The High Cost of College
This is the term used to describe the total cost of attending college, including tuition, fees, room, board, and other expenses.
What is "the sticker price" of college?
This form of financial aid does not need to be repaid and can come from federal, state, or institutional sources.
What is a grant?
Lieber argues that families need to assess this aspect to determine if the high price of college is worth it.
What is the Return of Investment? (ROI)
Lieber explains that this group of people often misses out on scholarships because they don’t think they’re eligible.
Who are middle-class families?
This method of applying to colleges is sometimes seen as a way to gain access to top-tier universities, but it can be costly for families.
What is early decision?
According to Lieber, this factor is the biggest variable in how much you will ultimately pay for college.
What is financial aid?
Lieber suggests that this method of saving for college is sometimes less effective because it is not flexible with changing costs.
In the book, Lieber discusses the gap between these two types of colleges, often referred to as “the Ivy League and the rest.”
What are elite colleges vs. non-elite colleges?
This is the term for the amount of financial aid a student is offered, based on the difference between the cost of attendance and the family's ability to pay.
What is need-based financial aid?
Lieber emphasizes that understanding this figure can help families make more informed decisions about where to apply to college.
What is net price?
Lieber compares the price of this type of institution to the cost of a luxury car.
What is an elite private university?
According to Lieber, parents should consider this option carefully, as it might affect their ability to retire comfortably.
What is borrowing for college through parent loans?
Lieber describes this as a critical question parents and students should ask about the value of a degree from a particular institution.
What is “What can you expect to earn with a degree from this school?”
This strategy, according to Lieber, is often the best way to find the maximum amount of financial aid and scholarships for which a student may qualify.
What is applying to multiple colleges?
Lieber suggests this type of information should be easily accessible for families when researching colleges to understand all potential costs.
What is the cost of attendance?