A middle-class family I know recently had a financial catastrophe.
They applied for early admission at a good, but not great, 4 year college that everyone has heard of. This early admission binds you to that college if you are accepted.
Unfortunately, the college reacted with glee to their application, accepted them, and gave them no financial aid. A little over 60k each year, not counting travel costs.
Think about it. Traditional 4 year college, at a full fare price, could be the biggest financial catastrophe for a middle class family. How else are you going to spend a quarter million dollars, with no sure benefit over cheaper alternatives?
http://techcrunch.com/2013/02/11/a-...acing-physical-colleges-at-a-crazy-fast-pace/
They applied for early admission at a good, but not great, 4 year college that everyone has heard of. This early admission binds you to that college if you are accepted.
Unfortunately, the college reacted with glee to their application, accepted them, and gave them no financial aid. A little over 60k each year, not counting travel costs.
Think about it. Traditional 4 year college, at a full fare price, could be the biggest financial catastrophe for a middle class family. How else are you going to spend a quarter million dollars, with no sure benefit over cheaper alternatives?
http://techcrunch.com/2013/02/11/a-...acing-physical-colleges-at-a-crazy-fast-pace/