you can start assembling an appropriate list. Since you don’t know your choice of major/career, then a full university is best…flexibility.</p>
<p>9) Also consider what kind of college experience do you want…a spirited campus with big games to watch? a quiet small campus? A campus is a rural out of the way area? A campus in a city?</p>