Is it Worth it?: Planning for college in difficult financial times.
by Rebecca Joseph
I attended a private university, and my parents and I took out huge loans. Today,
I do not know whether I could afford to send my own child to that same college,
but I do know that I would make any sacrifice possible to give my child the
choice. College is a unique experience for children; it is our gift to them and their
futures.
Yet in these difficult economic times, many families are worrying more than ever
about covering the cost of a college education for their children. College costs are
higher than ever, student loans are harder to get, and college endowment are
shrinking due to the falling stock marketing meaning less money for financial aid.
What does that mean for families who are still committed to sending their children
to college?
DO NOT DESPAIR!!!!!!!! There are many options, several very close to home. I
advise that you look at the range of possibilities in your state from state
universities to community colleges. The price is usually right, and if your child can
thrive in large settings with not much structure or support but lots of sports,
activities, and academic choices. There are also great deals at private universities
and other state universities. You need to be persistent and find
what is right for your child and seek aidif you need it. It's better to apply now to
ally that youcan and that interest your child. Then see what the colleges offer and
push for the best aid packages you can as well as applying for scholarship.
For the rest of this article, I focus on how people living in California can make
decisions. You can use this discussion as a model for your family. If you don't live
here, look at the systems in your state.
Living in California is a blessing for many families as this state offers the high
quality of public higher education possible. 2008 General Cost of One Year of
College Education, including tuition, room, and board, fees, and books (Estimates)
University of California : $23,500
California State University : $12,268
University of Southern California $51,000
Santa Monica College : $ 1,230 (assumes child lives at home)
The UCs--We have the outstanding nine campuses that comprise University
of California system which offers students the highest quality education possible.
These schools are doing more than ever to build communities of students but
they are still large, large campuses. They have minimum standards for
consideration and the top four to five campuses only accept from 15 to 25% of
applications. With the worsening economy, expect more applications than ever.
CSUs--For other students who are not academically ready for the UC system and
still want a four year college experience, do not look down upon the California
State University 's 23 campuses. They offer the best bang for the buck, provide
strong educational programs, and will save families thousands and thousands of
dollars. There are big campuses-- San Diego State and San Francisco State and
small campuses--Channel Islands, Sonoma , and San Marcos . There are urban
campuses--CSULA and San Francisco --and rural--Humboldt and Chico . They
offer great academic programs but some do not offer much housing and are
primarily commuter campuses.
Community Colleges--Many students and families avail themselves of
California 's strong community college system. There are major pros and cons.
The positives are that students can remake themselves. As long as they get into
a transfer program, after two years, they can transfer to a UC or private college
without having to send any high school information or test scores. They enable
students who are not mature or still very family oriented to continue living at
home, and they provide huge economic savings.
I believe that along with these positives come some strong negatives. Students
do not experience a four year college experience. They do not meet as many new
people as they can. They do not get the social, interpersonal experiences that four
year colleges provide.
There are as many opportunities for students outside of the state as in the state.
Other public colleges--There are great public universities in Oregon ,
Washington, Arizona , Colorado , Indiana , Michigan , and Wisconsin . They are
great alternatives to the UCs and often do not cost much more. These large
schools are full of spirit, great sports, and diverse communities. None are as
competitive as UCLA or UC Berkeley, and many are no longer the party schools
they once were.
Private Colleges--Private colleges require huge financial commitments but are
often worth every penny for the student who wants deep interactions with
professors and peers. They offer once in a lifetime opportunities for students to
experience growth, experimentation, and community building. They range in
location, quality, and price. Some offer huge financial aid packages, while others
do not. When deciding whether to send you child to a private college, families
have to consider what they want their children to experience.
Dr. Rebecca Joseph provides individual, small group, and school-wide college
counseling to families and students. She can be reached at rjoseph@calstatela.edu
You can also post questions for her on her blog.