Paying for College

College Costs: Where Will They End?

How much is enough? How much is too much? How much is way too much?

In a previous article, I noted how one particular school of a university in New York City has an annual total cost (including NYC lifestyle expenses) of over $75,000. That's for one school year. Nine months, actually. Granted a student there might get some financial aid, but the students I've worked with who have been accepted to NYU have not been overjoyed with the school's financial aid. The big draw for NYU appears to be the city of New York. NYU certainly has some outstanding educational aspects, but a $300,000 gross-cost price tag presents a challenging hurdle for most families, regardless of financial aid.

So, once again, we're faced with the old maxim: Return on Investment (ROI). I'm not picking on NYU. I'm just using it as an example of the runaway cost of higher education. Speaking of runaway costs, I often wonder how families are making ends meet these days with the prices of food, clothing, gasoline, and just about everything else climbing sharply. But, heading (or nearing the top of) the list of heavy expenses is college.

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