What's the most effective financial goal for college?

Finances are definitely going to play a big role in my college decisions, as I'm sure they do for a lot of us. I've been thinking a lot about financial goals for college - how to save, how to limit debt, things like that. In your opinion, what's the most effective financial goal a student should have for their college journey?

When it comes to establishing an effective financial goal for your college journey, it is vital to minimize student loan debt while maximizing the value and return on your educational investment. Therefore, one effective goal could be "Graduate with as little debt as possible while still attending the best-suited school for your career aspirations."

Consider these steps towards this goal:

1. Research Schools: Look at schools that deliver excellent programs relevant to your future career, but also consider the cost of tuition, room, board, and other fees. This research will help you create a budget of anticipated costs.

2. Scholarships & Grants: Hunt for scholarships and grants and treat it like a part-time job. Every dollar you win is a dollar less you’ll have to borrow or pay out of pocket.

3. Work-Study or Part-Time Jobs: These can help cover living expenses and even some tuition costs.

4. College Savings and 529 Plans: If you or your parents have college savings or a 529 plan in place, establish how much you can draw from it each year.

5. Limit Borrowing: Only take out loans as a last resort, and even then, only borrow what's necessary.

Remember as you aim to achieve this goal, equally consider the quality of the institution and the potential return on your investment (i.e., job prospects, salary expectations, networking opportunities) against the cost and debt levels. Make sure that the financial strides you make will not limit your college experience or career opportunities.