Managing the Costs of Higher Education discusses the rising costs of higher education and provides advice for planning. It notes that tuition at Ivy League schools is $47,000-$63,000 per year, while state schools are $10,000-$15,000, not including living expenses. Too many students take on unmanageable debt without proper planning. The article recommends that students start planning in junior year of high school by taking assessments to help identify career interests and abilities, then researching postsecondary options, as college may not always be the best path. Seeking advice from a mentor can help provide a more objective perspective for important life decisions. With informed planning, students can choose the right and most economical postsecondary option

1. Managing the Costs of Higher Education
By Kay Walker, Ed.D
We are now in the throes of summer with students at camp, in summer jobs, hanging out,
playing video games and doing everything teenagers do. Many are making college visits,
studying in SAT prep classes, and thinking about their futures, too! In this fast-paced and
increasingly global economy, it is really essential that parents and students begin planning post-
secondary strategies well before graduation.
Costs of higher education are rising. Tuition and fees at Ivy League schools will range from
$$47,000.00 to $63,000.00 per year for 2015-16. Regional private schools like Vanderbilt and
Emory have similar tuition rates. State school tuition at research universities is about
$10,000.00 to $15,000.00 per year. This is a lot of money, and does not include the cost of
living and transportation. Too many students and families are going into unmanageable debt as
a result of this heavy responsibility.
All parents want the best for their children. Unfortunately, many students make post-
secondary choices based on impulse, peer pressure, or gossip. Because parents are sometimes
not informed, kids enroll at the wrong schools and sometimes waste years and countless
amounts of money with nothing to show for their time and treasure. Careful study and
planning can help everyone avoid this situation. Even changing majors incurs unnecessary costs
as most students must take extra courses and spend extra time in school whenever they change
majors.
Junior year in high school is the time to start making serious plans for after graduation. There
are very simple and accurate assessments available for students to take which can help them to
assess their innate abilities and characteristics. Many recruitment firms and companies use
these types of objective assessments to successfully place candidates in jobs. With the results
of scientifically validated assessments, students and parents can discuss possible career paths,
using the data describing traits, interests, and passions. Once career paths are established,
research can provide the best value in post-secondary options to pursue after graduation. This
is not always college! It may be a career technical academy or even an apprenticeship. And
smaller colleges, especially for the first two years, are a great value!
Sometimes it’s helpful to have another adult or mentor counsel with the student. Emotion and
control issues should not enter into these most important life decisions, and it’s frequently
difficult for parents to have these discussions with their teens. You will save money in the long
run if you and your child make the right, informed, most economical choice!