The topic of the high cost of tertiary education in the United States has long been a societal concern. Now, it’s made more complicated by the ongoing coronavirus pandemic. According to reports, some incoming college students are already growing concerned about whether or not they can still afford to go to school in the coming school year.
In fact, a survey done by Nitro College on 6,500 high school seniors has found that more than half of students said that they were financially impacted by the coronavirus. Likewise, their parents were also worried about helping their kids pay for college while they’re furloughed from their jobs. Here are some options they can turn to finance their education.
Financial Aid Options
Almost all families with a child going to college admit that they find it necessary to get financial aid to pay for their tuition, according to The Princeton Review. That said, parents, as well as students, are advised to file for the Free Application for Federal Student Aid (FAFSA). Those that have already done so before the coronavirus pandemic should consider amending their application to reflect their current situation, especially if they just lost their income or experienced a death in the family. They could also directly contact a university’s financial aid office to ask for a judgement review and appeal for more aid.
Scholarships & Grants
Of course, students can also look for scholarships and grants they qualify for to cover a portion of their tuition. Over 8 in 10 families reportedly go this route and it’s not surprising since getting aid that isn’t debt is more preferable. One problem incoming college freshmen will encounter though is that it might be too late to apply for some scholarships at this time. Still, they should continue looking for potential grants from organizations working in their community. Applying for something close to home might increase the chances of one getting assistance.
School of Choice
Considering the economy’s current state, more students might opt to enroll at more affordable public schools instead of private universities, which are generally more expensive. It would also be wiser for them to go somewhere not too far from home to save on living expenses. Another option is starting out at a community college instead of a four-year college. Doing so would allow them to acquire credits for two years at a fraction of the cost and then transfer to a regular college to finish one’s degree.
