Higher Education Costs are hammering families everywhere
Sallie Mae is the largest U.S. student loan group.
Sallie Mae recently announced its first foreign venture…
a loan program targeting British post-graduate students.Just as in America, higher education costs are hammering
other developed nations and forcing a reassessment of
who pays, how and how much.
A “Free” university education (meaning one paid for by taxpayers)
and not students or their families in much of Europe,
was seen for decades as a basic right… Not Any More!
Britain in the late 1990s became the first European country
to impose more than a nominal university tuition fee.
Today in the UK, tuition is capped at about $6,000 a year
for full-time students who started school last autumn.
Still cheap by U.S. standards, but costly compared to most systems.
Tuition is being imposed for the first time in other countries,
including Germany this year.
Even in China and former Communist countries (where a free college
education was once politically sacred), students now are paying fees.
Many take out student loans to make ends meet.
The U.S. is #1 in college costs!
The U.S. has the world’s most expensive higher education system.
And the cost keep getting higher and higher. American students
pay an average of $5,800/year in tuition.
That’s to attend a four-year PUBLIC university.
For a private four-year school, it will cost an average of…
$22,200/year… according to the College Board.
The College Board is an educational testing and services group.
For middle-class U.S. families, college costs are a major burden.
Just this morning a co-worker of mine was complaining about the
25,000 after tax, out of pocket dollar expense he has to pay
to send his daughter to Boston University.
That’s a huge chunk of money for the average American family.
Most families don’t have that kind of cash and will have to borrow.
Students can borrow directly from the government, or from banks
through federally guaranteed private loans.
On the increase are loans from banks with no federal guarantee,
so you will end up paying more interest.
What College Students really need is More Scholarship Money.
More Scholarship Money means Less Loans.
However, 95% of scholarship applications are thrown away
without consideration.
Gain the favor of scholarship committees…
Win More Scholarships!
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TAGS:
Boston University, China, College Board, college cost, Communist, Germany, Sallie Mae, scholarships, student loan
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