Evaluate return on investment when choosing a college
With the cost of college rising, more parents are beginning to look at the return on investment of where they send their children to college and evaluating whether schools are worth their high costs.
As College Financing Group co-founder Andy Leardini told Buffalo Business First in a recent article, the college decision has become like any other purchase, and families must consider whether or not they can afford a certain college without letting emotions lure them into making an unwise financial decision.
“Parents realize the economy hasn’t changed much in the past six years, and they’re shopping for college like they would any other major product.
This isn’t an emotional transaction anymore.
As parents and students become savvier college shoppers, colleges that provide data on the return on investment of their product are having the most success recruiting students. Data that shows the starting salaries of recent graduates and specific majors, as well as average debt upon graduation, can provide insight into a college’s alumni network, reputation among employers, and generosity with financial aid.
Before taking out loans to pay for college, it’s important to evaluate the student’s future ability to repay them based on factors such as his or her intended major, plans for further schooling, and salary projections.
As a College Financing Group counselor, Leardini explains that his role is to help families make smart financial decisions when choosing a college by providing an objective voice in the college decision process. By introducing students to colleges that are both low-cost and high-quality, he helps families save thousands of dollars on college and avoid taking on a huge debt burden to pay for college.
To learn more about how we help families save money on college, check out our financial aid counseling programs, call us toll-free at 1-888-234-3907, or contact us using this form.