Reasons why all parents and students should be 100% certain of their college decision
Written by Ben Marley on Dec. 19th 2019
With public colleges averaging around $27,000 per year and private colleges averaging around $54,000 per year, that adds up to $108,000 to $216,000 for a 4-year bachelor's degree.
A degree from a private school is roughly equivalent to the median home price in the US ($200,000). Before your high school student "commits to that house," it's prudent that they are 100% confident in their decision.

The latest studies say that 70% of college grads left school with student loan debt that averaged $38,000... back in 2017. At a standard 4.29% interest rate, this equates to loan payments of nearly $400 a month for the next decade. Graduates need a minimum starting salary of $47,000, just to be able to live while affording their loan payments. This amount of debt hamstrings a young person's ability to purchase a home, start a business, get married, and begin saving for retirement.
On top of that, historically, around one-third of students end up transferring colleges during their “four-year degree.” Nearly half who transfer wind up transferring again. One transfer adds around one extra year to completing a bachelor's degree. Transferring twice stretches that to an extra one and a half years due to certain credits not transferring, etc.

At just the state school level, one transfer equates to an extra $27,000 in college expenses. At the private school level, this transfer adds up to an extra $54,000. if your child is one of the students that decides to transfer twice, multiply these numbers by 1.5.

It gets worse.

In response to the ruling by the justice department that the bylaws of the National Association for College Admission Counseling stifled competition, in September of 2019 delegates from NACAC voted to make changes to the group's bylaws. These changes allow schools to offer incentives like extra financial aid for students committing through early decision, which is great when your child is 100% sure of their choice early on. However, if your child is wavering, watch out. The association also voted to allow universities to more aggressively pursue students who have already committed to other schools. On top of this, universities are now also allowed to poach transfer students who were previously admitted but chose to enroll elsewhere.

That means that if your child is at all uncertain, with this added pressure, they now likely have a greater than 33% chance of winding up transferring and incurring the extra expenses.

College is too expensive to leave any room for doubt in your child's choice. The good news is that worry doesn't have to be your new normal. You can get this thing figured out and enjoy the remaining time you have with your child at home. Through programs such as our College Admissions Pathway, your child can get the guidance they need to be one hundred percent sure in their college admissions decision. 

Let's have a conversation to get them on the path to their successful future today.

Ben Marley

Ben Marley helps families successfully navigate the college admissions process.  He is an expert at helping students find the right college using online methods and making things super simple to understand.
If you're interested in being 100% certain of your child getting into the college that's right for them, then definitely reach out and request a free strategy session today.
FB Comments Will Be Here (placeholder)