Dave Ramsey Advises Single Mom on College Costs: Focus on Net Price Over Prestige
Financial advisor Dave Ramsey provided guidance to a single mother from Boston, Renee, who is navigating the financial challenges of sending her son to a private college in New York. The college's annual cost is approximately $93,000, but with $72,000 in need-based scholarships, Renee's out-of-pocket expense is reduced to $14,000 per year. Ramsey emphasized that the prestige of the college is less important than the actual cost and the education received. He advised Renee to ensure that the scholarships remain in place throughout her son's education and to be prepared to transfer to a more affordable option if financial aid is reduced. 
