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Category: College

Free College Workshop

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Learn How to Get More Grants & Scholarships Join us for a FREE college workshop at the Eledersburg Library on Tuesday, October 10th, 2023 at 6:30PM. Answer important questions about navigating FAFSA, applying for scholarships and many other important concerns you and your college-bound sons and daughters may have. Learn how to avoid the costly […]

When to Start Saving for College

When to Start Saving for College

College education is a significant investment in your child’s future, and the earlier you start saving, the better prepared you’ll be to handle the expenses that come with it. Take a look at the key times in life when you should consider starting to save for college and the importance of early planning. At Birth […]

Picking the Best College versus Picking the Right College

Picking the Best College versus Picking the Right College

Choosing the right college is a pivotal decision in one’s life. It marks the beginning of an exciting and transformative journey, shaping both personal and professional growth. However, the process of selecting a college can be daunting, especially with the abundance of options available today. Many students and parents often find themselves caught between the […]

Private College versus Public College Considerations

Private College versus Public College Considerations ​​When it comes to pursuing higher education, making sound financial decisions is crucial. Choosing between private and public colleges can significantly impact your financial future. Here are some financial planning considerations involved in deciding between a private college and a public college. IMAGE: https://www.shutterstock.com/image-photo/beautiful-view-clemson-university-historic-building-1923993947 Tuition and Cost Private colleges often come with higher tuition fees compared to public colleges. It's essential to consider your financial resources and the potential burden of student loan debt. Public colleges, especially for in-state residents, can offer more affordable tuition rates due to government subsidies. By carefully evaluating the cost of attendance, available financial aid, and potential scholarship opportunities, you can make an informed decision that aligns with your long-term financial goals. Financial Aid and Scholarships Both private and public colleges offer financial aid programs and scholarships. However, it's crucial to research and compare the availability and generosity of these programs at each institution. Private colleges may have larger endowments and, as a result, more substantial financial aid packages. Public colleges may offer merit-based scholarships or need-based grants. Understanding the financial aid options and their potential impact on your financial situation is vital for making the most financially advisable choice. Return on Investment Consider the potential return on investment (ROI) of your college education. While the cost of private colleges may be higher, they often provide specialized programs, smaller class sizes, and extensive alumni networks that can contribute to higher starting salaries and better career opportunities. Public colleges, particularly those with strong programs and reputations, can also offer excellent ROI. Research the earning potential of graduates from each institution and the job placement rates in your field of interest to make an informed decision regarding your financial future. Debt Management Student loan debt can be a significant financial burden after graduation. Private colleges often result in higher levels of student loan debt due to their higher tuition fees. Public colleges, particularly for in-state residents, can be more affordable and result in lower debt levels. Carefully consider the potential monthly loan payments and your ability to manage them in relation to your expected income post-graduation. Explore repayment options, loan forgiveness programs, and the potential for internships or part-time jobs to offset educational expenses. Future Financial Goals Think about your long-term financial goals and how attending a private or public college aligns with them. Consider the career opportunities and earning potential associated with each choice. Will attending a private college significantly impact your ability to save for a home, start a business, or pursue advanced degrees? Assess the potential impact on your financial goals and aspirations to make a decision that aligns with your overall financial plan. Start Planning with Summit Financial When considering private college versus public college from a financial planning standpoint, it's essential to assess the potential costs, financial aid options, return on investment, debt management, and alignment with your long-term financial goals. Summit Financial is here to help families plan for college, whichever route they choose. Contact us now to learn more about how our college planning services can help you.

​​When it comes to pursuing higher education, making sound financial decisions is crucial. Choosing between private and public colleges can significantly impact your financial future. Here are some financial planning considerations involved in deciding between a private college and a public college. Tuition and Cost Private colleges often come with higher tuition fees compared to […]

Why College Costs So Darned Much

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In recent years, the rising cost of college education has become a topic of concern for students, parents, as well as policymakers. With tuition fees skyrocketing and student loan debt reaching record levels, it’s no wonder people are questioning why college costs so darned much. While the reasons behind the high price tag may seem […]

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Carroll County:  Finksburg (21048), Hampstead (21074), Keymar (21757), Lineboro (21088), Manchester (21102), Marriottsville (21104), New Windsor (21776), Sykesville (21784), Taneytown (21787), Union Bridge (21791), Westminster (21157, 21158), and more.

Howard County: Annapolis Junction (20701), Clarksville (21029), Columbia (21029, 21044, 21045, 21046), Cooksville (21723), Dayton (21036), Elkridge (21075), Ellicott City (21041, 21042, 21043), Fulton (20759), Glenelg (21737), Glenwood (21738), Hanover (21076), Highland (20777), Jessup (20794), Laurel (20723), Lisbon (21765), Savage (21765), Simpsonville (21150), West Friendship (21794), Woodbine (21797), Woodstock (21163), and more.

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