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The TRUE Cost Of College...

Shane Hummus2021-12-17
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💫 Short Summary

The cost of college extends beyond tuition, including housing, food, technology, transportation, and textbooks. Total expenses can range from $35,000 to $120,000 annually, leading to significant student debt. Nearly 50% of students take longer than four years to graduate, increasing costs to over $210,000 for a six-year degree. Planning ahead and utilizing resources can help students graduate early and save money. A college 101 course is recommended for guidance on efficient degree completion. Comments, likes, and subscriptions are encouraged for further updates and discounts on the course.

✨ Highlights
📊 Transcript
The cost of college beyond tuition includes expenses like rent, additional fees, interest, and opportunity costs.
Tuition ranges from $9,500 to $37,000 per year, with total costs averaging around $35,000.
Housing is a major expense, costing $7,200 to $36,000 annually, with strategies to reduce costs including getting roommates or becoming a resident assistant.
Food expenses are also emphasized, with college students often overspending.
The choices students make regarding housing, food, and other expenses significantly impact the overall cost of attending college.
Financial challenges faced by college students.
College students spend a lot on food due to increased freedom and lack of structure.
Using a crockpot and pre-making meals for the week can help cut costs.
Technology expenses for students are estimated to be around $1000 per year.
Transportation costs, such as owning a car, can be a significant expense, with estimates around $8600 per year.
The high cost of college education in the US.
Textbooks alone cost an average of $1,240 per year, with total expenses ranging from $80,000 to $120,000 annually.
Students typically graduate with $37,000 to $40,000 in debt, taking an average of 20 years to pay it off.
The total cost of college in the US is estimated at $35,000 per year, causing many students to take longer than four years to graduate.
Major changes and inefficient college systems contribute to the extended graduation timeline for students.
The high cost of college education and the potential financial impact of prolonged graduation timelines.
Nearly 50% of students take longer than four years to graduate, leading to significant additional costs.
The estimated cost of college is $35,000 per student per year, accumulating to over $210,000 for a six-year degree.
Opportunity cost, including potential earnings if not in college, further inflates the true cost of education.
Estimates suggest that the real cost of college could exceed $400,000 and is rising annually.
Tips on graduating with a four-year degree in two to three years.
Importance of planning and knowing your goals.
Detailed guidance available on the channel.
College 101 course helps save time, effort, and money.
Positive feedback on the course and limited-time discount available through a coupon code.