College Admissions: Higher (Priced) Education

So, Junior’s into Yale. Congratulations — it’s gonna cost you $200 thou before he’s done. Strategies to fight the sticker shock

Don’t sabotage your kid’s future.
Look hard at the numbers before you let your child sign up for loans. What seems like a simple button-click today could affect his options (and happiness) far into the future. And be wary of for-profit colleges, which offer what’s been called “a credit card for higher education”—and have loan-default rates of 40 percent. Congress recently announced increased scrutiny of the for-profits’ lending practices, and with reason; they got $24 billion in federal loans and grants last year.

Think outside the box.
Community colleges are a terrific value, letting students take starter courses at -bargain-basement rates, then transfer as juniors to four-year colleges. You’ll save almost half the cost of a four-year stint at your child’s final school.