Part requirement for my Master’s thesis, part lifelong dream, part income generation tool, and part social promotion strategy; my first non-fiction book is currently under development. As part of my Master’s course work, I have known that this day would come for a few years now. Getting to this point however, has been a struggle, and it is hard to believe this is actually happening.
Regardless of all of that, the first pages have been written and my book is under way!
I don’t have a title chosen yet, although the working title is “The Smart Way to Pay for College, Post Great Recession”. Please let me know if you have any brilliant ideas for a title.
As you can likely deduce from the working title, the book is a non-fiction guide to helping students, parents, and other family members make smart decisions with college financing. I introduce some unconventional means of raising money to pay for college, and hope to provide a great resource for anyone struggling with the rising costs of college.
I hope that this book can be a handbook to paying for college in 2013 and beyond. The college finance landscape has changed dramatically in the last 5 years, and old tactics won’t work any more. We need to re-tool our thinking if we want to have any hope of being able to afford college when our children decide to go.
As much as I would like, this book’s goal is not to battle the high cost of college tuition. That is a separate beast and one that I can’t tackle alone. My goal however, is to help you manage those rising costs and find ways to negate the rise in college tuition.
Where You Come In
The entire purpose of my book is to help you (students, parents, grandparents, or others) understand and better manage the college finance system.
This is my full-time profession so I feel like I have my finger on the pulse of the hot button issues, but I crave your help in letting me know what questions you have!
What are the burning questions you have about paying for college?
What makes you the most angry about the college finance process?
If you could change one thing (besides getting free tuition…) what would it be?
What are your views on working while going to school?
Do you plan to take out student loans?
I also plan to post outlines, chapters, and excerpts from my ongoing book project here on Money for College Project. My goal is to hold myself accountable to you through my blog, and I hope you will help by calling me out on my progress, and checking in to see how things are coming.
Oh, and if you would be up for an interview let me know because I need to conduct a number of them!
Congrats on getting started! I’m honestly too far away from my kids going to college to have a ton of insightful questions, but if you have any advice for someone just starting out that could be helpful. We’ve already got a 529 set up and are contributing what we can, but there might be other things to consider. I’m also happy to do an interview if you want it, though again I’m not sure I’m your ideal candidate. Looking forward to hearing more as you work through it.
Matt Becker recently posted..Carnival of Financial Planning
Thanks Matt! My daughter is about to turn one, so I am in a similar stage as you. I’ll definitely go into some saving strategies for college finances, as well as some creative ways for the students themselves to pursue money for college. I’ll definitely hit you up for an interview. Many of my interviews will essentially be focused on “What are your worries, fears, questions about paying for college?” I imagine we would all likely be great candidates for that question!
MoneyforCollegePro recently posted..I’m Writing My First Book – Help Keep me Accountable
Frankly, What gets me the most upset is the EFC. I remember when I first filled out the FAFSA in 1999, it came up with an estimated family contribution of roughly $2500. That was for a family of 5 that made $45,000 and had no assets.
Edward Antrobus recently posted..My Day in Small Claims Court
Yeah, unfortunately the EFC is no way reflects reality. I suppose that is the government’s goal to reflect reality, but it certainly does not.
MoneyforCollegePro recently posted..I’m Writing My First Book – Help Keep me Accountable
I setup a 529 right after my son was born and I plan on contributing to that, but I might also setup a simple investment account to put money in. I would love to see if my son could get a scholarship, but that is 18 years away, so I have no idea what the landscape will be. I think that is my greatest fear, just the unknown of the college landscape. We have no idea how much it will cost, so there is no true goal to hit. I would be happy to do an interview if you think I might be a fit.
Grayson @ Debt Roundup recently posted..Are You Hardwired To Make Bad Investment Decisions?
@Grayson – I would definitely like to do an interview in the next two months or so. I’m at the same stage in life as you are, and have very similar reservations/concerns. I’ll be in touch!
That’s great, congrats on getting started. Seems like this could be a real resource for people.
One thing I think is vital, which seems to escape many people, is the notion of educating parents on basics of personal finance, as well as how to assess potential ROI of different schools and degrees. Parents being ill-informed on money leads to kids making poor choices and taking on excessive debt. Just a thought.
Tie the Money Knot recently posted..Being Married Can Save You Money On Car Insurance
I could not have said it better. Understanding ROI and looking at your employability upon graduation should be the number one qualifier when deciding which college to go to IMO.
MoneyforCollegePro recently posted..I’m Writing My First Book – Help Keep me Accountable
Wow! That’s cool. So, does the butler do it?
While I was pretty well prepared for college because of my work background, here’s what always frustrated me: people don’t realize how important the FAFSA is until it’s too late. People don’t get aid the first year and then quit trying. People don’t understand that WHERE you keep your money is an important factor in determining your aid package.
Congrats on the book! Let me know when you’re done and we’ll have you on the show.
AverageJoe recently posted..Is It Time To Fire Your Advisor?
Ha! We will have to wait and see…
The EFC calculation in your FAFSA is definitely a very misunderstood topic. I’ll definitely make a point to devote some time to explaining the ramifications in the book. Thanks!
Awesome! Best wishes on your book!! Excited for the updates!
Thanks. I will definitely make them available as soon as I have finished writing!
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