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Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents
 
 
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Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents [Paperback]

Zac Bissonnette (Author), Andrew Tobias (Foreword)
4.4 out of 5 stars  See all reviews (67 customer reviews)

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Book Description

August 31, 2010
"I'm a 21 year old student at a large public university. What do I know? Maybe I'm just rationalizing the fact that I'm attending a so-so public college! You'd have to be out of your mind to take my word for anything! But what you should do is look at the data and draw your own conclusions. I will show you the results of some little-known studies that are likely to change the way you think about paying for college forever...I'll offer guidance and practical tips for ways to secure a better, more enjoyable, less stressful, and saner college experience for everyone involved.

"A large portion of the advice in this book is hugely counterintuitive, but guess what? I'm living it. I'm not some ivory tower admissions guru spewing advice about how people should make one of the most important decisions of their lives, with no stake in the outcome." (from College on a Dime)


College costs are rising at twice the rate of inflation-and much of that increase is being financed by parents looting retirement accounts and students burdening themselves with debt loads that will change the course of their financial lives.
It doesn't have to be that way. Armed with data, experience, and a stiff dose of rational analysis Zac Bissonnette explains why so much of the "wisdom" about choosing and financing college is not only wrong but dangerous. In this book, he explains:

-Why the name on your child's diploma means less for his future than you think it does.
-Why student loans are the next great consumer crisis in America-and how to avoid it.
-Why the myth of "fit" won't lead your child to a superior college experience.
-Why scholarships and financial aid won't alleviate spiraling college costs-and what will.

With a fresh approach to selecting, maximizing, and paying for college, Bissonnette gives parents practical, and often surprising, advice on how to help their kids get a champagne education on a beer budget.

The do's and don'ts of college:

Do recognize that the amount your kids' friends' parents will be contributing to their educational expenses is likely far higher than it should be.

Don't let someone tell you that student loans are not that big of a deal. Yes, they're normal, but so is being broke.

Don't fall in love with a college or let your child fall in love with one. Every college is a combination of great professors and lousy ones, cool students and not-so-cool ones.

Most of all, do look at college as a rational investment, not some silly coming of age ritual where money is no object.


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Editorial Reviews

From Booklist

In keeping with the new frugality, this college guide, written by a senior attending the University of Massachusetts, offers practical advice on how to pay for college without taking out loans. Decidedly old school in approach, Bissonnette advocates that students should bear the brunt of paying for their educations by working while in college and during breaks. He also suggests that attending community college for two years before transferring to a four-year college or university would go a long way toward cutting costs. Systematically and amusingly debunking the selection criteria used by U.S. News and World Report and others to rank elite colleges, Bissonnette is a strong advocate of attending reasonably priced state schools. He makes good points about how debt from student loans often prevents recent grads from starting families or buying homes. He also presents convincing research that elite graduate programs and selective employers accept plenty of people who have attended nonelite schools. Although the strictly dollars-and-cents approach to higher education may not sit well with some parents, this is a timely guide to a decision that has important financial ramifications. --Joanne Wilkinson

Review

"If the National Association for College Admissions Counseling had anticipated the dire consequences of one of the smartest teenagers in America encountering the ill-examined assumptions of their profession, they might have found some way to buy him off, maybe a full ride scholarship to Harvard. Too late. Bissonnette is 21 now, a senior at the University of Massachusetts. He has written the best and most troubling book ever about the college admissions process."
-Jay Mathews, The Washington Post

"Let Zac Bissonnette help you plan for college-where to go, what to study, and how to pay for it-and you will finish rich"
-David Bach #1 New York Times bestselling author of The Automatic Millionaire and Start Late, Finish Rich

"In the new economy, your college choice is critical. Zac Bissonnette''s Debt- Free U is the one book you need to make this life-changing decision-- thoroughly researched, smart, and funny. Grade: A+."
-Ali Rogers, CBS Moneywatch. Author, Diary of a Real Estate Rookie

"With Bissonnette, college-bound students and their parents finally have an unbiased source to help make an educated decision about choosing and affording college. Not to mention, his advice can help you pocket tens if not hundreds of thousands of dollars. Want to make a smart investment in this economy? Buy Debt-Free U."
-Farnoosh Torabi, financial expert and author of Psych Yourself Rich


