Did you know that the average family in America earns $50,000 per year?  And did you know that spending one year at many of America’s elite private colleges and universities will cost more than that? According to the Chronicle of Higher Education, there are 58 private colleges charging at least $50K for tuition, fees, room and board — up from “just” five colleges charging that much last year. Top of the list is the all-female Sarah Lawrence College, at $55,788/year. To put that price tag in perspective, I liked this quote from the article: Before the 1980s … people at private colleges had a rule of thumb: A year of private education should cost about the same as a new Chevrolet. “You don’t have to pay $50,000 for a new Chevy these days,” Mr. B...

This is not exactly financial aid related, but I saw this cool website and just had to share. GreenReportCard.org provides in-depth sustainability profiles of three hundred colleges and universities across the United States and Canada. The extensive data for this project is based primarily on information gathered through voluntary surveys of school administrators. There are nine main categories, such as green building, food & recycling, student involvement, and transportation, by which schools are rated.  A compilation of these nine ratings is calculated and then each school is assigned a final grade. My quick perusal of the website shows grades ranging from D- to A-. I have yet to find an A or an A+ yet…I guess when it comes to green, there’s always a little room for...

The Chronicle of Higher Education is reporting that Rochville Univesrity has awarded a dog an M.B.A. Apparently this “diploma mill” of an online college received a check for $499 from Chester Ludlow — a pug — and sent in return a package containing a diploma and transcripts. Included as well were a certificate of distinction in finance for the pooch, and a letter documenting Chester’s participation in student council. Here’s GetEducated.com’s video about the stunt, which they pulled to warn about the dangers of diploma mills (“Dog Earns Online MBA: A Cautionary Tail.”) Are you thinking about getting your degree online? There are hundreds of reputable and worthwhile online institutions and hybrid schools (brick-and-mortar schools wit...

Welcome to the part III of our series on ways to reduce the cost of college. If you are currently suffering from college sticker shock, this series if perfect for you! Check out past posts on how to reduce the cost of college, including graduating in three years rather than four, and attending community college for up to two years before transferring to a four-year university. This week’s idea for cutting college costs is to volunteer… specifically be an AmeriCorps volunteer. If you aren’t familiar with AmeriCorps, it is President Clinton’s public service initiative, similar to Peace Corps but for populations in need right here at home. A network of service programs across the country aims to meets critical needs in education, public safety, and health. If you wan...

Welcome to the second part of my new series on ways to reduce the cost of college. Even if you have been savvy college shopper and received financial aid, you might still be suffering from sticker shock.  So last week we talked about how to save one-quarter of your tuition, room and board costs by graduating college in three years rather than four. This week I’m exploring how community college can help you keep your costs down. One of the best ways to cut college costs is by enrolling in a local community college for the first two years, then transferring to a four-year school. Your diploma will be from the four-year institution, but your out of pocket expenses won’t be. Take for example my neighbor, who just finished her freshmen year at Johnson County Community College (...

Did you know that the average college student spends $1,000 a year on textbooks? With a whopping bill like that, it’s definitely worth it to try to save as much as you can on books — however you can. So before you hit the campus bookstore, be sure to read these six tips for saving cash on your textbooks. Buy online. But be sure to choose a vendor that offers free expedited shipping. Choosing ground can cost you a few weeks at the beginning of the semester without your books! Some of the most reputable online vendors include textbooksRus.com, Alibris.com and AbeBooks.com. Buy used. But be sure to check that the textbook is in good to excellent condition. You can save 30-50% of the cost by buying used, but a book that is missing key pages is obviously not much of a savings! Ch...

Earlier this week we talked about whether or not distance learning is a good fit for you. Even if you passed our five-question “quiz” with flying colors, there’s another factor that any would-be student needs to consider: Cost. The viability of financial aid is a major factor for many students in selecting a school, and online schools are no different. In fact, a new study recently revealed that at least one in five college students in America is facing a shortfall in parental support due to job loss. Until 2006, U.S. law denied federal financial aid to any student who attended a college that enrolled more than 50 percent of its students at a distance. Fortunately, Congress saw fit to change that law and now online students at accredited schools are eligible for all fo...

Thanks in large part to the recession, the distance learning world is booming. Many job seekers are deciding to wait out the recession in the classroom — virtual classroom, that is. And even those with secure jobs are buttressing their resumes with advanced degrees or certifications that they can earn online. The number of distance learners has climbed 20% since 2002, with more than 3.5 million Americans currently estimated to be taking at least one online class. Are you thinking about pursuing a degree online? Distance learning is increasingly viewed as equally reputable with studying at a brick-and-mortar school. (Here are two recent articles from HR professionals and job recruiters that verify this.) Even still, studying online still isn’t for everyone. How do you know if ...

Last week, I mentioned that the summer is the perfect time to set up college campus visits. It’s a good idea to schedule your trips to a wide variety of campuses — large and small, urban and suburban, private liberal arts colleges and public research institutions. The more places you visit, the better you will be able to assess what you really want in a college or university. As you plan your college visit schedule, you may not be sure what to expect. Here are five tips for making the most out of your college visits. 1. Take the Guided Tour When you call the Admissions Office to set up your campus visit, be sure to schedule a guided tour of the campus. Typically, these tours are led by an undergraduate volunteer, who takes groups of students and parents through the main parts...

Are you about to start your senior year of high school? If so, you may be wondering whether you are on track for college next year. To make sure that you are organized, read through the following checklist — AKA the Summer Action Plan for high school seniors. (And, if you need even more help with getting organized, be sure to keep your eyes peeled for the Fall Action Plan for High School Seniors coming in September!) 1. Take the ACT or SAT Hopefully you already did this last spring, but if not, there is still time. Sign up now, and start studying. The next SAT test is October 10, 2009, but you must register by September 9. The next ACT test is September 12, with a registration deadline of August 7.  If you’re not sure which test to take (or whether you need to take both of t...