We hear these stories every day. Mom, Dad, and high school junior visit a college. Junior is thrilled with the school–loves everything about it. Mom and Dad discover too late what it will cost them.
In the world of college finances, terms get thrown around a lot, and those of us who work with them every day often take for granted everyone will know what they mean. However, as you may well know, parents who are just getting their feet wet in the college jargon could use a little help. Knowing the lingo is one of your first steps in being an informed customer…College Financial Terminology 101!
Did you know no actual mythological stories exist about the unicorn? “The truth is, unlike almost every single other mythical creature, the unicorn does not appear anywhere in any culture’s actual mythology.”¹ Was it possible this creature actually existed? What the heck does this have to do with college?!
We’re searching for the Unicorn University—not the myth—the one perfect for you.
We all know universities come in different flavors – state schools/ivy leagues, privates/publics, colleges/universities, etc. And we know the different types have different admission standards your student needs to meet in order to get into them. We also are VERY aware of the different price tags for each. A four year in state university currently costs around $19,000 per year and a four year private college around $42,000 according to “Trends in College Pricing 2014” published by the College Board.
What you might not be fully aware of though is schools do NOT award financial aid in the same way from school to school.
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Capstone Wealth Partners is a fee-only independent Registered Investment Advisor in Columbus, Ohio. We are financial planners for college-bound families.
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