Product Details

  • Reading level: Ages 18 and up
  • Paperback: 304 pages
  • Publisher: Portfolio Trade; 1 edition (August 31, 2010)
  • Language: English
  • ISBN-10: 1591842980
  • ISBN-13: 978-1591842989
  • Product Dimensions: 8.5 x 6.6 x 0.8 inches
  • Shipping Weight: 9.6 ounces (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (67 customer reviews)
  • Amazon Best Sellers Rank: #5,214 in Books (See Top 100 in Books)

More About the Author

Zac Bissonnette is a personal finance writer. His first book, Debt-Free U, landed him on The Today Show, Sean Hannity, The Dave Ramsey Show, The 700 Club, and the Fox News Channel. The Washington Post called Debt-Free U "the best and most troubling book ever about the college admissions process" and it hit #20 on Amazon.com's bestseller list the day it was released. It has been featured by The BBC, The New York Times, The Huffington Post, Bloomberg, Christian Science Monitor, USA Today, The Suze Orman Show, The Boston Globe, ABC News, and many others.

 

Customer Reviews

67 Reviews
5 star:
 (46)
4 star:
 (13)
3 star:
 (1)
2 star:
 (3)
1 star:
 (4)
 
 
 
 
 
Average Customer Review
4.4 out of 5 stars (67 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

74 of 78 people found the following review helpful:
5.0 out of 5 stars Changing your worldview about financing college education, September 18, 2010
This review is from: Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents (Paperback)
This is an excellent book. I cannot recommend enough that all parents with pre-college children read this book and use the valuable information provided to take ownership of the college decision process together as a family by considering what this book has to say.

I am a CPA and a financial planner in the Boston, MA area. I see exactly what Zac describes with many families whose financial plans are dominated by education financing at the expense of other goals. I'm blown away by a 22-year old college student being able to accurately identify all of these issues, cut through all the BS spewed by the higher education and college financing industries, and support his assertions and analysis with compelling facts, data and research. I would urge anyone reading this book to not hold Zac's age against his analysis. His analysis is spot-on accurate. In fact, his age is useful for lending credibility to the anecdotes he does mention in the book about campus life and his experiences. He knows what he's talking about because he's living it.

For years, I've struggled with the question of whether you need to attend an expensive college to get a quality college education. It didn't seem right to me, but I didn't have the information to assess this one way or the other. As Zac clearly shows, there are huge industries with tons of money at stake to make people believe that an expensive college is a must for your child's education. As Louis Brandeis said, "sunshine is the best disinfectant". This is one book that is the sunshine that exposes these industries for what they are.

Being in Massachusetts, I would feel very comfortable guiding my children to a Massachusetts public college armed with the information that Zac provides. I would know that I am giving my child every opportunity to have a terrific college experience and a wonderful opportunity for a successful and fulfilling life. UMass should be extremely proud of having Zac as a recent graduate.
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51 of 56 people found the following review helpful:
5.0 out of 5 stars Debt-Free U: How I paid for an outstanding college education without Loans scholarships, or mooching off my parents, September 3, 2010
Amazon Verified Purchase(What's this?)
This review is from: Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents (Paperback)
Wow, I couldn't put the book down, with every page I could see all the ways to save money. This book is worth its weight in gold. Words cannot describe what this book has down for me, I really feel I have an insider in college and it has greatly reduced my stress of having my first child go off to college next year. This book contains more than finacial tips, it covers every aspect of college, from course tips to professor information, I can't say enough, you definately won't be dissapointed.
It was a fun read and will share with other college bound students. I have five teens and if I can do this anybody can. take care enjoy the journey. Debbie
PS I wrote this at 6a getting five kids off to school please excuse the typos.
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39 of 43 people found the following review helpful:
5.0 out of 5 stars Excellent, September 2, 2010
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This review is from: Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents (Paperback)
Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, orMooching off My Parents

The author reveals many ways to get a top flight education without getting yourself and your parents needlessly in debt. He backs up his assertions with hard facts, data, and research. For over-priced universities, it is an "Emperor has no clothes" moment. Highly recommended.
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