Harvard is cheaper then penn. I figured that out! I'm going to Harvard .

Time for parents to consider if the outlay of cash to administratively bloated colleges and universities is worth it. Leaving with a degree and a big debt into a world in which that degree is not particularly valued might not be worth the sacrifice to get that degree... perhaps a look at vocational schools, internet schools (e.g., Phoenix University?) , community colleges, industry based training schools... in any case, it will help if parents shop around and not be taken in by sports-page advertising.

I think there is a typo here. Penn State tuition, room and board is closer to $26,000 for in state students.

Baccalaureate degrees are worthless unless it's a stepping stone to professional school, or is in some area like engineering or accounting. Schools like Phoenix U lower the bar by selling degrees. 4yr colleges these days are like finishing schools of yesteryear.

Mary, Penn State is not part of the state system. It is state related and does not answer to PASSHE.

We and our daughter's grandparents are saving. Also contributing to college savings for other children in our family.

I believe parents should pay or help out if they can. If not the student can get a student loan. Either way the child needs to use the education for a career,not to waste time and party.

The comments made have been right on target. We are going through the process now. The annual "all in" cost for a very good private liberal arts college will exceed $60,000. It is likely, with costs rising each year, that we will spend up to $250,000 for the 4 years. Due to changes in our suffering economy and the overall shift in the skills the world demands, it is somewhat likely that there will need to be law school, or graduate school, etc. The question " is it worth it" is very real, indeed. If a family does not qualify for financial aid, the overall burden is eye popping. I certainly recognize that the prestige of some schools, in and of itself, has value- especially with a strong alumni that help graduating students find jobs. I still believe that many of the basic entry level classes will be the same material at most colleges. Are the "added intangibles" worth the huge difference in costs? Unfortunately, I am becoming more and more convinced that it is mostly up to the student, not the college- and thus really not worth it. I am very interested in others' comments.

I'm currently going to college, and this fall will begin my sophomore year. I go to a private college, Gwynedd Mercy, and commute from home. For one semester, the cost (without the room and board) is about $14,000. My parents can not help pay, and have always said they would not help since I was a child. How nice it would be if they could help just a bit! After scholarships I receive from Gwynedd, I borrow from the government and take out a private loan from Sallie Mae, which is awful. I'm always stressing about making my monthly payments to Sallie Mae, and having enough money to pay back both the government and Sallie Mae after I graduate (don't forget about all the added interest!). And then once I get the loan for the semester squared away, I then have to worry about paying for those costly textbooks.
I'm getting a triple certification in teaching (early childhood, elementary, and special), but I always hear about how schools are not replacing retired teachers and doubling class sizes, which always makes me worry if my BA degree will even be worth anything without the Master's, which would just mean more schooling. Maybe college will turn out not to be worth it at all. But at this point, I think its tough to say whether it will be, since it all depends on the job market a few years down the road.

Brittany, it is so refreshing to hear from someone like yourself who is focused and working hard to try to build a better future. I applaud you. In your case, it certainly seems that college is the right answer; though I don't believe that is the case for everyone. I just think there needs to be a much higher level of scrutiny about whether ones field of study will translate into a job and whether expensive private schools are the answer. I realize that this is not a "one size fits all" question. I am just very much troubled by the insanely high cost at many fine educational institutions. Should one look for a much less expensive alternative, do real well and then go to a very prestigious graduate school?

I went to Penn is is absolutely not worth the money

you get what you put in, both money and effort. I say stick to universities with an international reputation. That tends to open doors that other sheepskin doesn't

You need to do the research on what your EFC is -- Expected Family Contribution. That is what you will pay, wherever you go. More expensive schools (private) may in fact meet the difference. Many options, but go to FINAID.org and use the free calculators. (I believe FinAid is owned by Monster.com, but they already buy data from the College Board which is why you get all that stuff once you take the SAT tests). Once you know what you/your family is expected to contribute, you need to research how much of "demonstrated need" your target colleges will likely offer. Bottom line -- be the best student you can be so you can have more control of your own future. State schools are perfectly acceptable as entry options.

