There are a lot of myths and misconceptions about going to school – here are nine as taken from “Debt Free U”:
- It’s important for parents to do what they can to help pay for their kids educational expenses, even if it means taking out a loan.
- Scholarships and financial aid will alleviate the burden of spiraling college costs.
- It’s unreasonable to expect students to be major sources of financing for their educational expenses while they’re in college.
- Student loans are a good form of debt: leverage. My child will be able to pay them off out of his future earnings. Student loans are unfortunate, but they won’t have a serious negative impact on his life.
- The name of the school on my child’s diploma will have a strong impact on her career and life prospects. The better the college she goes to, the more doors she’ll have open to her.
- “Thrifty” approaches to education like community college will have an adverse effect on my child’s life. You get what you pay for.
- The most important thing when it comes to selecting a college is finding a good fit.
- Guidance counselors, admissions officers, campus tours, and anecdotes from former students are great sources of advice and wisdom on the college application and financing process.
- The quality of the education my child receives will be largely a factor of the college he attends. Guides like US News & World Report’s “America’s Best Colleges” are valuable resources in evaluating possibilities.