So, you think college is in the business of education serving your best interests. I have news for you.
"Colleges are masters at molding their interests into the behaviors of society."
Let's see how.
Colleges are masters at making parents believe college is affordable by providing their own loans to the families for paying the college bill.
Colleges are masters at extending the term of college, meaning to lengthen the time it takes for earning an undergraduate degree.
Colleges are masters at having parents readily accept their asking price along with future cost increases.
I call this the Financialization of College, something for you to be aware.
Think about a few more things-
- What's the goal of the Admission office, is it to bring in desired students or to fill the freshmen seats with tuition-paying clients?
- What's worse for the college, is it to come up one hundred enrollments short or to have one hundred too many and not enough space?
- What's best for you, is it to follow the college's career counseling plan or to adopt your own?
I get interviewed often with the question-
How has college changed over the past ten years?
It's changed in many ways, but for the purpose of this discussion, it is the financialization of college. They are now in the lending business providing mortgage-size loans and extending credit to families without regard to credit-worthiness.
Just like GMAC or GE Capital, colleges are in the business of lending money to make their educational services appear affordable. And families are readily succumbing to this college-designed pattern of behavior.
College education is a debt-fueled business. Be aware that colleges are converting financial aid awards into "parent-loans" something you won't see until you receive the financial award letter. It is the new trend for which families are unexpectedly getting trapped. But that doesn't have to be your story.
CollegeLogic parents know to meet with the Financial Aid office long in advance of submitting applications to become familiar with their policy regarding financial aid awards and parent-loans. Knowing this can save your plan for retirement!
To learn more, click here- CollegeLogic
While on the site, download our free eBook- 10 Steps to Saving $50,000 on College Costs.
Awesome news! Our book continues to get great reviews and readership, click here-The Inside Secrets to Playing College Sports, What Every Mom and Dad Must Know
Office # 203.470.3704