Community colleges tend to be a GREAT bargain for students. (Do you wonder what gives me the credential to say that? Click here.) But what about 4-year state universities? Are they smart choices for students who want to keep college costs low? At first glance the 4-year state university’s sticker price looks appealing enough. But is it really a good deal?
Here’s the big question to ask:
What is this state university’s four-year graduation rate?
If it’s nearly impossible to get through this college in four years, that’s deeply concerning. Why? Because financial aid doesn’t stretch to cover years five and six. Too often, years five and six get paid for by expensive private loans and credit card debt. Plus, of course, going to college for six years is likely to cost a student two years of full time income.
Yikes. Not a bargain at all.
Here’s what you can do to protect yourself.