Many potential students find themselves using the excuse that college is too expensive, which prevents them from furthering their education. However, students don’t necessarily have to over-spend to earn their degree.
An annual study from Sallie Mae reveals that middle and upper class families seem to be finding ways to spend less on the total cost of college. The report points out that the average amount paid for college has dropped down 9% from last year.
Question: ”What happens if our child’s college does not give us all the financial aid we need?”
Answer: You must make up the difference. A common misconception is that if your child qualifies for financial aid, he or she will receive 100% of the aid he or she needs. In creating financial aid packages, colleges are not obligated to meet all of a student’s financial need. Colleges have limited financial aid budgets and tend to offer the most aid to those students who meet their specific enrollment goals.
It’s no secret that the current state of the economy has changed the way people approach their future, and college planning is no exception. However, despite the country’s financial woes, higher education still remains of utmost importance for families across the country.
Earlier this week, the American Institutes for Research (AIR) released a report revealing that an alarming number of students did not finishing their college education. The findings, which focused on one year and one graduating class, concluded that close to 50% of students who entered college did not graduate within six years.
Posted in Education News
Tagged Barack Obama, College, College Expenses, Economy, Government, Graduation, Paying for College, Student Loans, Students Debt, Tuition
