“Borrowed Future” is an outstanding documentary movie made in 2021, that is now available to Amazon Prime subscribers for free. I HIGHLY recommend watching this show with your college-bound kids. This holiday break is a great time to grab some popcorn, enjoy some cozy time, and have some important conversations. (This is also a great documentary for anyone just wondering what the heck went wrong with our student loan programs in America. )
Some of the students I help come into the college search process with a GI Bill, Florida Prepaid, 529 savings, Bright Futures, or other college funds/scholarships. But MOST families (even those blessed with these colleges savings) do not understand the full cost of college, how it has ballooned over the past 30 years, and the potentially devastating impact of taking too much, or the wrong (predatory) loans.
The process of deciding which colleges to apply and attend is a fantastic opportunity to talk about how to make an informed, intelligent financial/consumer decision. MANY schools offer merit scholarships, institutional grants, or tuition discounts to students. And while expensive, the cost of college does not have to be a 30-year sentence to a loan that is oppressive and/or limits your son/daughter’s ability to buy a house, start a family, or feel the freedom of financial independence (which is the point of education, right?)
Whoever you use for college counseling please be sure they are also coming alongside your family to discuss *financial* fit. As always, I’m here if you have any questions!
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