john_nyc

As a father to a 3 year old and one on the way in 8 weeks I am already worried about paying for college. Private colleges are estimated to cost about $320,000 for 4 years when my son turns 18. Colgate is already $240,000 for 4 years so that $320 is pretty much going to happen.

How do you tell parents that have a child that academically deserves to go to a top tier university, but in no way would be able to afford it without going into a lot of debt? At what point do you tell a parent that depending on the career path your child has planned going to an expensive private college just doesn't make sense financially?

Does Colgate or other private colleges look down or not care if a student spends two years at a community or junior college taking core curriculum classes before coming to a private school to attack their major?

As a person closely dealing with parent and students I am just interested on your take when it comes to the financial aspect of going to college these days.

Thanks!

Thanks Karen. Really appreciate the link. When my sister and I were in college at the same time my parents didn't qualify for any aid so it did get expensive for my folks, but we did graduate debt free which was a huge deal. I just paid my wife's student loan off last year (15 years after she began paying it) and would hate to have my children in that position when they are just starting out.

With the economy struggling do you have any stats on the job market for grads? What % of Colgate grades are going from school to full time jobs? How many kids are unemployed 1 year after graduation? My hope is that in 18 years the job market will be thriving, but for kids in college now how many express the fear of spending 4 years studying to end up working at BK serving fries?