Smart About College
The cost of college has become a crisis. Students (and often their families) spend hundreds of thousands of dollars in pursuit of a diploma. Data from the Federal Reserve for the third quarter of 2020 shows that for the first time total U.S. student debt has surpassed $1.7 trillion — a 102% increase from a decade earlier — which makes selecting a college one of the biggest and most complex financial decisions families make. Ron Lieber, award-winning Your Money columnist for The New York Times, recently released "The Price You Pay for College," a book intended to help families navigate a confusing and often overwhelming selection process. Easily one of the most important sections of Lieber's college road map is devoted to what he calls "value," or aspects of the college experience that may be important to a student and their future success. Here's what to look for.