Forbes Most Expensive Colleges

I've seen Forbes' list of most expensive colleges and it's honestly a bit intimidating. How do most students and parents deal with this level of expense?

You're right, the costs associated with higher education can be quite high, especially for those prestigious institutions often found on Forbes' list. However, it's essential to remember that very few students actually pay the full "sticker price" you often see listed. Here are a few ways students and their families handle these costs:

Student Financial Aid: This is the most common way students manage the cost of college. Federal aid, state aid, and institutional aid can significantly offset the cost. By submitting the Free Application for Federal Student Aid (FAFSA), students can unlock access to grants, loans, and work-study opportunities. Some institutions even offer need-based aid, which further lessens the financial burden. Merit scholarships might also be available for students with exceptional academic or extracurricular achievements.

Cost-Effective Choices: Many students choose cost-effective paths like attending a community college before transferring to a four-year institution, or pursuing their studies at a public university instead of a private one. Both of these choices can greatly reduce the overall cost of a degree.

Working & Saving: Part-time jobs while in school or during holidays can help offset some expenses. Some families also have savings plans like a 529 plan, which is specifically designed for education-related costs.

Negotiating Financial Aid: Students can negotiate their financial aid awards with colleges. If your financial circumstances have changed or if you have a better offer from another school, you can often provide this information to the financial aid office and they might adjust your aid package.

Remember, you should never let the sticker price deter you from applying to a college. Aim high, apply for financial aid, and make an informed decision when the time comes.