A college education is something that anyone who wants it should be able to have access to. Yet, with the cost of tuition continuing to rise and the latest reports stating that most graduates, on average, have a debt of around $27,000 following graduation, it’s no wonder that financial aid is such a hot topic.
If you or someone who you know is preparing to go to school, financial aid is needed and you’d like some information on how to avoid some of the common pitfalls that come with it, we have enclosed five things for you to know below:
Don’t overlook other options. Although many students apply for some form of financial aid each semester, remember that this shouldn’t just include taking out a government loan. There are many scholarships and grants that are available as well. CollegeGrant.net and CollegeScholarships.com are two websites that can provide you with a list of ones to apply for.
Talk to the school about payment plans. Some people feel that they can’t attend the college of their dreams due to how much it costs to go, but there are actually many schools that provide payment plans so that you can pay monthly for your tuition rather than providing the entire amount in one lump sum. Also, most college websites have what is known as a Net Price Calculator which helps you to figure out what the net price of attending their school would be. The reason why this is beneficial is because you may discover that your net price is lower than you initially estimated and so even if you did need some financial assistance, it might not be as much as you thought (which means, you won’t incur as much debt as you assumed).