Q: How did college tuition get so expensive?
A: The direct consumers (students) are not eligible to borrow without a parent or other co-signer, and parents, who feel their hands are tied, are borrowing limitless amounts on behalf of their child, who does not really know the difference between $10,000 and $100,000 because they have no point of reference for amounts that large. Colleges are taking complete advantage of this.

Q: What is the answer? 
A: Banks should not be allowed to loan students more in total than they can make in their first year out of college. Then students would have almost no other funding source and colleges would have to get more innovative. Letting capitalism and innovation take its course. In the next generation, we will see more arrangements like dev boot camps, certifications, and MOOCs that provide free access to education, even professor-led education.

Q: Don’t colleges have endowments to help fund students’ educations?
A: Many are sitting on billions in endowments without using them for scholarships, and are simply shifting one person’s tuition to fund another person’s scholarship.

Q: Then what are they using all that money for?
A: The consummate college experience. Lazy rivers, rock climbing walls, and Hilton-esque dorms. They are putting up new buildings on every block of campus to appeal to students. Proof: look at all the smaller colleges closing their doors, unable to keep up.

Q: But don’t they need those important academic buildings?
A: Labs and workspaces are important. Maybe just not so much bling.

Q: How CAN we honestly afford college?
A: Your student is actually your best and most important asset. When I work with students, they are prepared for college with a clear vision so they are not bouncing around in majors, racking up another year of tuition. They take college courses in high school. They have high-impact portfolios that enable them to be eligible for much higher scholarships. And, they can actually earn $72,500 WHILE they are in college.

Q: How can we put this into perspective?
A: Without a professional college planner, you will spend about $30000-50000 more than you should. Your student needs more than a 37-minute appointment each year with their guidance counselor. This is their life that is being planned. After all, would you send them out with a real estate agent to buy a house in 37 minutes without you? Yet that’s about the cost of college. You should reach out to My 4-Year Plan today. Limited spots remain for 2019 planning.