"It’s a myth that you will [only] have a beneficial growth going away for college,” Marcia Boyd, financial advisor and director of Governor State’s admissions office, said during her interview. She believes you can obtain growth wherever you go because you will be exposed to different things no matter what. Both in-state and out-of-state colleges can put a dent in your pockets. You have to make a decision: stay home or experience college life away from home.
An average of only 21% of students attend college out of state, while an average of 79% of students attend college in-state.
According to the Health Resource Center at the National Youth Transitioning Center, “On average, it cost[s] $8,990 more for students to attend a college or university in a state where they are not a resident.” Imagine paying that kind of money for the next four years that’s about $35,960!
Although that is a huge difference in tuition, Luke Chitwood, the program manager of Global Leaders Program, suggests, “Seniors should have a mixture of the types of colleges that they apply to because every family has a different situation.” He also believes going away for school can be impactful, and the new experience of independence helps students grow as young adults. Out-of-state tuition can be affordable depending on the financial package you receive. Believe me, there are colleges willing to give you plenty of money. For example, “Lloyd Chen, 17, received full scholarships from Yale, Harvard, MIT, Princeton, Stanford, UCLA, UC Berkeley, UC San Diego, and UC Davis.” This is not a typical situation, but it could happen to you if you’re talented, have the right G.P.A. and test scores. Applying to a variety of schools and then carefully comparing the financial aid packages you are offered can help you make the best choice for you!
For more information on how to manage your money in college visit www.CollegeBudgetBuilder.org!
So, don’t shut down when you see a huge price tag on your dream school. Whether you choose to stay home or not, there is a way to pay for college. If you’re receiving acceptance letters right now don’t make a hasty decision. High school seniors have until National Decision Day, May 1st of every year, to decide where they would like to attend and what is the best decision personally and financially.