With the costs of higher education on the rise, one of the biggest questions for high school students planning for college is: “How am I going to pay for it?” Don’t get discouraged. There are lots of ways to pay for college.
- Financial Aid
Financial Aid includes any money to help with college expenses and is awarded based on financial need. The Federal Student Aid (FSA) program from the U.S. Department of Education provides financial help to students unable to afford the entire cost of their college education. This program offers the largest source of aid in America and is awarded based on financial need in the form of grants, loans and work-study programs. More information about Federal Student Aid and how to apply can be found at http://www.federalstudentaid.ed.gov/.
- Grants and Scholarships
The great thing about grants is that they don’t have to be repaid. They are typically awarded based on an individual student’s financial need and are mostly awarded by the government or by individual colleges. Scholarships also aren’t repaid, but they are usually awarded based on merit.
- Co-Ops, Internships and Student Employment.
Need some money? Get a job! Living at home and getting a part-time job to help cover the cost of your expenses is a great way to pay for college. Work-study programs are also available to help students meet the cost of higher education, and also provide the added benefit of valuable work experience.
- Pinching Pennies - Managing Your Money
It’s never too late to start setting aside your pennies. If you’re a high school student with a part-time job, make every effort to set aside some of your earnings to help you cover your college expenses. When you get there, you’ll quickly learn that every little bit helps!
- Student Loans
Many college students use student loans as a way to cover the portion of their college expenses not covered by grants, scholarships, savings and other programs. They can be taken out by the student or parents and can come from a variety of sources government, college, or private sources.
- Look for Affordable Options
Consider the community college option. Get an affordable college start by taking your first two years of classes at Lorain County Community College. The cost savings will make a huge impact on your student loan debt when you graduate, and will greatly expand your educational possibilities if college expenses present a challenge.
For more information about Student Aid Programs at Lorain County Community College, visit www.lorainccc.edu/financialaid.
KnowHow2Go also provides some helpful information about your financial aid options, college costs, and specific forms of aid. For more information, visit http://www.knowhow2go.org/juniors_costs_financialaid.php.