Local author, higher education expert offers tips to manage, reduce student debt

Rose Rennekamp wants all parents of future college students to know something.

“Only 62 percent of full-time students at all four-year institutions graduate within six years.” That’s according to National Student Clearinghouse Research Center data.

“This is a major contributor to the high levels of student debt. Most families don't know this — and some that do, think it won't apply to their students,” Rennekamp says.

And she should know. Rennekamp spent two decades working at The University of Iowa and ACT. Now retired, she was vice president of communications for ACT and wrote a syndicated column, “College and Career Corner,” that was carried by 275 newspapers nationwide.

She is sharing extensive research and experience in her 2014 book “Cut College Costs: How to Get Your Degree Without Drowning in Debt.”

The problem, she describes, is that most of us save and plan for four years of expenses at a four-year school, which leads to more borrowing for extra years.

“A student who prepares well in high school, who carries a full load, focuses on their studies, and doesn't drop classes or switch majors is much more likely to graduate on time,” Rennekamp says.

Rennekamp says everyone knows college is expensive, which can lead them to assume they can’t afford to go. But, oftentimes, they can’t afford not to go, she argues.

“‘Cut College Costs’ describes hundreds of ways they can cut costs while still getting a quality education,” Rennekamp says. “It will help find the scholarships, grants and other funding they need, and show how to cut costs for everything from housing to books.”

  Buy Photo

She adds that her book is filled with practical advice and explained in clear language. It details the unique aspects of college and financial aid in straightforward, simple terms.

“The book is written for the prospective student at an eighth-grade reading level. There are 45 short chapters that don’t have to be read in sequence. It covers all the basics that a student needs to know, starting with the terms used in higher education and financial aid,” Rennekamp says.

Six chapters are devoted to planning and preparing for college, then the next 20 chapters detail different strategies for earning a degree more quickly or with lower out-of-pocket costs. The remainder of the book details ways to save money once in college.

“I remembered my own struggles figuring out college as an orphan. My grandparents were wonderful people, but with eighth-grade educations and few resources, they were not able to help,” she admits. “As much as I knew about the issues by the time I had teenagers, it was still a struggle for my own teens to plan and prepare for college. I strongly believe that education is our nation’s best path toward equality and opportunity for all. I felt an obligation to share what I knew with others.”

In fact, the former board president of the Iowa College Access Network and former director of the Kirkwood Community College Foundation feels so strongly that, for the first year after it was published, she offered the book free to libraries, counselors, college admissions and financial aid professionals.

“The money I have earned from the book has been donated to Kirkwood for scholarships or to the Iowa City Community School District Foundation,” Rennekamp says.

  Buy Photo

Top takeaways in the book include:

The reality, Rennekamp explains, is that today’s students need training beyond high school. That training could be an apprenticeship for a trade career, a one-year certificate program, an associate degree or a baccalaureate degree.

“Everyone, young or old, poor or not, can afford college. But students need to prepare well, explore many options, work hard and prioritize,” she says.