Is the very thought of paying for college allowing you awake at nighttime? Are you dreading what life might seem like financially if you decide to cover your kid’s college education expenses? Before throwing inside the towel, discover 3 myths which could very well be stopping you moving forward and the facts that will give you hope.
Myth #1: A College Education is Too Expensive
This myth is funny given it has spread inside the media like wild. Consider this; say I was a faculty teacher earning $44,000 each year. I plan to purchase a brand new car and naturally I head into the “so called” best dealer in town. In my town this occurs to be a Rolls Royce dealership. I check around and soon realize that the average valuation on the most basic model is $295,850. I leave shaking my head telling everyone which will listen, “a car is way too expensive”.
The Truth – A College Education is NOT Too Expensive
The facts are that the specific college your little one is interested in could possibly be too expensive for ones budget but it’s not not affordable for the right buyer. Just like the car example above, as we were friends, might you agree with me that cars on this town are just too costly or do you tell me “Hey Buckwheat, keep shopping with the 5,000 other dealerships in this particular city.
Myth #2: Student Loans Are a Necessary Evil
This myth is traditionally spread by experts who really should know better. In an effort to get their advice, many federal funding professionals make these types of statements to allow you to as a parent at ease debt.
The Truth – Your child can buy a free from debt degree. As the financial landscape shifts with this country, parents are rightfully increasingly skeptical about taking up excess debt. Sadly, when asked the question about how exactly to pay for college, many parents are now being advised by some federal funding counselors to choose excessive figuratively speaking that are totally unnecessary.
Myth #3: I Must Come Up With All Tuition Money At Once
This myth is a great one as it preys with a person’s lack of knowledge regarding how payments are processed for college expenses. Many people believe that they must develop the full level of the cost of tuition, room and board, and books at the same time.
The Truth – In most cases you do not need to have 100% in the money for your son or daughter’s education rather you could be able to setup an installment payment schedule with the university. This helps because on many occasions, because payments are dispersed out as time passes, it now becomes possible to purchase a schooling without loans.