FINANCIAL SERVICES >> EDUCATION PLANNING

How much will it cost?

The cost of attendance includes tuition, fees, room and board, books, transportation and personal expenses. Click here for information on calculating cost of college education.

Should I pay?

You should consider college an Investment. According to U.S. Census Bureau statistics, people with a bachelor's degree earn over 70 percent more on average than those with only a high school diploma. Over a lifetime, the gap in earning potential between a high school diploma and a B.A. (or higher) is more than $1,000,000. What this boils down to is that whatever sacrifices you make for a college education in the short term are more than repaid in the long term.

How can I pay? (College Tuition Payment Plans)

Spread Out Your Payments - After you've selected a college, you'll receive a student bill that lists your costs. Gift and self-help aid will be subtracted from the total, leaving an amount for you to pay.

Research the College's Various Payment Options - Choose the plan that best fits your needs. For example, find out whether the college offers a deferred payment plan. You can use this option if you feel you'll have trouble meeting the cost of an entire semester.

Some colleges offer creative financing plans, such as prepayment of four years's tuition or paying on a monthly basis. Monthly plans usually give you the most time to pay. If the college charges a fee for its extended payment plan, weigh the extra cost against what you would earn by holding onto your money for a longer period of time.

If Your College Doesn't Offer a Monthly Option - If such a monthly option isn't available, ask for a recommendation for a commercial plan. For example, Academic Management Services offers a monthly payment plan at a reasonable cost.

Be Prepared for Non-Billable Costs - Non-billable costs are college expenses on top of the amount you're billed. Be prepared to pay directly for books and supplies, personal items, and travel. Plus, if you don't live and eat on-campus, you'll have to handle those costs separately.

College Loan Programs - There are lots of loan options out there. Read on for expert advice and information about all your options. Click here to review your college loan program options.

How best to put money away?

There are many misconceptions about finances. The average American spends more time planning their family vacation than they do their family’s finances.