5 Tips for Parents- Tip 2- Stay Open to Out of State Opportunities

This video highlights the misconception that in-state schools are always cheaper and advises staying open to out-of-state college opportunities, both for cultural fit and potential financial advantages. It mentions that while public in-state schools may seem cheaper upfront, out-of-state options can become more affordable with scholarships, especially in neighboring states. It also notes that the in-state vs. out-of-state distinction typically applies to public universities, with private schools maintaining a consistent price regardless of location.

Video Transcript

Tip number two really surprised me because when I was looking for school, 90% of the schools I remember looking at were all in state, and there was this assumption that in-state schools are always cheaper.


So, tip number two is stay open to out of state opportunities, not only from a major or culture fit, but also, more importantly, from a financial perspective when your kids looking at colleges, it is true.


So, I’m here to debunk the misconception that in-state schools are always cheaper than out of state schools. Now, in some cases, yes, that is true. So, when students are looking at a public school in-state, the cost of attendance.


So, the sticker cost is typically cheaper. But if you know where to look and if you do your research, there’s a lot of schools in our surrounding states. So, in Ohio, West Virginia, Kentucky, where these schools may appear to be more expensive, but once scholarships are applied, it actually brings the cost down lower to what some of our in-state schools would be.


One caveat to that is the in state out of state tuition only plays a factor if it’s a public university or a public school. So, if it’s a private school, regardless of what state it’s in, the price is the price.


So, a lot of people think that a private school in Tennessee is going to be extremely expensive because it is private and out of state. But because it’s private, they are more likely to give additional scholarship money because private schools tend to be a little bit more generous.

Show Full Transcript


5 College Tips for Parents

5 Tips for Parents- Tip 1- Do Very In Depth Research
5 Tips for Parents- Tip 3- Put Proper Time Into Researching Additional Scholarships
5 Tips for Parents- Tip 4- General Tips on School Loans
5 Tips for Parents- Tip 5- Financial Aid Appeals

Recommended Videos

10 Tips for Current Retirees - Tip 7- Consider How You Will Spend Your Time
10 Tips for Current Retirees - Tip 6- Don't Base Investment Allocation on Your Age
10 Tips for Current Retirees - Tip 5- Track Monthly Spending
10 Tips for Maximizing Your Financial Plan in 2023: Tip 6- HSA's
10 Tips for Current Retirees - Tip 4- Have a Game Plan for Long Term Care
Should I get Married for Tax Purposes?