Business

It’s your damn fault that you’re paying so much for your education

Okay, maybe it’s not all your fault. The colleges themselves have something to do with the high cost, but it’s definitely down to your choices. Are you one of those people who complain about the high cost of your college education? Are you a graduate who gets depressed every time you have to make a ridiculously high student loan payment? If so, could you have done things differently and still received an excellent higher education?

According to the College Board, the average total published charges for full-time undergraduate students by type for 2013-2014 is as follows: Public for four years in the state $ 18,391; Public four years out of state $ 31,707; Private non-profit for four years $ 40,917. According to another study published by the Institute for College Access and Success (TICAS), the average debt incurred on student loans had risen to $ 29,400 for the class of 2012. The 2013 figure increased by almost 10 percent compared to the estimate. of the group. year before $ 26,600. This shows an increase of an average of six percent each year between 2008 and 2012. When students and parents look for someone to blame for the high cost of their college education, they should first look at themselves and reflect on what they are doing. they could have done. differently. Here are some things to consider.

1. You could have studied more.

As colleges compete to attract the brightest students to their school, they are poised to offer the best possible deals, including a full trip. Many colleges will offer additional grants and scholarships to high school graduates with high GPA, SAT, ACT scores; These are called merit-based scholarships.

2. You could have been more involved.

Most college athletes attend school on an athletic scholarship, however, if you are not gifted for the sport, there are many other extracurricular activities that you could have evolved into. Some colleges and universities offer special grants and scholarships to gifted students. Music, journalism, theater and volunteering are some of the categories for which these awards are awarded. In addition to schools that offer scholarships to students with special interests, community and government organizations do as well.

3. You could have fought for more free help.

Completing the FAFSA is not enough; It is also not the only step in applying for financial aid. Each year 150 billion in financial aid are awarded to college students and more than a million scholarships are awarded. There are scholarships based on athletic ability, academic merit, disability, race, national origin, religious affiliation, location, financial need, and more. With a little research and patience, you could have found a long list of scholarships that you are eligible for even within your own school and community.

4. You could have chosen a school and major that offered the best financial aid incentives.

How did you choose the university you applied to? The one with the best fame, prestige, because it is where your friends and family attended or perhaps because you like their soccer tea? Maybe you attended where your boyfriend / girlfriend goes. However, a more responsible way would have been to select the school that offered the best financial aid package.

When it comes to choosing a major, there can be many factors to think about. Studies have shown that most people do not work in the field in which their degree is found; It would have been financially smart to have chosen a major with the best financial aid incentive. Scholarships and grants vary by major, so with a little research you could have found a college and career field that needed people to fill them and offer various financial incentives to those pursuing a major in those fields.

5. Could have stayed in state and off campus.

A state college or university charges lower fees to residents of the state. Since public institutions are subsidized by state revenue, their tuition costs are lower than the costs of private schools. Here are the facts: A student living at home can save up to $ 6,000 per year. Some students choose to attend a community college for one or two years and then transfer to a four-year school. Tuition costs are substantially lower at community colleges than at four-year institutions.

6. Could have served in the United States Armed Forces.

The military offers many educational benefits that service members can take advantage of during or after service. Service members have access to benefits ranging from financial aid and college funds to programs that turn military training into college credit. Here are some of those programs: Tuition Assistance, Post 9/11 GI Bill, College Fund Programs, Loan Repayment Programs, Service Member Opportunity Colleges (SOC), Air Force Community College ( CCAF), Exam programs and others.

7. You could have asked your employer and / or your parents’ employer for help.

Many employers offer employer tuition assistance programs to their employees and their families. Your employer may offer you up to $ 5,250 in employer education assistance benefits for undergraduate or graduate courses tax-free each year, per section 127 of the Internal Revenue Code. Another smart strategy would have been to get a job for a university because many universities offer free education to their employees.

8. You could have been strategic with your FAFSA to maximize your rewards.

Studies have shown that one in seven FAFSA forms are completed incorrectly, leaving students with money on the table. Also, many students never question their financial aid. Here are some things you could have done wrong: You waited too long to complete the FAFSA or worse, you didn’t fill it out at all, you kept assets in the student’s name, you overstated assets and income, you didn’t update the financial aid office when circumstances changed.

9. You could have saved on those expensive books.

You could have rented or bought used textbooks, sold your old book, and rolled over the money for the next game. He could have borrowed, traded, or partnered with classmates to share the books or the cost. If you did, it would have saved you thousands of dollars a year.

10. You could have kept your grades high.

Almost all college funding is tied to your grades, each time you dropped or failed a class it may have cost you to retake it and it has kept you in school longer, which also cost you. If you did not comply with the school’s Satisfactory Academic Progress (SAP) policy, you would have lost or risked losing your Federal Student Aid plus any other scholarships, military benefits, and even employer assistance benefits.

Leave a Reply

Your email address will not be published. Required fields are marked *