| Choosing a College |
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| Written by Olan Chancy | |
| Monday, 03 December 2007 | |
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It is that time of year when high-school seniors stress over what college they will attend and when parents stress over how to pay for the secondary education. In years gone by, I really didn’t understand the reason for the worry. However, as the father of a high-school college bound senior, I now understand the reason for the consternation. Waiting until your child is a senior to plan for college is too late.
Many states offer prepaid college tuition programs, in fact the federal government allows for college IRA accounts. Both are great vehicles for savings. If you have young children or grandchildren, check out the programs. In Florida, one can lock in the current college rates by paying into the prepaid fund. These types of programs can save a parent thousands of dollars when your little one is entering the university system. Floridians benefit from the Bright Futures scholarship. Students can meet certain academic levels and their education is free if they attend a community college. Students can also qualify to receive either as 75% or 100% paid education at a four-year institution. Recently my son and I visited Appalachian State University in Boone, NC. My son has decided that is where he wants to ultimately graduate from. He is pumped and primed. However, as a senior, there is little he can do to boost his GPA up to the required level to guarantee his admission into ASU. While touring the campus, I was discussing a few topics with another parent. Her son was junior in high-school and was touring prospects. According to the parent, her son’s school recommends taking students on visits to prospective colleges during their sophomore and junior years. This provides a reality check for the student as to what will be required academically. It also allows the student and parent to evaluate the various campuses in a more relaxed environment. What a tremendous idea! This is a must as far as I am concerned. High-school graduation is an emotional time, a rite of passage and a time of great pride for both parents and child. By planning ahead for the economic realities of having a college student and by beginning the college selection before one’s senior year the stress of high-school graduation can be better managed. |
