Presidential Game-Changers
Financial aid for college has come a long way in the last 30 to 40 years. College, which once was primarily the domain of the rich and privileged, has increasingly become available to the average family. It’s likely that this process is going to continue under President Obama’s administration and a Democratic majority in Congress.
WORLD WIDE WISDOM
One of the best features of Google is its “Alert” system. This system allows you to enter multiple search terms that matter to you, with Google e-mailing you whenever it finds something new on the Web that relates to that topic. This is especially helpful for staying on top of new and promised programs that you might be depending on, as well as programs that might be subject to budget cuts.
That has implications for all of us, both in the short term with the tuition bills you have to tackle now, as well as for your children and grandchildren and the educations they might or might not receive. You need to do your homework as a taxpayer and share your voice when it comes to the current programs paid for with taxpayer money. You also need to stay informed about the program changes as they come. I’m continually surprised by how many people are misinformed about the education funding promises that have been made, have been fulfilled, or are languishing by the latest batch of politicians. To stay informed, I strongly suggest signing up for a few of the good blogs and newsletters I’ve listed in Appendix C, beginning with my blog at CollegeSavings.About.com.
The Least You Need to Know
• Before you commit to a specific college or major, perform return on degree and return on major calculations to see how it matches up against your other options.
• The cost of grad school can be outrageous and isn’t the instant ticket to success it used to be.
• A two-year associate’s degree from a community college increases a worker’s lifetime earnings by nearly 50 percent, while costing very little.
• Attending a community college for two years and then transferring to a four-year school for the final two years can save you tens of thousands of dollars.
• Politics can change the college funding landscape overnight, so you need to stay informed.
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