Robert D. Proctor, CFP, CLU, ChFC
Premier College Funding Solutions
www.mypcfs.com
Imagine your student waking up in her dorm next August and setting out for her first day of class. As she’s walking, she realizes she really doesn't have a clue as to why she's in college and even more puzzling, why she's at that particular university. Unfortunately, this is a scenario that plays out all over the United States. Is the student seeing the bigger picture or is she there by default and is not really engaged in the experience college can offer? This situation can be avoided with a little forethought and strategic professional planning.
Nearly 50% of college freshman will not graduate. Yes, I said almost 50%, and let me say that the other 50% take, on average, 5.5 years to complete their undergraduate degree. If you accept the fact that a typical private college today (cost of attendance) is approximately $30,000 per year, this endeavor is fraught with peril. A student attending two years and leaving without the degree leaves you around $60,000 lighter in the bank! However, this $60,000 pales in comparison to the potential loss in future income your son or daughter miss out on because the degree was not earned. According to some studies, a person with a bachelor's degree will earn, on average, $1,000,000 more than a high school graduate over their working career.
Is degree attainment only an economic consideration? Certainly not. A college degree can also lead to greater personal growth, cultural awareness, and increased social awareness. It is critically important for your student to go to college knowing why he/she is there. Unless the proper steps are taken to ascertain what the goals are (career planning), which institutions are best suited to attain those goals (college search), and which school is the best fit (selection) your student may not graduate.
As parents, we'd like to believe that the present system would not let this happen to our children. However, the reality is that the system is broken. How else to explain the data? College today is BIG business, expensive, and essential. Relying solely on the present system is a recipe for failure.
So what is a parent to do? Many quality companies have stepped forward to take on this challenge and provide needed expertise in the areas of career planning, college search, college selection, and college funding. They exist, not to replace what the high schools and colleges may provide, but to complement their efforts. Most of these companies will begin to work with your student, if you choose, as early as freshman year in high school.
Studies indicate 50% of people are not happy in their career choice. Perhaps many of them showed up on campus like lost sheep or perhaps they left college before completing the task. At this critical stage of their life, taking advantage of professional help can give our children a better future - both financially and mentally
- Related Videos
- Related Articles
- Ask / Related Q&A
- Students Should Compose Strategic College Funding Plan
- College Students Get a Jump on College Funding Strategy With Nextstudent
- Nextstudent’s Scholarship Search Directory: your Personal College Funding Resource
- Next Day Loans: Fast Funds Within a Day
- Unsecured personal loans: urgent funds without collateral
- Unsecured personal loans: urgent funds without collateral
- Stafford Loans for Your College Funding
- Using A College Federal Student Loan To Fund Your Education




LNT Battery Change - www.battery.com.au
By: Rainco | 28/11/2009After a long period of running out of time, the sight of the moon as we drove home this evening was enough to drive me to change the battery in the LNT module sitting atop my Meade LX90.....
EXAMINATION SYSTEM IN HIGHER EDUCATION-SOME THOUGHTS
By: DR.R.SRINIVASAN | 27/11/2009As we become more and more reliable to life long approach to learning, the greater the consequence of assessment of learning which doesn’t necessarily fit in to recognizable patterns. There is a need to monitor and review continuously the approach we use for assessment to assure the reliability and validity of the process. Examinations, tests, assessment or evaluation in Higher education system is a dreadful to most of the students.
Education consulting a high profit solution for student and faculty exchange programs
By: Harcharan Singh | 27/11/2009This is a very modern step taken by some Indian Management / Technical institutions / colleges / universities/ Faculty members travel abroad to learn & teach in overseas colleges / universities for a fixed period of time.
RUIS - Leading The Way In Space Utilisation Reporting For University And College Management
By: Andy Guest | 27/11/2009Prime Minister Gordon Brown promised an additional 10,000 university places in England in 2009, for students wishing to study maths, science, technology and engineering. With student applications up by 50,000 on last year before the government’s recent announcement, finding the physical space within classrooms, laboratories and lecture theatres to accommodate the additional courses is likely to be a headache for many facilities managers.
The winning pathway to get money for college
By: Allen Klein | 27/11/2009The path to get money for college. A few students can foot he college bills with the exception of the wealthy and therefore a route of finding the right sources to get money for college is a route worth exploring. The college costs of four year private college equal to over 20000$ each year. The purpose of college grants is to get money for college that will contribute towards making educational funds av...
I Am A Busy College Girl - I Need To Make Some Cash Money - I Also Need Good Luck!
By: Father Time | 26/11/2009Good luck charms for the Luck-Attracting request, and an opportunity to sell something for a cash profit! Two birds, one stone...(but just scare the birds...don't hurt 'em!)
Government Will Pay for Your Studies - Scholarships for Moms That Deserve It
By: Walter Sigmore | 26/11/2009Economy has not just troubled people at work; it has terribly hit the households. As a mom, you must have tones of responsibilities on your head already. In addition to these, you are taken aback by the worst economic condition that seems to burn a hole in your pocket.
10 Ways to Reduce College Costs and Avoid Debt That Can Take Years to Pay Off
By: Marc Hill | 26/11/2009Peek into the future of college costs and combine it with some smart strategies... you may be well on your way to saving thousands of dollars in college expenses.
Do you Only Rely on your High School Guidance Counselor for College Advice?
By: Bob Proctor | 18/02/2008 | College & UniversityThe majority of high school parents count on their school’s guidance counselors to steer their child in the right direction. Although not a bad option, is it enough? Most high school guidance counselors are already dealing with the normal emotional issues of a diverse group of teenagers, along with other serious issues such drug or alcohol abuse. Many simply don't have the time to be college planning advisors, as well.
Secrets to Minimizing the Costs of College That the Schools Don’t Want you to Know
By: Bob Proctor | 18/02/2008 | College & UniversityEverything surrounding college today is BIG business – and expensive! Like health care costs, the cost of college has been - and is expected to continue - increasing at twice the rate of inflation. If college expenses increase 7% per year, they will double in 10 years! So if the University of Illinois costs approximately $20,000 per year today, in ten years it could be $40,000.
The Ugly Truth About College Financial Aid
By: Bob Proctor | 18/02/2008 | College & UniversityMany parents assume their child would never meet the criteria for financial aid. Financial aid comes in many forms and failing to at least try to qualify for it is a huge mistake made by numerous parents of college bound students.
Why Some Professional College Planners are Better Than Others
By: Bob Proctor | 18/02/2008 | College & UniversityWhile it's true that college planning professionals have been around since the 1980’s, no standards exist as to what education or criteria are deemed necessary to qualify as one. Almost anyone can hang out the proverbial shingle and say they are a 'college planner'. Consider the following information when looking to hire a college planning expert.