72: Lynnette Khalfani-Cox and Affording College

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 24 March 2015

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you are thinking about going to grad school… or have children heading off to college soon, you’re probably wondering 'How the heck can I afford it? How do I plan for it?’ The cost of higher education in the US has skyrocketed more than 500% over the past 30 years, all while salaries and labor market have stagnated. Today’s guest, Lynnette Khalfani-Cox, who is the CEO of TheMoneyCoach.net and a New York Times bestselling author of “College Secrets: How to Save Money, Cut College Cost, Graduate Debt Free” is here with us today to dispel misconceptions about college and give important advice on how to make school affordable for you or your child and family. Before launching TheMoneyCoach.net in 2003, Lynnette worked for nearly a decade as a Dow Jones Newswire reporter and a Wall Street Journal reporter for CNBC, where she covered business and personal finance news. Three takeaways from our interview: -- 5 financial options you should consider before applying for student loans -- What criteria determine the “best” school for you. (Hint: It’s not about the brand name.) -- #1 financial habit that makes a huge difference in Lynnette’s marriage Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money
0:03.4	Cox
0:04.0	You're listening to So Money, with award-winning money
0:07.2	money guru Farno Shorabi.
0:08.8	Each day get a 30 minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnuus herself.
0:17.0	Looking for ways to save on gas or double your double coupons?
0:22.0	Sorry, you're in the wrong place.
0:24.0	Seeking profound ways to live a richer, happier life.
0:27.0	Welcome to So Money.
0:29.0	Hey everyone, welcome back to So Money. I'm your host,
0:35.0	Varnouche Tarabi. Today's show focuses on how to pick the right
0:40.7	college, how to pick the right graduate school, how to make it affordable.
0:45.0	You know, I went to Penn State undergrad
0:48.0	and then following that, I went to Columbia University
0:50.0	for the Graduate School of Journalism
0:52.0	and I was fortunate that I graduated from
0:54.9	college debt free but then to go to grad school I took out about $25,000 in
1:00.0	student loans it was a 10-month program and for me that was so much money, especially for
1:05.8	somebody who was going to enter the journalism world where as we know it's not exactly a
1:10.4	super lucrative track, at least not in the beginning and but fast forward to today I just
1:17.4	read an article that my program that cost me roughly 25 30,00030,000 all those years ago.
1:24.2	This was probably like 12 years ago.
	...

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