Parents, How Do You Afford This?!

June 14, 2012

Finances

Every once in a while, we discuss college with the kids. I have never been fond of the whole college thing. For one, only a mere fraction of adults I know ever used their college education for their eventual chosen career. And college is so wickedly expensive! HOW do you parents ever afford such stuff?? Even if a lot of the tuition is funded by the government (which doesn’t mean it’s free, it merely means that our taxes go up and up to pay for others’ tuition), the cost is still out of this world.

I saw this particular infographic at a northeast university. It’s HUGE (sorry for the length) but very enlightening. It explains the complicated loan options available.

I am shocked that 2/3 of students leave college with huge debt. I thought for sure that it would be 3/3! lol. And college costs have risen 90 percent since 1978. Wow, that’s just phenomenal. I wonder if government-funded tuition-welfare programs have driven that up.

Navigating the financial aid system infographic by Southern New Hampshire University, SNHU.EDU
Brought to You by SNHU.EDU Online College Programs

Anyway, online college looks better and better… but even the costs for that are going up because it’s becoming so popular. With many kids graduating from college $100,000 or more in the hole, I am absolutely baffled by how parents afford this. Tell me how you guys do it!

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4 Responses to “Parents, How Do You Afford This?!”

  1. Karen and Gerard Says:

    I guess people just go deeper in debt to pay for college. The year I graduated was the first year Dyke College offered the Principal’s Incentive Scholarship which I was awarded. I got 4 years of college for $500 plus cost of books. The deal was as long as I maintained at least a B average, they would pay for my next trimester. I maintained all the way through and didn’t have to pay any of it back. It was wonderful!

  2. lin Says:

    This is GREAT! I like the explanation of it all–makes it easier to understand–and MANY people don’t understand it all. FAFSA is REQUIRED–not an option. It is not a scholarship program, but a standard tool for measuring how much the schools think you can afford for college. Many people don’t understand what the FAFSA is or how it works.

    Yes, college is expensive, but I still think you need it in today’s competitive job market. I work in HR and I’ll tell you, we wouldn’t consider anyone without a degree.

    • Rebecca Says:

      Lin- I’m so glad you liked the infographic. I had no idea that FAFSA was required.

      I honestly think it’s too bad businesses look to the degrees. I suppose it’s too difficult to look to the PERSON, especially an unknown person, for a job. I have never liked college as “proof” that I can do something well. As you well know, college degrees and trainer certificates didn’t get in the way of me rebuilding my house from scratch, for example. I truly think that a motivated person can do most jobs skillfully with self-training. But unfortunately, we don’t live in that kind of world anymore. Oh well!