As your high school student starts the college application process this summer and fall, ensure your decisions make good financial sense. A report by ideas42 weighs in on how families are shopping for college.
- Students and parents overestimate college costs by as much as 200%.
- Half of perspective students overestimate loan payments by 50%.
- Students who over-predict net costs of college, or report not knowing net costs at all, are significantly less likely to apply to selective colleges.
- 61% of students who didn’t file the free application for federal student aid (FAFSA) form thought they were ineligible for aid, yet one third of those who didn’t file would have qualified for Pell grants.
Although families’ college-shopping strategies seem to make financial sense, their methods can lead to more debt and less academic success. The team at Busey will ensure you are track—providing the support and answers for your student to succeed. To get started, visit Busey at 312 E. Main Street in Mahomet or call today at 1.800.67 | Busey.
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