We are fortunate that both our kids worked hard and, consequently, did well academically and athletically in high school because, honestly, they would not be attending private colleges if they did not get both academic and athletic grants from their respective institutions. I cannot stress to parents and kids enough how important it is to do the very best you can academically and developing to your full potential in your extracurricular activities (not just sports if that's not your thing; drama, art, music, student government, academic clubs, etc.).
My kids did not get full rides because they do not attend D1 colleges, but they got significant amounts from their colleges due to high GPA's and their athletic recruitment. Our contribution is very manageable due to the grant money they receive and the relatively modest student loans they have.
Very good advice from Pat Campbell-be the best student you can be and you really can control, to some degree, your own future. Almost all colleges give academic grants based on your high school GPA so it really matters! We do not take any of this for granted and consider ourselves very fortunate that our kids work hard and receive grants/loans/etc. that make it possible for them to attend the private colleges of their choosing. I think they too, will someday realize that all the sacrifice and hard work on all our parts paid off. At least we hope so!

Thank you for your helpful and thoughtful feedback. We have looked at our EFC. Fortunately/ unfortunately our expected contribution is 100%. Our child, an athlete is being recruited primarily by D3 schools which can not offer athletic scholarships. Though our child's GPA is ok, and has improved, it is not at the level for merit scholarships. The SAT score was quite good and we have been told will probably result in some contribution from the schools. Essentially, it seems that we will be paying the vast majority of the sticker price. I just keep on coming back to "is it worth it?".I couldn't agree more with the comments about exceling with the academics. It is critically important.

The thing of it is, what with the grant money and scholarships offered by private schools, the tuition frequently ends up being less than a PA state school. Due to the lower state school tuition there isn't a lot of grant money and it seemed when my girls went to college, the private schools had a lot more scholarships for HS academic performance. I don't know if that has changed in the last few years or not. However, I disagree with the prior posts. An undergraduate degree is worth it's weight in gold. Don't underestimate the careers and options that simply don't exist without it. <Linda Spreeman, King of Prussia>

This is also where SAT prep programs are an investment. The PSAT/ NMSQT test puts you on the National Merit radar, and some schools automatically offer scholarships based simply on that. Now, they might be Univ of Arizona, or Oklahoma, or Alaska, but they may also be St. Joes or Temple or Pitt. Make an educated assessment of how well your student is likely to do on those tests, and if you believe they will do well, it's worth the investment that they do VERY well.

I have two young children each with a 529 plan. I make monthly contributions to the plan and also any monies they are given for birthdays, holidays ,etc. are forwarded to these plans. Tuition is skyrocketing, if you want to lower these cost we would need two things to happen. Teach are kids how money works when they are young, especially how interest is compounded. So they are educated what the real education cost are.
Want to see tuition cost drop like a rock tell the federal government to stop guaranteeing student loans. Let the institution take the risk. Institutions lobby congress to raise the lending limits congress obliges, and presto tuition just went up 3x the inflation rate.

A newer trend in NYC is combining high school and college with ibm financial backing so a student can attend high school for 6 years, graduate with an associates degree, co-op experience and a job at ibm or other tech companies.

http://online.wsj.com/article/SB10001424053111903635604576476200369585750.html

Curious what others think. Some parents are afraid of too much influence from corporations, but students need work experience besides waitressing at My Favorite Cupcake.

Half of students won't have their degree by age 24 so I think this plan addresses helping those that may not fit in with a standard 4-year college experience.

For my stepkids, we paid the first and last year at state schools, their mother paid one year and they had to pay the fourth. I think it worked out well as, even though they have student loans for that year, the amount is not unmanageable. I personally took 12 years from high school to finish my undergraduate as I worked my way through. As soon as I completed my degree, though, I was able to command an immediate 37.5% salary increase due to the increased marketability (technical field). Certainly helping is a good thing, but it's important to encourage accountability in the college attendee as well.

You realize schools set tuition prices high to make students feel they are getting a bargain with higher student aide.