Human nature is such that when something doesn’t directly affect you, it’s easy to not pay attention. Such has been the case for this dad regarding the escalating costs of college, the incredible competition to get in, and all the bizarre and increasingly complex options to try and pay for it all. Maybe it’s a scam on us parents? Maybe it’s another bubble about to burst as some say about the over 1 trillion in student debt? All I know is we are paying a ridiculous fortune to send our first-born to a private college in Boston.
I suppose the title of this column got your attention. Of course I don’t mean it in any literal sense but I’ve begun a mantra/rant lately that includes this notion. My older son just got accepted to an expensive private college, The Berklee College of Music. For a number of reasons, he/we do not qualify for any financial aid. Upon consulting with my friend Jodi Okun of College Financial Aid Advisors, who helps families with these issues for a living, I learned the reasons we did not qualify for financial aid.