Im very familiar with this whole process being that I teach a senior elective class that helps students through the college admissions process. My seniors this year have reached 8 mil in merit scholarships they have won. There is no one best way to get your education. Public, private, vocational, etc? Each case is different. Each scenario has different pros and cons.
Here are some randoms thoughts I have based on some comments already made and ones Im always faced with:
Community colleges - yes can save you money to take your core classes and then transfer to a 4 yr college. It is a great way to save money if you transfer to another public institution in the same state. However, if you transfer to a private school the savings you made the first two years might not outweigh the loss in fin aid you will get as a freshman vs a transfer student. Private schools always give the best packages to true freshmen. Im not even talking about need based aid just the merit aid offered. I have lots of students who are attending very expensive private schools because the aid offered to them brought the cost down to less than what it would be to attend a public in-state school. If you transfer to another public institution in another state, you may have missed the boat for their tuition exchange programs. Many regions offer something along those lines. Case in point, if one of my kids chose to go to a community college and then transfer to the university of Oregon they would miss out on the WUE (Western Undergraduate Exchange) scholarship. UofO only offers it to true freshmen. Savings on that scholarship is over 12K per year. Another draw back to community colleges is that many do not have good matriculation/graduation rates. Research the statistics at your community college. Often students who go that route end up spending 3 or more years before earning their AA or transferring to a 4 year college. Every extra year in community college is one less year earning a real income when you earn your degree. So is community college the best route? That depends on your situation. I would strongly encourage you do your research on all options so you can make a sound decision.
Independent status: Its not that easy to prove that you are independent when you are under 24 yrs of age. Its not as easy as just getting your own address. If that was the case everyone would do it. It is a decision made by each school on a cases by case basis. I have found that the larger universities are very inflexible with this situation and smaller private schools are more accommodating. They will not grant it simply because the student doesnt get along with their parents. It has to be some kind of situation with extenuating circumstances. Parent incarcerated, no physical contact for a number of years with parents (must be proven), have been in foster care, etc.
Becoming a resident of another state to get in-state tuition rates: Many states have closed a lot of loopholes for this. Basically in the minimum you have to be in that state for at least one year for non educational purposes. You will also have to prove that you are supporting yourself without the help of your parents. They will look at your income compared to your living expenses and bank statements to verify all that. Also keep in mind if you do become a resident of another state you are no longer a resident of your home state if you ever decide you want to come home to finish college. Ive seen that happen.
Student loan debt: I cringe when I hear stories of students graduating from college 100K + in debt. Some student debt is a good investment in your future too much debt outweighs the positive gains in income. I like to compare it to buying a car. If you cant afford the car loan, get a less expensive car!!! I always advise my students to reconsider their choice of school when I see them looking for alternative loans to make up the difference from the federal loans that are offered. There are two basic federal loans offered the direct subsidized and direct unsubsidized (there is also a perkins loan but that is need based and limited). One way to minimize the compounding of the interest on an unsubsidized loan is to pay the interest while you are in college so that it wont compound during your 4 years of school.
Private schools: Many parents see the tuition on the brochure and faint. Dont write off a private school based on tuition. You rarely pay the sticker price. Again depending on your situation you could get a very good package. There are many factors they consider when offering aid to a prospective student including: major chosen (that can have a big impact), ethnicity, geographic diversity, volunteer activities, associations, etc. I have many students attending private schools because it cost them less money than our local public university.
Trade schools: I always advocate a trade school if that is in fact what the student is interested in. However, if your kid is interested in the sciences for example, it makes no sense to send them to welding school!!!
I could write a lot more but my fingers are getting tired!!! LOL
