College Expenses: Planning Ahead is a Must

Concept of expensive education - dollars and diplomaHow America Pays for College 2013” is a national study released by Sallie Mae that gives us a look college costs and who’s paying.

In addition, the report indicates that 85% of parents believe that a college education is a smart investment. As you plan your college visits, be sure to go prepared with a list of questions about financial aid and scholarships.


How America Pays For College 2013

Infographic – click to enlarge


Explore the infographic above (click on the image to open) to see how the parents surveyed report on where the money comes from when it comes to financing a college education.

College Money Tip:

Watch your expenses. Take out only the amount of student loans you need to cover college costs. Some students felt that a 3.4% rate justified using student loan money to cover living expenses, but that isn’t a sound strategy any more. Consider living at home, sharing a room, and take full advantage of your meal plan. Using student loan money to go out for pizza every week could cost you a lot of money in the long run.

— Jodi Okun, College Financial Advisors

What are you doing to save for college? Please share your thoughts and tips in the comments section below.