It’s that time of year again… It’s time for 17-year-olds to make one of the biggest financial decisions of their lives. It’s time for these kids to decide what they are going to do for the rest of their lives. It’s time for seniors in high school to choose a college.

My daughter had to make these decisions last year. She began her freshman year of college at Northern Kentucky University last month. I’m going to tell you some of the things you are going to be told your child must do and then I’m going to tell you the truth based on our experience.

 

 

 

 

Things Other People, Including High School Guidance Counselors, are Going to Tell You and Your Children:

You should apply to five to seven schools to make sure you get accepted to one.
You should apply to schools you know you can’t afford.
There are plenty of scholarships out there and you’ll be sure to find one.
You can wait until after you graduate to make a final decision on which college you will attend.
Students with high GPAs and ACT scores will get a full ride.
You have to live on campus to get the full college experience.
You will find some way to pay for college, even if it’s loans.
College is really the only way to make something of yourself.
Books will cost at least $1,000 a semester.
Don’t fill out the FAFSA (Free Application for Federal Student Aid) if you know your child won’t qualify for free grants.
Your EFC (Expected Family Contribution) is what you should be able to pay toward your child’s college.
You can’t receive new scholarships after you started college.

 

The Truth Based on Our Experience:

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