11/17/2021
Mid-Day Vitamin: What Do I Control?
In a perfect America, legislation would be passed to place a cap on the maximum tuition cost that a University charges for Undergraduate studies. Also, could it be possible that institutions of higher learning, that receive Federal Financial Aid funding on behalf of their students, be mandated to lower their tuition cost or at minimum place a standard rate increase cap on annual tuition compared to prior year?
There are so many viable solutions that can be derived many different ways. However, until then, here are two things Parents can control:
#1 - Compare your child's University of choice to other alternatives. Public or Private? In-State versus Out-of-State? Plain and simple, if the cost is too high, then choose your second best option.
#2 - There are 18 years between birth and your child's life launch. Again, 18 years. You have a retirement plan for yourself right, but what about your child's life launch plan? How much did you save annually towards their education or adult transition? When did you start saving? Are you saving anything at all for their future? When will you start saving?
Time is your most valuable asset, not the amount you're putting aside. They are depending on you to control the controllables!
Your College, Career, and Life Planning Resource....FMBM