Monday, August 20, 2012

A Generation Hobbled by the Soaring Cost of College

What really startles me about the increasing levels of college debt is that parents and students don't seem to be aware of the costs.  As I began reading this NYT piece, A Generation Hobbled by the Soaring Cost of College the first issue that stood out to me was the story of Kelsey Griffith,  graduate of Ohio Northern University.

“As an 18-year-old, it sounded like a good fit to me, and the school really sold it,” said Ms. Griffith, a marketing major. “I knew a private school would cost a lot of money. But when I graduate, I’m going to owe like $900 a month. No one told me that.”

How does one not realize how much the cost of college is when they sign up for the loans?  However this happens to thousands of people across the country as they sign up for schools that they simply cannot afford.  As Griffith noted, when she visited Ohio Northern, she was won over by faculty and admissions staff members who urge students to pursue their dreams rather than obsess on the sticker price.

Just because you visit a college and fall in love with it doesn't mean that you should go there.  Parents and students should do their home work before visiting any college which would include a cost analysis.

Full NYT story here

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