1153: The Price You Pay for College with Ron Lieber, NYT Columnist

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 27 January 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

It is "the most complex and emotionally fraught financial decision that many families will ever make," says my guest Ron Lieber about college. This high-stakes money move is a source of anxiety, stress and confusion. Too often, it leads us down the wrong path of over-borrowing for a school that under-delivers. In his latest book, The Price You Pay for College, Ron help readers make the most financially and emotionally-intelligent decision possible in selecting a school. We'll discuss why the cost of college is SO high (over $300,000 for a private four-year college, on average), some secrets to paying for college (ever hear of merit aid?) and how to properly "value" the college experience, especially in the post-Covid world. Ron's book is available at https://ronlieber.com/books/the-price-you-pay-for-college/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 1153, New York Times columnist Ron Leiber,
0:04.8	author of the new book, The Price You Pay for College.
0:08.8	You're listening to So Money,
0:11.8	with award-winning Money Guru Farnu Shorabi.
0:14.5	Each day get a 30 minute dose of financial inspiration from the world's top business minds,
0:20.0	authors, influencers, and from Farnuus herself.
0:24.3	Looking for ways to save on gas or double your double coupons?
0:27.9	Sorry, you're in the wrong place.
0:30.0	Seeking profound ways to live a richer, happier life.
0:33.0	Welcome to So Money.
0:35.0	Think about the kinds of questions you might ask about a $300,000 house,
0:41.0	little of a $600,000 house or a $900,000 house or a 1.9 million dollar house, right?
0:49.4	You know, and this purchase involves our children and their future.
0:52.4	So, you know, we should be asking approximately 17 times
0:56.2	more questions about this than we do about the home purchase,
0:59.2	but we don't, right?
1:01.4	The average price for a private university in this country, ladies and
1:06.7	gentlemen, $300,000 a year. That is the latest and if you have a child that's going to be going to college in the next 10 years in the next 20 years, well, might want to double that figure. So today's episode is all about how to pay for this big ticket expense, how to value a college experience, and
1:26.6	is it all really worth it?
1:28.3	Welcome to So Money, everybody.
1:29.6	I'm your host, Farnoosh Terabi.
1:31.0	Joining me today is, I'm very excited. Ron Leiber, he is the
	...

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