Young Dreamer? Some amazing information that you don't know about, concerning the cost of college education for your children.
Follow this article through to the end, to find out why those scary numbers on college costs for your children are causing sleepless nights.
https://www.nytimes.com/interactive/2018/06/05/opinion/columnists/what-college-really-costs.html?emc=edit_ty_20180605&nl=opinion-today&nlid=5466126520180605&te=1
It's something I always suspected, but couldn't believe. Having gone through an expensive college with scholarship help, some 60 years ago... I knew that my school believed in a moral responsibility to help deserving, aspiring and potentially productive good citizens. Giving back has provided my school, Bowdoin College in Brunswick Maine, with a current endowment of about one and a half billion dollars.
Much of this is going toward needs based scholarships for deserving undergraduates. The total enrollment for Bowdoin is less than 2000. The calculated cost for a student who might have no help, is approximately $70,000 per year. According to the study in the above cited article, the actual cost to the family of the student could be as low as $3K to $8K.
Sound strange? I would urge you to go to the website and to input nominal family assets in the calculator, for the school of your choice, to see what you might expect as support. In my case, because of the low college enrollment and the high endowment, the $$$ support from the institution is relatively high, but most schools DO offer scholarship dollars that can have a significant impact on your own retirement plans.
If you, or your children or your childrens' children have college in the future, knowing what may be available, could be very important.
The time spent in researching possibilities is incredibly important. I have three grandchildren who are all receiving good scholarships, even though their parents are reasonably well-to-do retired lawyers. The youngest has a 100% room, board, tuition and books 4 year scholarship that also includes a new computer every year, and one $12,000 travel cash stipend for one summer, to go to whatever country he chooses, to learn the lifestyles and needs. He intends to be a "doctor without borders" after graduation.
To put a fine point on this subject, here is a website that lists many scholarships that are available.
College Scholarships: Find the Best for 2017-18 and Beyond | Money
If this has interest to you, I would urge some in depth study of the subject. Leaving college without a $100K or $200K debt may be possible.
For me, as a young student back in 1954... Bowdoin was a dream come true.
In many, many schools, and from many, many compassionate and forward thinking sources, the dream is alive.
Follow this article through to the end, to find out why those scary numbers on college costs for your children are causing sleepless nights.
https://www.nytimes.com/interactive/2018/06/05/opinion/columnists/what-college-really-costs.html?emc=edit_ty_20180605&nl=opinion-today&nlid=5466126520180605&te=1
It's something I always suspected, but couldn't believe. Having gone through an expensive college with scholarship help, some 60 years ago... I knew that my school believed in a moral responsibility to help deserving, aspiring and potentially productive good citizens. Giving back has provided my school, Bowdoin College in Brunswick Maine, with a current endowment of about one and a half billion dollars.
Much of this is going toward needs based scholarships for deserving undergraduates. The total enrollment for Bowdoin is less than 2000. The calculated cost for a student who might have no help, is approximately $70,000 per year. According to the study in the above cited article, the actual cost to the family of the student could be as low as $3K to $8K.
Sound strange? I would urge you to go to the website and to input nominal family assets in the calculator, for the school of your choice, to see what you might expect as support. In my case, because of the low college enrollment and the high endowment, the $$$ support from the institution is relatively high, but most schools DO offer scholarship dollars that can have a significant impact on your own retirement plans.
If you, or your children or your childrens' children have college in the future, knowing what may be available, could be very important.
The time spent in researching possibilities is incredibly important. I have three grandchildren who are all receiving good scholarships, even though their parents are reasonably well-to-do retired lawyers. The youngest has a 100% room, board, tuition and books 4 year scholarship that also includes a new computer every year, and one $12,000 travel cash stipend for one summer, to go to whatever country he chooses, to learn the lifestyles and needs. He intends to be a "doctor without borders" after graduation.
To put a fine point on this subject, here is a website that lists many scholarships that are available.
College Scholarships: Find the Best for 2017-18 and Beyond | Money
If this has interest to you, I would urge some in depth study of the subject. Leaving college without a $100K or $200K debt may be possible.
For me, as a young student back in 1954... Bowdoin was a dream come true.
In many, many schools, and from many, many compassionate and forward thinking sources, the dream is alive.
Last edited:
but after seeing the difference this will mean in their lives, I can understand why they all worked so hard to find the right path. Much sacrifice along the way, but ultimate rewards... Hopefully a future not clouded by heavy debt.
