Many prospective and current college students don’t realize that their income and assets are taken into account when they apply for financial aid, just like that of their parents. So should students be worried about earning too much money and receiving less financial aid if they have a job?
Funding for federal student aid programs was first authorized in the 1960s and 1970s and has increased dramatically to keep up with the skyrocketing costs of college. Yet, despite this increased aid, negative patterns of inequalities in college attendance, low completion rates, and high student debt continue. It’s become clear that a new approach might be needed: one that focuses on college affordability and access.
The Education Department has released its annual list of the country’s most expensive colleges, both private and public. For 2011-12 academic year, Columbia University narrowly edged out Sarah Lawrence as the college with the highest tuition in the U.S., at $45,290 per year. This does not include room and board, books, or college fees, which push most of the most expensive colleges’ list prices far above $60,000.
Like many prospective college students we work with, Erin had a firm idea about the college she wanted to attend. She believed she had found her “dream school” when she submitted her seat deposit to Wake Forest University during her senior year of high school.
But that all changed when Erin had a conversation with her parents about the financial implications of her decision to attend the private North Carolina university. Her parents were requiring she take a 50% stake in her college education, regardless of where she went. Erin wasn’t receiving any financial aid or scholarships from Wake Forest, and with her parents only willing to pay for half of the full $160,000 tuition bill, she would have to come up with $80,000.
Believe it or not, private colleges are now offering more financial aid than ever. Of course, with college costs rising, it make sense for financial aid to adjust accordingly. However, it’s not just the amount of grants and scholarships that’s increasing–it’s the percentage of the overall tuition total. According to Time Magazine, in a survey […]
Students and families shopping around for the best college for their money might be initially turned off by most schools’ high costs of attendance. But most students and families don’t pay a school’s sticker price–in fact, many pay significantly less, or even nothing, for their college educations. Check out this video to learn about net price calculators and how they can help you determine the real cost of college.
Did you know you could get a scholarship for college for being tall, a vegetarian, or a Star Trek fan? Check out these 5 usual college scholarships for things you’d never expect.
After President Barack Obama and Congress failed to reach a deal on February 28 to avoid a series of devastating spending cuts, colleges are scrambling to respond to the threat of massive reductions in funding for research and development, student financial aid, and workforce training programs. For prospective college students, the funding cuts for work […]