Students to Schools: “Thanks, but no thanks”

It is high school students, and not the schools, that are doing the rejecting these days. And not because they don’t want to go to school, but because they can not afford to. The economic downturn has student hopefuls putting the breaks on their education, at least at the pricey institutions.
The market volatility has forced many students to re-evaluate their situation. Senior Tess Rusin had her heart set on attending New York University, but now says it’s too expensive. “When the economy took a downturn, 66% percent of my college savings disappeared — and I’m not getting it back,” she said. Students are now forced to turn to Plan B.
State schools and community colleges are now on the top of many student wish lists, which isn’t necessarily a bad thing. I’ve actually been advising students to enroll in a community college for years, just as I did. It makes good economic sense, especially in bad economic times. Assuming the bulk of your classes will transfer over to the four year school you are interested in, you will save yourself thousands of dollars.
Of course you could also win a sweet $10,000 scholarship, which is being drawn 3/31, and use that money toward the cost of education at that pricey iunstitution, but I would still maximize my time and money at a community college. It may not have that sexy big school appeal, but thrifty is in these days.