Family Guide to College and Financial Planning

Page 6

A Best Buy College? Cost vs Value and How to Know the Difference by Dan Crabtree

College is an investment. If you purchase a new

them were in college at the same time. During those

car, within a few years it is worth far less than you

years, the annual sticker price was more than my

paid for it. However, the investment in a college

take-home pay.

education at a place like Anderson pays dividends for decades – perhaps 60 or 70 years! To be sure, a college education is likely to make a person more prosperous; the lifetime income of families headed by individuals with a bachelor’s

“A college counselor I know gives this advice to parents regarding, choosing a college: “‘Beware the high cost of saving money.’”

degree will be about $1.6 million more than incomes of families headed by those with a

How did we do it? We managed because we value

high-school diploma. But a college experience is

higher education and were committed to it – but

about much more than money – it is about how

also because of financial aid, which is designed

college helps shape a person, how it affects his or her quality of life, and the potential to make a difference in the world.

specifically to help enable students to attend the college of their choice. Yes, it required discipline and choices; we took out

“A college education is an extraordinarily profitable investment...Unlike most purchases, a college education appreciates in value rather than depreciating.”

Katharine Hansen Quintessential Careers

loans and I drove an old car (which, after eighteen years, we have just recently traded in). But we were successful in having our daughters attend the college of their choice – an investment we’d make again in a heartbeat! (Note: I know that many people are leery of loans. So am I – it is my firm position to never pay interest on anything that depreciates in value. But I will borrow for two things: a home – which historically

The prospect of four years of college expenses can appear daunting. I understand this – I’ve been there. My wife and I invested in having our three daughters attend a Christian college – a total of 24 semesters of college. There were several years when two of

appreciates in value – and a college education.) I don’t have to tell you that cost and value are not the same things. You can be penny-wise and pound-foolish, especially when it comes to the vitally important college choice.” (Continued on page 6)

4 www.andersonuniversity.edu


Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.