Paying for College: What Are The Options?
by Johnny Rogers
Recent surveys shows that 63% of high school seniors across the country will go on to attend either a community or four year college. Possessing a degree from either will increase earning power over your lifetime dramatically, and the college experience can provide lifelong memories.
The dream of attending and graduating from college is as attractive as ever, but the unfortunate reality is that the cost of a university education continue to rise. Tuition costs continue to outpace inflation and leave many students aspiring to attend college wondering how they will be able to afford the associated costs.
Many students have found that one of the most attractive and sensible ways to pay for college is to consider defraying some or all of the cost with scholarships.
Scholarships are offered by most major universities for a variety of reasons. Academic achievement and leadership are often criteria that schools will consider when deciding whom to offer scholarships.
Schools with extra-curricular programs such as athletics and band also offer a limited number of scholarships for those proven outstanding in their field. You can also pay for college by applying for private scholarships, often meted out on criteria based not solely on academics.
For the college aspirant who does not qualify for any type of scholarship, a common way to pay for college is through federal student aid. This aid, in the form of student loans, has enabled countless men and women to attend college that would never have been able to afford it otherwise.
The criteria for these loans are largely based on financial considerations, with priority being given to the neediest. Your high school counselor or college admissions office can help you find out if you qualify. The only drawback to this method of paying for college is that the student usually graduates with a large amount of debt.
If none of the above methods are possible, then a realistic way to pay for college is to attend a local community college before moving on to a traditional four year university. Community college classes are usually fully transferrable to most universities, and the student can save tens of thousands of dollars in tuition and room and board while completing the basic classes needed for any major.
Since most community colleges have extremely flexible class schedules, a student will often be able to work while attending a local school and thus save money towards their university tuition.
