- By Matthew P. Binkewicz
- Around Town
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Lansing's Advice Column
Dear IMO,
Our son is a senior in high school. He, his mother, and I have been visiting local colleges and universities that offer his major. He has narrowed it down to one private and two state universities. The difference is yearly costs are astounding. If I have done my math correctly, he can attend the state school for four years and still not reach one year’s cost at the private one. My wife wants him to choose the school, but I’d like to have some say. What’s your take?
Reluctant Dad
Dear Dad,
The cost of college can be a cause of concern. When compared to private schools, state ones are considerably less expensive. Some argue that the extra cost of private colleges and universities “pays off” when companies are looking to hire new graduates. This may or may not be true depending upon the chosen career path.
What you need to examine are ways to ease the burden of tuition, room and board, and other expenses. If your son is eligible for scholarships and grants, he should apply. He should take out a student loan, and apply for financial aid. Most colleges and universities put together a financial aid package shortly after the acceptance letter is mailed out. This usually helps in determining which school one can realistically afford.
Before you make a decision for your son, sit down with him and your wife, and take into consideration all the expenses and all the possible sources of aid and assistance. Perhaps Aunt Tillie may have an unexpected sum of money for her favorite nephew as he begins his college career. Determine what you would pay for both public and private colleges based on the financial aid packages offered by the schools your son has been accepted to. You may discover that he can attend a private college without mortgaging the house after all. Carpe Diem.
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