A Quick Way to Cut College Costs
Consider a family of four, earning $100,000 in income and having $50,000 in savings. The E.F.C. says that this family will contribute $17,375 each year to a child’s college expenses. A $100,000 income translates into take-home pay of about $6,311 monthly. An E.F.C. of $17,375 means the family must contribute about $1,500 a month — every month for four years. But cutting family expenses by 25 percent every month is unrealistic.
.. Meanwhile, lobbying expenditures by colleges, universities and higher-education organizations have totaled more than a half-billion dollars over the past five years — the eighth highest special-interest category attempting to influence Congress.