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College is expensive. For many families it is one of the most expensive investments they will make. With student debt crossing over one trillion dollars, every parent and potential college student is concerned about the cost of college. This presentation is a part a workshop series based on the book, "College Without Ramen Noodles, A Guide to Affording College. In additional to the presentation a leader's guide is available. Should you wish to set-up a workshop contact me for details.
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Saunders Learning Group, Newton, KS
Affording College Now Module Two: Cost of College
From the Author of “College Without Ramen Noodles”
Saunders Learning Group, Newton, KS
2. COST OF COLLEGE 1. Why College
3. Saving and Investing for College 4. Financial Aid 5. Making College Affordable
Saunders Learning Group, Newton, KS
College for Our Kids Saving to send our kids to college is often a top priority for most families.
Saunders Learning Group, Newton, KS
Will You Be Able to Afford College?
Possible reasons why: • Overestimating financial aid • Investing too conservatively • Using taxable or retirement accounts • Not getting help from others
• Underestimating college costs • Starting too late • Not having a plan
Common mistakes can keep parents from achieving goals.
Saunders Learning Group, Newton, KS
Future Four-Year College Costs Projected four year college education cost
Based on child’s current age
After retirement, savings the cost of college is one of a family’s biggest expenses
Saunders Learning Group, Newton, KS
College Continues to be Expense
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Student debt is expected to reach $1 Trillion in 2013
Saunders Learning Group, Newton, KS
But What Does College Really Cost? On average, families paid 31% below sticker price at public colleges and 43% less at private colleges in 2013014.
Saunders Learning Group, Newton, KS
Tuition Compared to Other Expenses Cumulate % price changes since 1983
Saunders Learning Group, Newton, KS
Making College More Affordable To better afford college, many families choose less expensive schools or adjust there lifestyles. 67% of families in 2012 ruled out some college based on cost, up from 56% on 2009.
Saunders Learning Group, Newton, KS
Financial Impact of Student Debt • Student loan debt more than quadrupled to $1.1 Trillion in the last ten years. • The average student borrower owes over $29,000 in loans. • Student loan defaults are at a 20-year high, affecting over 7 million borrowers,
who it will take years to dig out of the credit mess left behind.
Saunders Learning Group, Newton, KS
Debt by type of Consumer Loan In 2010, student loan debt surpassed credit card debt for the first time in history.
Saunders Learning Group, Newton, KS
Yes, You Can Go To College
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Saunders Learning Group, Newton, KS
Summary of Book
Book summary: College Without Ramen Noodles; A Guide to Affording College. This highly readable guide provides college students and their parents with dozens of ways to make college a reality. In fact, use enough of these tips, and you may keep college debt at zero. Author Floyd Saunders has spent the last 20 years helping his five kids get post-secondary education using many of the options highlighted in this book. Mr. Saunders even tells you some good reasons why you might be better off with an alternative to a college degree. Regardless of your circumstances, this book offers valuable information as you consider going to college
College Without Ramen Noodles A simple plan to Affording College By Floyd Saunders Available for all eBook readers
ISBN: 13: 978-0-9824019-2-7
Saunders Learning Group, Newton, KS
Author Contact email: [email protected]
Blog: www/floydsaunders.com
Twitter @floydsaunders
Sideshare: http://www.slideshare.net/FloydSaunders
About the Author • Floyd Saunders is a writer with an extensive
background in the financial services industry, having worked across the industry in retail, commercial, investment banking, insurance, tax preparation and financial planning.
• He has taught personal financial courses for Baker University and has taught extensively for the American Institute of Banking. He has also taught at St. Mary’s College, Lake Tahoe Community College and Mt. Diablo College.
• He is the author of: Figuring Out Wall Street, College Without Ramen Noodles, Banking on Mutual Funds and Annuities, Introduction to Securities Markets, Investing in Securities and Family Financial Freedom.
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