My Colleague recently shared this article with me about how families are controlling their out-of-pocket college costs: https://lnkd.in/gsuPYa9h Here are the important takeaways: 🔎 Many families are caught in the “donut hole” of college tuition, earning too much for need-based aid but not enough to afford full tuition. 💡 The Strategy: • Comparison Shopping: Families are exploring multiple colleges to find the best merit aid offers. • Merit Aid: Colleges offer "discounts" under fancy names like “Presidential Award” to attract students. • Undermatching: Applying to slightly less prestigious schools to secure higher merit aid. 📊 Key Insights: Broadening Trend: Merit aid is increasingly common at private colleges and public universities. • Kohl’s Cash” Effect: Merit aid acts as a simple price cut rather than coming from endowments. • Game of Prestige: Families weigh the value of a school's ranking against potential tuition discounts. 💰 Success Stories: Many students have received significant merit aid, reducing costs dramatically. T •Tools available to forecast / compare: These help families compare financial aid offers. More and more families are leveraging Merit Aid to make college more affordable! #CollegeTuition #MeritAid #HigherEducation #FinancialAid #CollegeSavings #Financial #financialtips #saving #collegeplanning #student
Jamison McAndie, CFP®’s Post
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The "New" Trick Families are Using to Lower College Tuition Bills is not so new! Jeffrey Selingo wrote a great article in "New York Magazine" about how merit aid increasingly favors middle and upper middle class families in America. We have seen this trend increasing over the last 20 years, in our work with students and families applying to college. Our students routinely are offered merit scholarships ranging from $25,000 to $35,000 a year off the full tuition price. My son was offered a $20,000 annual tuition discount at his intended school back in 2009, and he had a "B" GPA. The key was that he had very high SAT scores! High SAT scores (and yes, scores do matter again) = BIG merit scholarships at many schools, not every school, but many high quality, in demand schools. Our average SAT student sees a 200 point increase in their SAT scores, when following our program and process. Investing in SAT prep can reap huge financial rewards over the 4 years a student will be attending college. College admissions in America today is a very complicated process, and knowing how to effectively navigate this process is critical to having a good outcome (both in terms of finding a school that is a good fit for your child, and having them earn lucrative merit scholarships). Our work with the junior class of 2024/2025 is starting now for SAT prep and college admissions consulting. Spots are filling up quickly! https://lnkd.in/ejuAfydt
The New Trick Families Are Using to Lower College Tuition Bills
nymag.com
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Families are finding creative ways to cut college tuition costs by leveraging merit aid, often labeled with prestigious names like “Presidential Award.” Colleges, seeking to attract students who can pay more, are increasingly offering these discounts, even to families earning over $200,000. By comparison shopping among schools, families can secure significant savings, sometimes undermatching their child's academic potential to maximize financial benefits. This trend reflects a growing disconnect between sticker prices and actual tuition paid, making college more accessible for many. https://lnkd.in/dhHdUMU4
The New Trick Families Are Using to Lower College Tuition Bills
nymag.com
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Families are finding creative ways to cut college tuition costs by leveraging merit aid, often labeled with prestigious names like “Presidential Award.” Colleges, seeking to attract students who can pay more, are increasingly offering these discounts, even to families earning over $200,000. By comparison shopping among schools, families can secure significant savings, sometimes undermatching their child's academic potential to maximize financial benefits. This trend reflects a growing disconnect between sticker prices and actual tuition paid, making college more accessible for many. https://lnkd.in/eDZseNxK
The New Trick Families Are Using to Lower College Tuition Bills
nymag.com
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Before your child heads to college to further their education, you may want to get a head start on their college savings. Here are some strategies to help you prepare: https://hubs.la/Q02wR3SX0 #thealbanygroup
Getting a Head Start on College Savings
thealbanygroup.com
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Did you know the average cost of raising a child to age 17 is about $310,605? That’s nearly as much as the median home price in the U.S. at the end of 2023 ($417,700). Adding college costs can be overwhelming, with public four-year in-state universities averaging $24,030 a year. Here are a few strategies to help you prepare for these expenses: · Start Early: Begin saving as soon as possible to leverage compound interest. · 529 Plans: Utilize tax-advantaged savings plans. · Scholarships & Grants: Research and apply for as many as possible. Check out this article to learn more about how you can prepare for the cost of higher education; https://lnkd.in/gkHyd3_e
Getting a Head Start on College Savings
saxonfinancialgroup.com
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I build customized storytelling machines to engage audiences for higher ed, edtech and nonprofits. Message me for a client case study with measurable results.
