There’s more to the cost of college education than tuition rates
by My college Corner My College Corner provides webinarsCosts
of college education in the U.S. get a great deal of coverage because of the
alarming pace with which they are going up. But the rates that are generally
quoted as being the “college costs” are almost always associated with tuition
rates. In reality, there are several other factors that add to the costs of
college education.
So, how much
does college cost?
When valuing the cost of a
college, the tuition will no doubt be one of the largest costs, but not necessarily
so. The costs of books, room, and management are also involved. A good deal of
the living costs revolves around whether the student is living in on-campus or
off-campus housing. Some colleges actually call for freshmen or even all
undergrads to live on campus. This brings down the cost of housing, as utility
costs are included in the price. It also reduces transportation costs that
would have been incurred by commuting to campus.
Over
the last few years, the rate of incline in tuition costs has put the general
inflation rate to shame. Because of the exponential inclines, the costs have
become much more than many families can stretch to. Thankfully, there are a
number of alternative solutions for students to bring down the cost of college
education.
Financial
aid is now what one would expect at most colleges. Most private colleges have a
sizeable percentage of students being presented with some sort of student aid.
This can be awarded by the institution, backed by the college fund or by the
tuition paid by other students. It can also be from special grants or
fellowships, and/or from government-sponsored Pell grants.
Students
also must borrow money to pay for their tuition and living costs. Receiving
financial aid isn't always a grant or scholarship. More and more college
students now are requesting some type of allowance to finance their education.
To get a student loan, the student is considered supported by the income of the
parent until the student reaches the age of 24. Even if a student is picking up
the tab for the tuition without the help of a parent, the student aid
guidelines still pertain. If the income of the parents is within the range
determined by their college loans for parents’
applications, dependent on income, assets, and debt, the student is eligible
for credits as well as Pell grants. Using federal student loans in conjunction
with grants and scholarships has gone a long way to bridge the gap between the
amount many families can bear the expense of and the real cost of college.
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Created on Jul 3rd 2018 01:56. Viewed 588 times.