Don't let today's suffering economy stand in the way of your college education. You've come this far, it's time to put together a financial plan that will see you through your higher education. It won't be easy though. Traditional universities and online colleges alike have lost some of their scholarship endowments and families across the country have suffered unemployment and declining equity in their home values. It's time to be smart and look at all of your options. Here's how to start:
1. Get an idea of costs involved. The internet has many sites with current tuition charts that will give you a realistic picture of how far your savings will take you. Remember to compare all of the public and private schools that you are interested in. You can also use the web to find financial aid calculators to see if your family might be eligible and estimate how much help you can expect to receive.
2. Don't be afraid to apply to many colleges. Granted, times are tough, but each university has a different level of available scholarship money. What might not work for you at a public school might actually come through at a private school, for example. As such, don't pin your hopes on just one or two schools and be open to new ideas.
3. No matter how much money you have put together, look into financial aid. Period. You might be surprised at the help you can qualify for. Get your hands on a FAFSA (Free Application for Federal Student Aid) and start the process right away. While every school requires different forms, the FAFSA is widely accepted.
4. Loans are still available. Don't let the fact that there's a nationwide credit crunch prevent you from applying for a student loan. The rates are better for you than they would be for your parents. Make sure that any loan that your family considers has a fair interest rate and no hidden terms.
Once you've added up your savings, aid, scholarships and loans, don't stop there. Don't rule out working for a year before you start if need be, or living at home the first year and starting at a community college. Your future is at stake, so be a little creative when putting together a financial plan that will make it happen. Then, work your tail off.
1. Get an idea of costs involved. The internet has many sites with current tuition charts that will give you a realistic picture of how far your savings will take you. Remember to compare all of the public and private schools that you are interested in. You can also use the web to find financial aid calculators to see if your family might be eligible and estimate how much help you can expect to receive.
2. Don't be afraid to apply to many colleges. Granted, times are tough, but each university has a different level of available scholarship money. What might not work for you at a public school might actually come through at a private school, for example. As such, don't pin your hopes on just one or two schools and be open to new ideas.
3. No matter how much money you have put together, look into financial aid. Period. You might be surprised at the help you can qualify for. Get your hands on a FAFSA (Free Application for Federal Student Aid) and start the process right away. While every school requires different forms, the FAFSA is widely accepted.
4. Loans are still available. Don't let the fact that there's a nationwide credit crunch prevent you from applying for a student loan. The rates are better for you than they would be for your parents. Make sure that any loan that your family considers has a fair interest rate and no hidden terms.
Once you've added up your savings, aid, scholarships and loans, don't stop there. Don't rule out working for a year before you start if need be, or living at home the first year and starting at a community college. Your future is at stake, so be a little creative when putting together a financial plan that will make it happen. Then, work your tail off.