By: Tim Parker
The troubled global economy isn’t producing good statistics in any sector and some of these statistics are painting college as a less than attractive expense for many families. Although college still remains the best way to thrive financially, making highly informed, detail oriented decisions is even more important. Gone are the days when parents send their children to the college of their choice with very little discussion of cost. The value gained by a college education is in danger of being severely offset by rising costs and lowering wages.
Take a four year public school like Florida State University. For a resident of Florida, the cost of room, board, books and supplies comes out to $11,000 per year. With tuition increase and other expenses, the four year cost would come out to approximately $53,000. A private school such as Princeton University will cost $175,000 for a four year degree. The average scholarship amount of a Princeton student who qualifies for a needs based scholarships is $24,000 per year while Florida State students receive an average of $5,000. There’s a big difference between these schools but the costs don’t stop there.