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💡Rethink your paying for college strategy Thumbnail

💡Rethink your paying for college strategy

Let’s be honest. It’s becoming increasingly difficult to afford college. After all, for the 2023-2024 academic year, the all-in cost of attendance for an on-campus student at Boston University is listed at $86,363[1]. That’s for one-year 😲. Let that sink in.

 You can do the math. For many families, that type of cost is not affordable, at least without taking out massive loans. However, the value of a college education is still just as valuable as ever. According to the US Bureau of Labor Statistics, a 4-year college graduate has median earnings 65% higher than someone with just a high school diploma[2].

 How do we solve this problem? Let’s think outside the box. Let me take you through 3 ideas to help cut the cost, and still help your child to that valuable 4-year college degree 🎓

  1. MassTransfer A2B Program

How it works: 

 First two years at a Massachusetts community college, final two years at a state university or UMass Amherst.

If your child graduates with a B average with their associates degree, they’ll have guaranteed admission to a state university or UMass to complete their junior and senior years

Why consider it: Community college costs are substantially cheaper than 4-year colleges. For students still unsure of a major, starting at a community college is a great way to explore career paths and stay within your budget

                2. ROTC programs

 How it works: 

ROTC programs fund students’ tuition and room and board through a 4-year education in exchange for military service after graduation

Available for the Army, Navy and Marine Corps, Coast Guard or Air Force

Service obligations post-graduation vary between 3-10 years depending on scholarship acceptance and military branch

Why consider it: Graduating with a 4-year degree and a guaranteed post-college career can be extremely valuable, especially with no student loan debt.

                 3. GI Bill

How it works:

For those that serve in active duty, they are eligible for payment of tuition and fees, a monthly housing allowance and a stipend for textbooks at public universities


40% - Minimum requirement of at least 90 days of active service

100% - Full benefit with 3 years of active service

Why consider it: Service out of high school requires a commitment but can provide very rewarding educational benefits in the long run.

As you can see, there's immense opportunity here for all types of students, especially those who may need some time to find an intended major or career path. Have questions about what opportunities that may be available to your child? Feel free to reach out, I’m happy to help!

All the best,

Andrew Holmes, Certified College Planning Specialist™






[1] https://www.bu.edu/admissions/tuition-aid/tuition/

[2] https://www.bls.gov/emp/chart-unemployment-earnings-education.htm


Financial Planning Solutions, LLC (FPS) is a Registered Investment Advisor. Financial Planning Solutions, LLC (FPS) provides this blog for informational and educational purposes only. Nothing in this blog should be considered investment, tax, or legal advice. FPS only renders personalized advice to each client. Information herein includes opinions and source information that is believed to be reliable. However, such information may not be independently verified by FPS. Please see important disclosures link at the bottom of this page.


Updated May 2023

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