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Education is becoming increasingly expensive. You may now have to shell out as much as $100,000 to $200,000 per child going to college. 123 schools across the country are charging $50,000 a year total for tuition as well as expenses such as room and board. The state is also providing smaller budgets to public universities and colleges. So what should you do?
Know the tuition and other expenses.
This is pretty obvious. You have to compare and contrast the tuition and expenses that you might have to incur in your target colleges. Make a list of these colleges with their corresponding tuition and expenses.
Be aware of the financial aid packages.
If you cannot afford to pay the whole tuition, you might have to check out the colleges’ financial aid packages. Subtract the amount that the colleges could provide to the tuition and other expenses they charge. See which ones would have smaller balances.
Get ready for the worst.
For some reason, however, your child may not even be accepted to the colleges that you were eyeing. If this is the case, you only have a few options to consider such as large public universities and private liberal arts colleges. These schools still accept late applicants. You might want to be ready for their tuition, as well.
It is getting a lot tougher to send your kids to college, with tuition up and financial backing down. You might have to eye more colleges to find one that you can afford.
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