What Are The Typical College Money Traps To Expect?
College Money Traps
After Your Student Shows Up
To get more of your money in the college game, colleges and universities are like mosquitoes
1. Paper & Parking Copies from an ordinary copy machine can
cost 15 cents a page
2. Lost & Late Pay $25 to replace your lost student ID (Fitchburg
State University). A late
3. Picky & Petty Your student checks out a computer from the
computer lab. Not noticing
Colleges hide behind the firewall that protects them from the most
stressed bill-payers -
about what the student forgets, or ignores. Instead, being of legal
age, it’s the student’s
When does it end?
Never. The so-called “real world” started the day your student showed up. To add insult to injury,
colleges don’t wait for your student to graduate: they want contributions from you now. Like death
and taxes, solicitations are guaranteed until death. Actually, even after death.
What to do?
Both parent and student should have a copy of the college’s calendar of deadlines
and campus rule book. They are the gold standards used by the colleges to get your gold. Write
personal letters with documentation to reverse unreasonable fee charges. Read your bills carefully -
mistakes happen. Most of all, with patience, be a real pain.
Don’t bother reminding the college of the most sacred rule in marketing: the customer is always
right. They don't believe it for a second.
Cars On Campus. Oh-Oh!
OUCH! Will Your Child Do The Same?
A study indicates that your child will spend 1/5th of their time in a college class texting and "visiting" social media. And you'll pay for that activity. How?
Villanova University, one of the least generous colleges in the country when it comes to awarding scholarships, charges - ready for this? - $5,880 for one 3-credit course.
The study says your kid will spend $1,470 each semester for EACH class. With a total of 5 courses per semester, that's a total semester cost to you of $5,880.
Want more perspective? Over 5 years, that's $29,400 for your kid to text about last night's party, how boring this class is, or how hot s/he is who is sitting at the next desk.
What are you going to do about it before you send your child off to college?
Copyright Paul Hemphill 2018: The material contained in this course is protected under international and federal copyright laws and treaties and may in no way be reproduced, downloaded, or transmitted without the express written permission of the author. Any unauthorized reprint or duplication in any form is expressly prohibited. Any violation will be prosecuted to the fullest extent of the law.