hbcu
We all know that sending your kid's to college although necessary, is very expensive. Unfortunately, many parents are shocked when they discover the real costs they never considered and it's often too late to do anything about.
So what are these costs? First, let's start with the Colleges hbcu themselves.
Estimated Cost of Attendance
Every college hbcu by law has to post their estimated annual Cost of Attendance on their school's website. The cost of attendance is much more that tuition and room & board. There are books, lab fees, travel expenses and other miscellaneous fees(this is where they throw everything else, even fees not yet know). This seems pretty straight forward right?...Wrong!
If you ask any parent who has sent their kid's to college if the quoted cost was higher or lower that what they really paid, the answer is always "We paid much more then we expected!' -100% of the time.
The single biggest cost factor though is how long it takes a college to graduate your child.
Parents are still under the false assumption that college is a 4-year financial commitment. The reality is that 53% of colleges cannot graduate their students in less than 6-years! Do you know for sure the schools you're planning on sending your kids to will hit the 4-year target? If not, your costs are already 50% higher that you may have thought! What is really shocking is that the colleges do NOT post these statistics on their websites so most parents are blind to this massive price variable.
Tag: hbcu
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