Jul 15, 2022
Summary:
College can be a great investment for anyone’s human capital, but
you have to do it right. Here to discuss how individuals and
families can plan for college and minimize debt is Brad Baldridge,
a certified financial planner that specifically deals with college
planning. It is a process that is different for each individual
because there are so many moving factors, so it’s important to take
into account all of the ways that one can save money ahead of time
and eliminate extra costs. Brad gives a lot of great advice that
can help young adults and families prepare for this milestone, so
be sure to tune in.
Highlights:
-It’s a twofold process—picking an are of expertise that will give
you a return on your investment, and using all of the hacks/tips
that will minimize your future debt
-College planning is not a cookie cutter process. There are a lot
of moving factors that differ for each individual
-Start planning sooner than you think you need to; there is early
stage planning and late stage planning
-Late stage happens when you’re dealing with the admissions
process, testing, etc.
-The early stage happens when people are younger and not at the end
of their high school career
-For some, Brad advises not to attend college immediately after
high school
-Once you get a serious job, it’s difficult to go back to
school
-Some people take longer to get their degree, and face more debt
later
-There are many professionals that help students figure out what
they want to eventually do, and what college major will help them
funnel into their desired career
-College is paid for by income, savings/investments, financial aid,
scholarships, and reductions/other expenses
-Becoming more efficient is half the battle, and it’s important to
be aware of the resources that are available to you
Useful Links:
Financial Survival Network
Baldridge College Solutions