College - with costs going up, how do families and students cope?

I was sent a great article today by Noah Bernstein, Op-Ed Contributor to the New York Times on the Opinion Pages.

Costs are going up!

Here is that link: The Hidden Costs of Higher Ed. I am sure that a lot of nontraditional students can personally relate to this article.

The story explains that since schools have started accepting credit card payments, this tacks on additional fees to the families or people that can least afford it.

Bernstein goes to explain that the original purpose of spreading out payments was meant to help families. Since people who have less money must sometimes use their credit cards to pay, this adds up.

People who have the money to pay ahead, and pay using checks (usually wealthier people) have the advantage of locking in lower rates and avoiding the service charges that go with credit cards. The for-profit credit card companies have to make a profit, he goes on, and make that profit from people going to college and their families.

And, of course, costs keep going up. Having these policies in place, once thought to be helpful to schools who invested in the stock market, makes it harder for some people to pay for school.

This is a great article, and worth a look.

Do you pay your college costs with a credit card sometimes? Do you think college costs will continue to go up?

Here is that link again:

The Hidden Costs of Higher Ed by Noah Bernstein.




Write your thoughts in the comment section below. Later!

And here are some more nontraditional student links: The Nontrad site and blog Join Nontrads on Facebook Nontrads on Yahoo Nontrads on Twitter 

The neat clipart at the top of this posting is from the Microsoft Clip Art Pages.

6 comments:

  1. We have used a credit card often over the past 5 years to pay for the costs. Mostly during the times when I get the email that says, "You are about to be dropped for non-payment. Pay us now or die!" We also pay for books with credit cards sometimes. Often, I can pay with my hubbies checking account but not VERY often! Mainly, I just get loans and pray that I DO get that job to pay it all off someday before I die!

    ReplyDelete
  2. I can certainly relate. When bills are due, sometimes you just HAVE to use a credit card.

    I am paying on my student loan still... and will for some time. I don't regret going back to school at all, but I DO understand that it has gotten very expensive to do that.

    Thanks for your comments, Nicki!

    ReplyDelete
  3. Robert Martin2:22 AM

    Good post you have shared here, interesting one. But i heard now a days some universities and colleges offering useful scholarship offer for their academic students i think this option really helpful for reducing their academic cost but i don't know more about the scholarships. Do you know any information about scholarships for international high school students? If you know any helpful information, please let me know.

    ReplyDelete
  4. I am definitely leveraging my livelihood (and that of my family) to be in nursing school. We have to do some of those big financial "no-no's" that the experts warn against (don't take out loans, don't pay with credit, etc), but there is just not a better option, other than quitting school and getting back on the minimum pay treadmill and hope that I can save the money for school someday. I reason that the ends will justify the means.

    ReplyDelete
  5. You are going into a good field, NurseyPants (love that name!) Keep us posted.

    ReplyDelete
  6. Robert: I do know about the most famous international student scholarship. It is the Fulbright Scholarship here: http://fulbright.state.gov/. I hope this helps.

    ReplyDelete

Please add your comment. I would love that! :-)