Many parents and college-bound students face a costly college dilemma: Is that dream school worth the money or will a cheaper college lead to equal success?
The question is about higher education warranties.
The answer should be easy, considering this is not the first tough consumer decision that families have had to make. Parents put on their consumer hats when buying other large ticket items like a home, car, or vacation. They weigh the pros and cons; they review the warranties and insurance policies.
When it comes to higher education, the floodgates of emotion open. Families consider going into huge debt and risk future financial security for a perceived sole chance for student success.
Is a college acceptance letter like a winning lottery ticket? All students have to do is cash in, attend college and be set for life?
For families unable to pay the 4-6 year college bill out-of-pocket without substantial borrowing, parent retirement and student future lifestyles may be in jeopardy. The bottom line is overwhelming debt doesn’t mix well with success.
What is the college warranty?