College Disrupted: Students Face High Costs & Pandemic Impact

Paying for college can mean borrowing money or risking savings.

This week, Craig Siminski, of CMS Retirement Income Planning, shares an article focusing on financial aid and the importance of informed academic choices:

Even in normal times, it can be challenging for families to cover college expenses without borrowing money and/or risking their own retirement security.

For the 2019–2020 academic year, the cost of in-state tuition, fees, room, and board at a four-year public college averaged $21,950, and the total for a private college approached $50,000.

Sadly, the college world is not immune from the health fears and financial pain inflicted by the coronavirus pandemic.

More students might choose schools that are less expensive and/or closer to home, take a year off, or forgo college altogether. The American Council on Education predicted a 15% decline in college enrollment nationwide for the next …

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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 22 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.

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