What is sticker shock as it relates to colleges?

    Published: 06-16-2009
    Views: 9,408
    Financial advisor Brad Barnett discusses what sticker shock is as it relates to colleges.

    Brad Barnett

    Brad received his Bachelor of Science degree from Southern Arkansas University, with a major in Psychology and a minor in Business.  He furthered his education by graduating from the Medical College of Virginia at Virginia Commonwealth University with a Master of Science degree in Rehabilitation Counseling, specializing in Mental Health.  He has been involved in the financial aid and/or rehabilitation professions for the past 15 years. Brad, a Past President of the Virginia Association of Student Financial Aid Administrators (VASFAA), currently serves as the Senior Associate Director of Financial Aid & Scholarships for James Madison University.  Immediately prior to JMU, he served as an Assistant Director of the Financial Aid Office at Virginia Commonwealth University.  Brad has presented numerous sessions at state, regional, and national conferences, and has served on a variety of association committees.  In addition to speaking at professional conferences, Brad has conducted an abundance of workshops and presentations in non-conference environments, including teaching a credit based financial literacy course at JMU entitled “Dollars and Sense.”  Many of the topics Brad’s speaks on include communication, leadership, values, financial aid policies and procedures, financial literacy, and saving for college.  He has also facilitated strategic planning and value development retreats.

    Host: What is sticker shock as it relates to colleges?

    Brad Barnett: Yes, sticker shock it's something that we all see. You see in the housing markets, you see it in the cars, you see it in whatever you want to buy you look at the price and all of a sudden, it s, well, I don t think I can afford that. It applies to college tuition as well. So, if you are looking at college tuition, that may not be what actually pay. Remember, get to the financial aid process because the end result is you could be awarded enough money to pay for all of that sticker price or a good part of it, so don t be scared away when you see the initial cost of the college. Find out what they are going to offer you first and then look at what the bottom line is.