Costs Of College: What Parents Should Consider While Looking At Schools
College Inside Track’s Cozy Wittman was featured on WCCO TV discussing a financial framework for how families should think about their college search.
Cozy emphasized narrowing visits down to schools with the right academic rigor, social environment and price point. She says she often consults with families who haven’t put much thought into paying for tuition beyond the first, freshman year, and that it’s best to start crunching numbers early.
“I would encourage families to start at the beginning of their search and think about the parts of the puzzle that are going to come together,” Wittman said. “Create your budget for college. Most families don’t think about budgeting for college either.”
She advises starting with the amount of money already saved up through college funds, then incorporating what family members would contribute, if anything.
Then, when looking at specific schools, she suggests considering what grants are available—whether need or merit-based. After that, factor in loans.
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