College admission is only half the plan. You also need to know whether your family can afford to say yes. Every Tuesday, I break down one part of college pricing and financial aid, from merit scholarships and Net Price Calculators to FAFSA, CSS Profile, award letters and the real four-year cost. After 20 years inside college admissions and enrollment, including serving as Dean of Enrollment Management at Barnard College, I’ll show you how colleges make these decisions and give you one practical move to make each week. Clear guidance. Real data. No guessing your way through one of the biggest financial decisions your family will make.
Introducing "From The Dean’s Desk" - A New Weekly Newsletter
Know Your Number Before You Know TheirsThe first number in your college plan should come from your family, not a college. By Christina Lopez Every Tuesday, I’ll send one clear idea about the financial side of college planning and one practical move you can make with it. My goal is to help you understand the decisions before they become urgent. Let’s start with your number.
THIS WEEK'S FOCUSMost families start the money conversation with the colleges. They look at sticker prices. They ask about financial aid and merit scholarships. They try to figure out what a particular school might cost. I want you to start somewhere else. Before we ask what a college might expect your family to pay, we need to know what your family can reasonably and sustainably contribute each year. For four years. START WITH THE NUMBER YOU CONTROLFor this first pass, your annual college budget can come from three places: College savingsHow much have you already set aside, and how much can reasonably be used each year? Monthly cash flowOnce your student is enrolled, how much could you sustainably redirect from regular monthly income toward college costs? Multiply that by 12. Committed family contributionsIf relatives plan to help, include that money only if the amount is specific and they are genuinely committed to providing it throughout all four years. Add those pieces together. This is your starting annual college budget. Do not include hoped-for financial aid, merit scholarships, outside scholarships, or money you assume you will find later. Those may become part of the strategy. They are not the foundation. College pricing varies from school to school. Without your number, we have nothing meaningful to compare those college numbers against. Admission is not attendance.
A successful college plan creates choices your student can get into and your family can sustainably afford to attend through graduation.
YOUR MOVE THIS WEEKTake 20 minutes and write down one annual number: What can our family sustainably contribute toward each year of college? Then stop. Don’t decide whether a school is “too expensive” yet. Next Tuesday, we’ll put actual college estimates beside your number. Ask the DeanWhat are you trying to figure out about paying for college? Submit a question and I may answer it in a future issue. I’ll remove identifying details and may edit questions for length or clarity. Want to go deeper? Register for the free workshop this Thursday. See you next Tuesday.
P.S. Keep your number somewhere you can find it. Next week, we’ll run a few Net Price Calculators and start comparing your number to theirs. Housekeeping: add this email address to your contacts or safe sender list. If you use Gmail and this landed in Promotions, move it to Primary so future issues are easier to find. |
From The Dean's Desk
College admission is only half the plan. You also need to know whether your family can afford to say yes. Every Tuesday, I break down one part of college pricing and financial aid, from merit scholarships and Net Price Calculators to FAFSA, CSS Profile, award letters and the real four-year cost. After 20 years inside college admissions and enrollment, including serving as Dean of Enrollment Management at Barnard College, I’ll show you how colleges make these decisions and give you one practical move to make each week. Clear guidance. Real data. No guessing your way through one of the biggest financial decisions your family will make.