Financing
Paying for community college can be overwhelming. Use the tools, resources and tips within this section to help you finance your education. From student loans to scholarships, we’ll cover the most common financial aid options available to community college students. Get money saving tips, learn more about Pell grants, and explore the federal work-study program.
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Education becomes more expensive with each passing year so it is important to make smart use of your student loans and to minimize your debt while you are in school whenever possible.
Many people will tell you that you can’t get a good job without an education – a college education. Unless you are lucky enough to receive a generous scholarship or help from family, you may be left paying for school on your own and you may need to take out a few student loans – or a lot of them. Unfortunately, the cost of tuition continues to rise each year and the average salary for an entry-level job just isn’t enough to pay off student loans for many people. If you are thinking about starting school, or if you already have, do yourself a favor and follow some of these simple tips for minimizing your educational debt while you are in school so that your loans are more manageable when you graduate.
Shocking Student Loan Statistics
According to the most recent reports for 2016, the total amount of student loan debt in the United States is about $1.23 trillion and that number is divided over more than 43 million Americans. The average graduate for the class of 2016 will be graduating with more than $37,000 in student loan debt – that number is up by a full 6% from last year. When it comes to student loans, there are a wide variety of different types and each type of loan has its own interest rates and rules for repayment. Direct loans make up the largest chunk of student loan debt with a total over $840 billion divided over nearly 30 million
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Tuition expenses continue to rise each and every year, forcing students to find ever more creative ways to raise money. In this article you will find plenty of creative ways to raise money for school.
Learn how to earn money for community college tuition.
The average published yearly tuition for a private 4-year college is about $31,000 and, for a public university it is about $23,000 for out-of-state students. For many people, paying this much for college simply isn’t possible – the cost of tuition in many cases is more than the average person makes in a year. For this reason, more and more students are turning to community colleges because they are generally more affordable than traditional 4-year colleges and universities.
Even if community college is cheaper than traditional 4-year schools, tuition is still a major expense. Many students take out loans to finance their education but they are still left with the cost of books, supplies, and fees. If you are struggling to pay your community college expenses, you will be glad to know that there are some options out there that don’t involve taking out more loans.
Money-Saving Tips Before Enrollment
To ensure that you save as much as possible on community college tuition, there are a few things you can do while you are still in high school. For one thing, you should take full advantage of any opportunities you have during high school to earn college credits – this may include taking Advanced Placement classes so you can skip low level college courses. You should also keep an eye out for scholarship opportunities. Many charitable organizations offer scholarships that can help you save money for college even if you don’t qualify for need-based aid. Talk to your school counsellor to see
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President Obama recently introduced a plan to deliver free Community College tuition to all Americans across the country. Is it the right call?In this story, we will not attempt to make a judgment call on whether free Community College is right or wrong for the United States. Instead, we paneled a few experts in education and economics to get their take on the issue. We’re showing both sides of the coin, and letting readers decide on their own.
Last week, President Obama introduced a plan to deliver free Community College tuition to all Americans across the country. Is it the right call?
In this story, we will not attempt to make a judgment call on whether free Community College is right or wrong for the United States. Instead, we paneled a few experts in education and economics to get their take on the issue. We’re showing both sides of the coin, and letting readers decide on their own.
The Case for Free Community College
Democratization of Higher Education
The biggest supporters of Obama’s plan laud the proposal as a right step in the right direction toward a more equal democracy. One such organization, University of the People, offers tuition-free degrees to many students who would have been shut out of the opportunity to attend college otherwise. Founder and President, Shai Reshef says, “According to the proposed plan, students could save an average of $3,800 a year. It is known that the average student spends as much as $1,200 each year on textbooks and supplies alone.”
Rasheen Carbin, Co-founder and CMO of career app nsphire, says Obama’s plan is the right step for America. “As we all know, the price of college has skyrocketed. We also know, having a Bachelor’s degree adds about a million dollars to your lifetime earnings.” Rasheen is adamant that free community college can lift a burden on lower-income families, and close the gap between poor and wealthy classes in the U.S.
“College is still a very elite institution.
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Are you taking full advantage of scholarships? Use these 7 smart tips when applying for your scholarships, whether need or merit-based awards, as well as those for individuals from certain ethnic, religious, or socioeconomic groups. Increase your chances of being awarded scholarships!
Getting college scholarships is a process that involves much more than filling out applications and writing essays. There are both practical and creative steps that must be taken that can help you win as many scholarships as possible. As a current or future community college student, you’re already one step ahead by choosing a school that is far less expensive than four-year or private school options. With a little work, you can make your community college expenses even less.
It’s never too early to start searching for scholarships. As surprising as it may sound, there are many college scholarship programs available for students in their freshman, sophomore, or junior years of high school, as well as for students in elementary and middle school! That being the case, waiting until your senior year to locate and apply for scholarships puts you at risk because you could be missing out on all kinds of scholarship opportunities.
It’s also vital to start your scholarship search early because it’s a time consuming process and one that requires a healthy commitment of time and energy. Each application will have its own unique requirements, and the time it takes to gather transcripts, letters or recommendation, and other required materials can be up to several weeks. And while there are thousands of students who receive scholarships each year, not everyone will get something in return for all their hard work on their application materials. Although it can be discouraging to not receive
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Although a community college education is inexpensive when compared to tuition and fees at a four-year institution, some students still need financial assistance to pay their education bills. Yet, some community colleges don’t participate in the federal student loan program, putting some students in a financial bind.
Community colleges offer a cost-effective means for students to obtain a degree or certificate or complete the first half of studies required for a bachelor’s degree. Because they are so affordable – annual tuition and fees average just under $3,500 – many students do not need to take out student loans in order to pay for their expenses. Some students live at home or take public transit to further lessen costs, while others attend part-time and work so they can avoid taking out loans and instead pay for their schooling out-of-pocket as they go.
However, some students don’t have the luxury of depending on mom and dad for free room and board, money for textbooks, or gas money to get to campus. For those students, the additional costs of attending a community college can add up: When all fees, room and board, and textbooks and supplies are added in, the average annual community college expenses rise to $15,000. Federal student loans provide a lifeline for many students who would not otherwise be able to afford these expenses, minority and socioeconomically disadvantaged populations among them. But for a million students nationwide, federal student loans are not an option because their community college does not participate in the federal student loan program.
Opting Out
At first glance, it may seem counterproductive for a community college not to participate in the federal student loan program. After all, more available financial aid means more students are able to enroll in courses, thus helping that institution’s
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