The hugely popular New York Times “Your Money” columnist and author of the bestselling The Opposite of Spoiled offers a deeply reported and emotionally honest approach to the biggest financial decision families will ever make: what to pay for college.
Sending a teenager to a flagship state university for four years of on-campus living costs more than $100,000 in many parts of the United States. Meanwhile, many families of freshmen attending selective private colleges will spend triple—over $300,000. With the same passion, smarts, and humor that infuse his personal finance column, Ron Lieber offers a much-needed roadmap to help families navigate this difficult and often confusing journey.
Lieber begins by explaining who pays what and why and how the financial aid system got so complicated. He also pulls the curtain back on merit aid, an entirely new form of discounting that most colleges now use to compete with peers.
While price is essential, value is paramount. So what is worth paying extra for, and how do you know when it exists in abundance at any particular school? Is a small college better than a big one? Who actually does the teaching? Given that every college claims to have reinvented its career center, who should we actually believe? He asks the tough questions of college presidents and financial aid gatekeepers that parents don’t know (or are afraid) to ask and summarizes the research about what matters and what doesn’t.
Finally, Lieber calmly walks families through the process of setting financial goals, explaining the system to their children and figuring out the right ways to save, borrow, and bargain for a better deal.
The Price You Pay for College gives parents the clarity they need to make informed choices and helps restore the joy and wonder the college experience is supposed to represent.
About the Author
Ron Lieber is the "Your Money" columnist for The New York Times. Before joining The Times in 2008, he wrote The Wall Street Journal's "Green Thumb" personal finance column, was part of the start-up team at the paper's "Personal Journal" section, and worked at Fortune and Fast Company magazines. He is the author or coauthor of three books, including The New York Times bestseller Taking Time Off. He lives in Brooklyn with his wife, fellow New York Times reporter Jodi Kantor, and their daughter.
“If you have a teen headed for college in a few years, you literally can’t afford to skip this candid guide by The New York Times' 'Your Money' columnist Ron Lieber. He grills college presidents and financial aid gatekeepers to answer all your biggest questions about the right ways to save, borrow and bargain for a better deal."
— Audrey Goodson Kingo, Working Mother Magazine
"Aims to provide parents and students financing their own way with the information they need to make more informed, financially sound goals and decisions."
“A deeply reported, conventional-wisdom-busting guide to a subject that many of even the most financially adept and prepared individuals find terrifying. The book arrives at a moment when families are re-scrutinizing the price schools charge for tuition; how much debt students take on, and what exactly is worth the money and why.”
— Town & Country
"Contains an implicit analysis and critique of higher education as a system, by acknowledging the inequities that exist at every level from recruitment to admissions to financial aid. It’s a how-to book that will also make you think, 'But why?'"
— New York Times Book Review, Editor’s Choice