𝗘𝘃𝗶𝗱𝗲𝗻𝗰𝗲 𝘁𝗵𝗮𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗮𝗰𝘁𝘂𝗮𝗹𝗹𝘆 𝗱𝗼 𝘃𝗮𝗹𝘂𝗲 𝗰𝗼𝗹𝗹𝗲𝗴𝗲, 𝗽𝗮𝗿𝘁 𝘂𝗺𝗽𝘁𝗲𝗲𝗻. The headline number here is that enrollment of age 25+ learners 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝟰𝟱%. Perhaps some of those people had earlier decided "college isn't worth it." More likely it simply wasn't affordable. And now it is with taxpayer support. https://lnkd.in/gyCUQrzq You can see this trend in several states. When taxpayers start taking on more of the cost of higher ed, the worth it question goes away. This is not just a "free community college" story. In fact, these examples have two things in common: states that start with M or New M and a political situation you're not allowed to talk about on LinkedIn. (It rhymes with emocratic ifecta.)😉 ___ New Mexico Opportunity Scholarship = statewide enrollment up 7%; University of New Mexico had largest freshman classes in history two years in a row; NMSU Global (online) grew 32.8%. https://lnkd.in/gmkbZw9b ___ Minnesota just implemented something similar and hopes to start seeing enrollment growth this year: "tuition freezes at many of the state’s public colleges and universities, and the North Star Promise Scholarship program, which pays tuition and fees for every Minnesota resident whose household makes less than $80,000." https://lnkd.in/geaYF8Ph ___ Michigan has had an age 25+ program since 2021 and has been yo-yo'ing the eligibility down to 21 when funds are available. https://lnkd.in/gje8hf6U Now they're launching a free community college guarantee for traditional age students. https://lnkd.in/gYnbSarr ___ Maine has had 12% and 16% jumps in enrollment at their community colleges. https://lnkd.in/gaR3hihE ___ What does this show? Lots of people want to go to college! That fact is missing from the discourse about #highered. One point that stood out to me in the 2024 State of Higher Education report from Lumina Foundation and Gallup was that more than half of stopped out adults want back in. They don't doubt college is worth it. https://lnkd.in/ga2h9e7z They stopped out or don't re-enroll because of the expense, debt and accessibility. And young people don't enroll because of doubts about career relevance. Those four areas -- expense, debt, accessibility and career relevance -- are the leverage points. Improve those, and enrollment goes up.
Department of Higher Education Data Shows MassReconnect Program Drove 45% Enrollment Increase in New Students Aged 25 and Older
mass.gov
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Happy College Savings Day! Check out our latest article to learn about the 5 ways that can help your child get into the college of their choice.
5 Ways To Pay For The College Your Child Wants To Go To
advisorstream.com
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It’s college admission season. If your child has gotten into a great university but it comes with a high price tag, you may be racking your brain to figure out how to pay for that school. You’re not alone in this anxiety: 78% of families say they eliminated a college from their consideration based on cost alone, according to a 2023 report by Sallie Mae. This is a discussion of five methods for paying for college and when each option may be appropriate. https://lnkd.in/e84x8BX5
5 Ways To Pay For The College Your Child Got Into — Cicely Jones Financial
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Streetbeat is revolutionizing college tuition savings with our innovative Tuition Rewards Program. With the cost of college continuously rising - 77% of families consider college too expensive - the average undergraduate tuition and fees at private nonprofit colleges reached approximately $41,540 for the 2023-2024 academic year. Our program offers a groundbreaking solution to this daunting burden of college expenses. By investing through Streetbeat, subscribers can earn Points that directly translate into substantial tuition savings – up to a whopping 25% off at over 450 prestigious private colleges and universities across the US. Imagine the impact: families can now invest in their children's future while simultaneously securing substantial financial relief for their education. Plus, with an annual subscription of just $159, subscribers receive $5,000 in reward points, along with a 10% annual bonus on their assets under management as points. It's a win-win! Our CEO, Damián Scavo Scavo, shares his personal journey and the inspiration behind our Tuition Rewards Program: "As someone who faced financial challenges during my own college years, I understand firsthand the importance of accessible education. Streetbeat's College Tuition Program would have been life-changing for me, and I'm thrilled to bring this opportunity to millions of families." You can read more about it here: https://lnkd.in/eY_GXves Ready to experience the future of finance and education? Visit https://lnkd.in/e-aCc4JZ to discover how Streetbeat can help you save on college tuition today. Don't miss out on this game-changing opportunity! #TuitionSavings #FinancialFreedom #EducationForAll
Unlock 25% College Tuition Savings with Streetbeat’s Innovative Tuition Rewards Program
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President and Chief Executive Officer, and Board Member, Education Forward Arizona. Helping students succeed; increasing postsecondary attainment to ensure a brighter future for Arizona
More Scholarships for Adults to Attend #CommunityColleges! Thanks to the City of Mesa and Mayor John Giles for inviting me to help announce the expansion of the Mesa College Promise program to include adults at Mesa Community College. Shout out to Google for the nice seed investment. It’s been estimated that #AZ has ~1 million adults with some education beyond high school, but with no degree. Education Forward Arizona knows that the algebra of attainment dictates that we support more programs that help upskill and encourage attainment among adults. Without a strong adult strategy we simply cannot reach our goals. Arizona’s #legislature would be wise to follow the lead of business in supporting adult and community college financial aid programs. The Mesa College Promise, now also aimed at adults, embodies a collective commitment to the #Achieve60AZ goal. By offering accessible pathways to higher education, programs like the Mesa College Promise play a pivotal role in allowing us to achieve this much-needed goal. By providing comprehensive support for Mesa residents to pursue #postsecondary education, we not only remove barriers to achievement but also pave the way for a more educated, skilled and competitive workforce! #CollegePromise #communitycolleges #workforcedevelopment #economicdevelopment #skills #degrees #credintials https://lnkd.in/g6Zx3nqT
Mesa College Promise expands free tuition offerings
ktar.com
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