February 28, 2009
Don’t be Misled: College is Affordable
Unfortunately, current economic conditions are leading families to believe that college is not affordable.
The reality, however, is that they can. In fact, there is a lot of good news for students and families worried about college costs.
First, virtually all colleges, universities, and professional schools, including those offering online degree programs, are making concerted efforts to be as affordable as possible. Some have voluntarily frozen costs and/or cut budgets. Others have tuition limits imposed by state law.
Because colleges are well aware of the financial difficulties students and their families are experiencing, most have redoubled their efforts to raise money for scholarships. And, for the most part, they have been highly successful.
The U.S. government is also doing more to help, with significant increases in both grant and loan programs. Online college students, who not too long ago were eligible for just limited financial aid, may now qualify for almost all available loans and grants.
And, there is help from many states as well. Some offer achievement-based and/or financial-need based scholarships. And, some state colleges and universities offer in-state tuition to students from contiguous states and/or high-achieving out-of-staters.
Tuition installment plans, once offered at only the highest-priced colleges, are now much more widely available. Most include free insurance that will cover college costs in the event of a parent’s death. And, there are no origination or interest charges for the plans.
Students should also take advantage of the many free scholarship search sites, and the help available in high school admissions and financial aid offices. There is no reason to give up on attending college, regardless of the health of the economy.
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