Customer Reviews

Paying for College Without Going Broke, 2002 Edition (Princeton Review: Paying for College Without Going Broke)

5 star:		(6)
4 star:		(2)
3 star:		(2)
2 star:		(0)
1 star:		(1)

 

 

Widely quoted on the Web is the assertion from this book that "...almost every family now qualifies for some form of assistance. Many parents don't believe that a family that makes $75,000+ a year, owns its home, and holds substantial assets could receive financial aid. These days, that family--provided it is presented in the right light--almost certainly does."

Financial advice columnist Kenneth Hooker recently wrote the same thing:
"You can take some comfort in the fact that buying a college education has become a good deal like buying a new car -- virtually nobody pays the sticker price. There are a wide variety of financial aid programs available, both through the government and through the schools themselves, and the real costs are likely to be dramatically lower than the figures supplied ...."

As the completely middle-class, full-tuition-paying parent of a child at an Ivy League college, I feel like a total chump when I read this stuff.

Well, maybe I have missed something in all of my researches and walk-throughs with family contribution calculators, but I'm not sure.

Since there has been such a marked reduction, even disappearance of merit scholarships, and almost everything now is needs-based, parents should know that if your child applies to a private school that includes home equity in its EFC (as many now do, maybe most), and
(a) if your debt (mortgage and home loans) is not huge, and/or
(b) if you make a decent salary, and/or
(c) if you have saved and invested over the years and now have a moderate portfolio (however much it's down from 1-2 years ago),

then you almost certainly are NOT going to qualify for any financial aid whatsoever from any number of competitive private schools. Loans, sure. Aid, most likely no.

So far as I can determine, you are expected to take out a home-equity loan (if your house debt is low enough) and pay the full fare. And/or sell some of those "substantial assets."

I am not saying this is wrong, or even unfair for those of us who are comfortably middle-class. But unless I have made some major omissions, similar parents should not be misled by the broad promises and assertions by these college-financing "experts."

This book should be entitled "Paying For Your <i>Child's</i> College Without Going Broke". It contains almost no information for one who is trying to pay their own way through college. In fact the information in this book is so insular, I'm led to believe that unless you're a clone copy of the author, you won't find any relevant information in this book whatsoever. This is a throwaway piece of tripe intended to capitalize on peoples' apprehension of college costs. There is nothing here you won't find elsewhere on the net.

This book is written for parents who are about to send their child to college. It's not written for adult students, per se, although it states(on one or two lines)that the principles are about the same. However, I don't believe most adult students have their own businesses, own houses and/or property, and can itemize deductions on their income taxes, to lower the AGI(Adjusted Gross Income), as the book describes. The book is good for parents who plan to send their kids to school, but for adult students, it gets very confusing. It's very vague as to whether the same principles that apply to parents, apply to adult students.

My job is helping people find ways to send their kid's to college without bankrupting themselves. This book by far is the best guide to the financial aid process available.

Don't let the anecdotal experiences of the guy you work with disuade you, there is a lot of help out there and this book will give a leg up on finding it.

As I tell my clients, the more you know about the rules of the college funding game, the more money you will save. So get this book and save some money.

Now if they only wrote it with a good index.

This book was an immense source of help and information to thestudents at the high school I work at, as well as to their parents.It goes along way to de-mystifying this process. I found information here that I have not seen in any of the other numerous resources for financial aid. I would particularly suggest it to parents.

I spent a number of years as a college counselor. This book is the best book for anyone serious about getting the most aid possible. ("Don't Miss Out" is simpler, also excellent, but not quite as packed with good ideas). I was motivated to write this when I noticed that the other reviewer had given the book 4 stars. In this category, I cannot imagine a book more worthy of 5.

This book is a necessity for any college-bound student who doesn't have the cash on hand to pay for four years of school in a world-class institution. Paying close attention to the many tips and pointers and following them will put any and every college student way ahead of the financial security game.

This book is indespensable. Covers all aspects of planning and preparation in addition to providing answers to those of us who wait until the last minute...

If you're dreading filling out those complicated financial aid forms, this is a great book to have by your side. It includes some 50 pages of line-by-line guidance on completing the two most widely used forms.

15 years ago, I graduated from an elite private university by working full-time as a student and getting as much financial aid as possible every step along the way. Since then, I have helped several younger siblings to do the same, and I have prepared to send my own kids to college.

Through it all, I have read many books -- good and bad -- that came out regarding how and where to find support to attend college, and I can say with total confidence that this is BY FAR the best book that ever has been written on the topic.

The content speaks for itself: deeply researched and simulatenously very practical, with dozens of very important tips, available nowhere else, for maximizing the amount of aid that one is offered. And the author's credentials are unrivaled, having held a major post in the Department of Education which oversees most federal student assistance. President Clinton felt comfortable enough with the book to provide a forward, not just a blurb.

Is this the easiest book about financial aid to read? Well, it's not at all hard to read, but it isn't simplistic; it doesn't pretend that there are just 1 or 2 things that one must do to maximize one's aid awards. But the fact is that applying for and doling out financial aid is an exceedingly complicated enterprise, and by shining a light on this complexity and providing clear paths through the process, this book does applicants for student assistance a tremendous favor.

Like the reviewer before me, I was motivated to write this analysis after seeing that someone earlier had ranked the book with only 4 stars. In my opinion, it should get 6 (unfortunately, 5 is the maximum)!

I very strongly recommend this book to any student or parent who needs to get the maximum student aid award possible.