Paying for college or a graduate degree is expensive. Whether you are sending your child to college or financing your own education, there are a number of options you should consider. Start with research to identify scholarships, grants, and other sources that will pay a portion of the tuition for you. Then, research the financing options available, and be sure to understand the repayment options before you borrow.
When choosing a college, an important consideration is the cost of tuition, room and board, and fees.
- Schools provide the total expected cost to attend so you can compare. The information is generally provided on the school’s website.
- Consider a state school or community college for the first two years, as they are generally less expensive than private colleges. Many private colleges accept transfers from state or community colleges, saving you tuition and allowing you to earn a diploma from the private school.
A number of good resources, including government resources, are listed below.
Having a financing plan before enrolling is essential.
The first thing you should know is your student loans are not likely to be canceled or discharged! You must repay a student loan even if finances are difficult. If you don’t make your monthly loan payments, you will risk becoming delinquent and risk going into default. The good news is that there are a number of repayment options.
We've done some of the research for you, here is a list of websites to help you along the way.