College tuition is expensive, and that is underselling it when it comes to the tuition fees of private universities. How can your family fund a college education for one or more children? Here are three tips.
- FAFSA – Be sure to fill out the Free Application for Federal Student Aid. This is a way to acquire free grants, student loans, and certain scholarships. There are some years where more than $2 billion has been left unused from the federal funds set aside for this, so don’t skip filling out the application just because you think someone else may need it more. There is plenty to go around.
- Federal loans – Private student loans can have a heavy interest rate, and there are rarely provisions to help if you are struggling to pay them back after school. Federal student loans have a lower APR, and there are programs that allow you to reduce your monthly payments based on your income.
- Negotiate – Has a university offered you some financial aid based on merit or need? Contact the school to see if they are willing to increase the amount of aid being offered in order to be sure you can go to their school. You will find out just how bad they want you right away if they increase the amount.
Your Source for College Admissions and Financial Planning
College Planning Source in southern California helps students prepare for college by means of admissions and financial planning. To learn how we can help you, give us a call today at 858.676.0700, or you can contact us online.
