Road to College: Getting the Best Education for Your Money

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Getting the Best Education for Your Money

State Colleges are helpful for students with modest financial means because they receive subsidies from the state. Private colleges may offer more individual attention but are usually too expensive.  Thus putting them out of reach for students without some kind of substantial scholarship or grant.  Follow this easy guide to understand how you can get the best education for the best value.  

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Is a Private College right for you?

Private universities and colleges are advantageous in that that they offer more individualized attention to students.  Applicants and school counselors typically look favorably upon private colleges as opposed to public universities.  However, research really is the key to finding the best public college for the least amount of money.

It’s important to note that private universities and colleges aren’t always expensive.  For example, let’s start with Ivy League colleges.  Students applying to Ivies, fall into two brackets: those from legacy families and those in the very top of their classes. It is possible to attend an Ivy League school without the necessary funds––but you’ll need to be the best of the best.

Like state schools, private universities are responsible for several things.  These include: faculty salaries, academic and sports facilities, science labs and libraries  all of which are paid for through tuition and donations. This is why private school tuition have risen astronomically in the last 30 years. Schools with large endowments are exceptions.  As these schools will pay all fees and expenses for students that are on need based scholarships. 

Getting the Best Education for Your Money

How Much Does College Cost?

Most Ivy League schools charge over $50,000 in undergraduate tuition per year. Although the most expensive college in the US is Harvey Mudd College, charging $64,527 per year. Obviously, some paths to higher education are more expensive than others.  So let’s focus on what you can do to keep your education affordable.

According to the College Board, the average cost of yearly tuition varied by type of institution. For private colleges, the average cost was $30,094.  While the average cost of public colleges for in-state students was $8,893 and 22,203 on average for out-of-state students.  Comparatively, the average annual cost of tuition for a two-year community college was $3,131.

Getting the Best Education for Your Money

Should you start at a Two-Year College?

A two year education at a community college might be the right fit for you if finances are preventing you from getting the education you want.   After you graduate you can transfer to a four-year, in-state public college to work on your bachelor’s. If this is the route you choose, make sure the four-year school you choose will accept your two-year credits.  Following this plan will save you tens of thousands of dollars and ensure you get the best education you can for your money.

Getting the Best Education for Your Money
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