As the cost of college has risen 570% over the last 30 years, (yes, 570%!) many families are struggling to pay for their children’s college education. In March of this year The New York Times reports, “…with ever-higher tuition, full-time college attendance is out of reach for an increasing number of students, which bodes ill for their chances of completing a degree.”
If you are concerned about the costs of college, don’t despair. Getting the right kind of information from colleges before applying can be a huge help in finding colleges that fit your budget. Here are a few questions you should ask the financial aid offices when researching campuses.
- What is your cost of attendance – tuition, housing, books, transportation, and personal? How much of an increase do you project for next year?
- What types of financial aid do you offer? What are the requirements for need-based aid and for merit-based aid? When are the application deadlines for your financial aid forms?
- Are you need-blind in your admissions decisions? Will applying for financial aid hurt my chances of being admitted?
- How much debt do students have when they graduate? What percentage of students graduate with debt?
- What percentage of students graduate in 4 years, 5 years, and 6 years?
- How does the financial aid application process differ for early admission students (if offered)?
- Will you meet my full financial need for all four years?
- If I win a scholarship, do you reduce my financial aid package? If so, does the scholarship replace loans or grants?
For more information on financial aid and how to pay for college without going broke, see the links below.
