Published May 27, 2021
By KEA YENGST
Written by New York Times personal finance columnist Ron Lieber, “The Price You Pay For College: An Entirely New Road Map for the Biggest Financial Decision Your Family Will Ever Make” is the quintessential guidebook to all things college finances, exploring how families of all income backgrounds can drastically reduce costs for one of the biggest investments that they will make in their lifetime.
“The Price You Pay For College” breaks down the world of student loans and higher education tuition down to a science by reviewing every minute detail of the process. This is done through in-depth research and interviews with financial experts, such as advisor Deborah Fox and University of Wisconsin, Oshkosh chemistry professors Jennifer Mihalick and Jonathan Gutow.
One great example of this research is Chapter 20, titled “How the College of Wooster Puts It All Together,” which reviews a prime example of a worthy undergraduate investment through the College of Wooster, an institution that isn’t anywhere as prestigious or well-known as those within the Ivy League. This chapter in particular dives into Wooster’s highly esteemed independent study program, federal aid opportunities and life after the undergraduate experience, all key considerations when choosing a college that will be the right fit for a prospective student.
Lieber dives into every aspect finding a correct college fit and a comfortable price for a prospective student’s family, which provides dimension and character to a topic that some may consider boring or uninteresting.
What is most surprising about Lieber’s work is his evaluation of various student services that colleges offer, such as campus dining, career services and other elements that prospective college freshmen should take into consideration. There are discussions about on-campus mental health resources, considering taking a gap year or even reducing the cost of attendance by 50% through local community college offerings.
In addition to pre-college plans, Chapter 19, titled “Better Salaries When You Finish- if You Finish,” explores life after college through informative statistics such as class retention, the percentage of students who stay at a given school over the entirety of their undergraduate education.
“The Price You Pay For College: An Entirely New Road Map for the Biggest Financial Decision Your Family Will Ever Make” is the ultimate personal finance handbook for the modern-day family with college-bound members. It is an essential investment for those who are involved in the college payment process, and can be found on Amazon or anywhere else books are sold for $15.