By Bill Quain
This is the sixth and final column in my series about colleges, where I’ve shared information from my upcoming book, “Bankrupt U – Students, Parents and Alumni Are Going Broke, & Colleges Don’t Give a C.R.A.P.” In the book, my co-author Dr. Joe Corabi and I give our readers an insider’s view of how colleges are big businesses. We want students to get the most from their college experience while paying the least amount possible. And we give them information on making money – information that colleges no longer bother to teach their students. Today, I’ll be talking about filling up your college transcript – the list of courses you must take in college.
College Transcripts and The Monopoly Board
If you didn’t read last week’s column “Want a Lifetime Win? Play Monopoly!”, visit https://shorelocalnews.com/want-a-lifetime-win-play-monopoly/. I love Monopoly! As a professor on Stockton’s Atlantic City Campus, I like to use it when talking about college. The Monopoly board and college transcripts each have 40 spaces on them. Whether you’re playing Monopoly or filling up a transcript, you need to follow a good strategy.
Don’t Give Your College a Monopoly
In last week’s column, I used an example of a college that charges $30,000/year in tuition. At 10 courses/year, that’s $3,000/course. For 40 courses, you’ll pay $120,000 total. (Ever notice how colleges never talk about that enormous “total” number?) For now, let’s look at those 40 spots on a transcript.
In the first two years at almost every college, you are required to take general education courses. These might be things like sociology, philosophy, algebra, etc. Are those courses worth as much to you as a senior-level course in your college major? No! So, why are you paying the same for those “intro” courses as you are for those “senior level” courses? I can tell you why. It’s because your college has a monopoly!
That’s right. Your college has led you to believe that you have to take every course from them, and pay the same price for each and every course – no matter how much it was really worth. It’s crazy! It’s like landing on Mediterranean Ave with a hotel, and paying $2,000 (the rent for landing on Boardwalk with a hotel) when you should only be paying $250. Hey, this is no way to win the game!
Break The Monopoly. Transfer The Courses.
When my co-author and I were writing “Bankrupt U”, we sent the manuscript out to a few college parents to get their reactions. One college dad was just about to write a check for $28,000 for his son’s first-semester tuition. He read our chapter, “Your College Transcript – The Most Expensive Piece of Real Estate You Will Buy Before Your 25th Birthday,” where we talked about taking your less valuable courses at a lower price, and then transferring the credits into the more expensive college.
This college dad looked at the $28,000 check (for five classes that would be $5,600/course) and then looked at the local community college’s website, where those same courses cost about $1,000 each. Using our advice, he came up with a plan for his son. The son would take two general education courses each summer (a total of six courses), and graduate a semester early. The six courses at his son’s expensive school would cost $33,600. Those six courses at the community college would cost $6,000 – a savings of over $27,000!
Using my advice, this college dad checked with his son’s university to confirm that they accepted transfer classes from enrolled students. Be sure to confirm this with your college if you use this strategy!
Two More Important Monopoly-busting Techniques
Every high school offers Advanced Placement (AP) courses, which many colleges accept for full credit. If your child is going to college, be sure to check with their guidance counselor and see what AP classes are available. There is a national exam after each course that costs $98. If the student passes at a certain level, they may get full college credit for the course. If the student takes and passes enough AP classes, they could enter college as a sophomore!
And many high schools have agreements with local colleges, where a high school course is actually a college course. This is called dual enrollment. At Stockton University, we have dual-enrollment courses with many high schools. Students enroll in the course for free at their high schools, and if they pass the course, they can get full credit for it. There is a $400 fee to obtain the credit, but that’s for a full course credit. And if a student doesn’t end up going to Stockton, they can simply transfer the Stockton credits to the college they do attend, for huge savings! Again, it isn’t unusual for an ambitious student to arrive at college with at least one semester already completed.
And As I Say Each Week
I hope you’ve enjoyed my college series! Be sure to check out my website, www.theprofessorswhopayyouback.com. Send me an email to bill@quain.com.
And, as I say each week, I’ll see ya in the papers!
Bill is a Professor in Stockton University’s Hospitality Management Program. He is the author of 27 books, and a highly-respected speaker. Even though he is almost totally blind, Bill is a long-distance runner and runs the Ocean City Half Marathon each year. He lives in Ocean City with his wife Jeanne, and his Guide Dog Trudy. Visit www.billquain.com or email him at bill@quain.com.
