In a recent article in the New York Times, Ron Lieberman addressed some important questions about financial aid submitted to him by prospective college students. In introducing his topic, however, he makes an important point: “Figuring out how to pay for college has quickly turned into one of life’s most complicated financial decisions.†He gives a few reasons for this:
- There’s uncertainty as to whether the student making the decision will be able to pay back his student loans.
- There’s uncertainty as to whether spending more on a prestigious school will lead to a future that pays more as well.
- There’s the issue of inexperience, the fact that the prospective student has never had to make a decision with such far-reaching and expensive consequences before.
- There’s a lack of good information, plus a scarcity of reliable sources to provide it.
