Can't Afford the College of your Dreams?
By: Cristina Fernandez
Affording college is a tremendous issue countless families are currently be confronted with. While a students preference of colleges can be based on location, best social environment, or best academic environment, it has become more and more clear that tuition must be an important factor in the big college decision. College tuition has been on a steady rise and analysts predict that it will continue to rise. How do students and parents afford the college of their dreams without being crushed by high tuition rates? Here are some helpful hints for students and parents to consider:
1. FIGURE OUT THE TRUE COST OF COLLEGE: When you make your initial list of colleges you wish to attend, also list the true tuition of that college. Remember, there are numerous expenses to take into consideration. For example, distance and transportation; the farther you decide to go to school the more it will cost students to travel home. Students and parents should add about $4,000 to the initial tuition rate for text books and supplies. Also, parents and students take into consideration the type of school. Private universities range from around $48,000 to $60,000, while Public colleges may cost from $20,000 to $33,000. Whether a student is in-state or out of state affects tuition significantly. Students in-state pay less compared to students attending a college from out of state. According to The College Board’s Trends in College Pricing, the 2010-2011 average total cost for students attending four-year public colleges and universities in-state is $16,140 and out of state is $28, 130. These statistics can be found on www.collegeboard.com. Note these numbers take student financial aid packages into consideration.
2. APPLY FOR FINANCIAL AID: With college tuition prices on the rise, it is becoming more important to apply for financial aid. Almost every college and scholarship require students to fill out the FAFSA (Free Application for Federal Student Aid) form. This is an application for financial aid given by the government but may also be used by the school to determine how much money they will be able to provide for the student. Students will need the help of their parents to fill out the FAFSA form because certain information is required that the student may not know. This information may include parent’s salary, personal income tax information, assets, and more. The FAFSA form is recommended to be filled out as soon as it is provided (in January) because most college financial aid is given out on a first come first served basis. This form is very important because it determines your eligibility for federal, state, and local aid as well as other college scholarships, loans and grants. The FAFSA application can be found on www.fafsa.ed.gov. Another useful website that may assist you in applying for financial aid is www.finaid.org. Be aware that some companies may send you scam emails that appear to be real grants or aid but really are not. They lead you to fake web sites and provide false information.
3. APPLY FOR SCHOLARSHIPS: There are several ways to look for different scholarships to apply for. There are two kinds of scholarships, merit based and need based. Depending on your situation, search for the scholarships that you think would be most appropriate. Some schools have access to college panning programs such as Naviance. This service allows a student to record their academic history, gpa, SAT scores, and ACT scores. There are links on the Naviance website that matches scholarships with your student information. It tells you the deadlines, the requirements, and award amounts for the scholarships that are most appropriate for you. Another way to look for scholarships is to look on the website of the college that you are attending. Make a calendar with all of the deadlines to assure that no scholarship opportunities are missed due to procrastination. Sometimes scholarships are tricky to find, and it may take a little while to find the scholarships are eligible for so BE PATIENT! Keep in mind that certain scholarships require letters of recommendation from parents, employers, or other adults who know you well. Make sure you have enough time to talk to these adults, and make sure to provide them time to write the letter. Often scholarships can be found using a typical search engine. This can be an easy way to get started. Type in any kind of scholarship you are looking for and you will get a variety of options and websites.
Affording college puts enough pressure on parents as it is, so why not make it easier on yourself by applying for scholarships? It takes patience and time to search college tuition, apply for financial aid, and write essays for scholarships, but a few hours of your time could save you thousands of dollars in college tuition!
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