THE REALITY OF COLLEGE TUITION AND FINANCIAL AID

Information from this post was taken from www.collegeboard.com.

There is now officially no way of avoiding price increases, especially those in higher education. Some schools not as much as others and we can’t really accurately predict this, but keep in mind that there are just very few institutions that keep their tuition at the same amount for more than one year.

Don’t go bankrupt for college. Believe it or not there are a lot of colleges and universities, both public and private, that charge less than $10,000 per year. Only a small percentage pay more than $36,000 a year. But, it can be deceiving, so below is a list of typical prices and costs for two-year and four-year colleges.

Keep Increases in Perspective

There’s no escaping the fact that college prices are rising. According to recently released reports from the College Board, most students and their families can expect to pay, on average, from $172 to $1,096 more than last year for this year’s tuition and fees, depending on the type of college.

But there is good news. There is more than $168 billion in financial aid available. And, despite all of these college price increases, a college education remains an affordable choice for most families.

Sticker Price vs. Affordability

Although some of the college price tags you hear about can be quite daunting—$35,000 or more for yearly tuition and fees—most colleges are more affordable than you might think. For example, did you know that about 53 percent of students attend four-year schools with annual tuition and fees below $9,000? After grants are taken into consideration, the net price the average undergraduate pays for a college education is significantly lower than the published tuition and fees.

And remember, other forms of financial aid will further reduce the amount your family will actually pay.

Average College Prices 2009-10 But Did You Know That…

Private four-year $26,273 (up 4.4 percent from last year)Public four-year $7,020 (up 6.5 percent from last year)

  • About 19 percent of students enrolled in private four-year colleges attend institutions that charge tuition and fees below $18,000.
  • 32 percent of full-time students enrolled in public four-year colleges and universities attend institutions that charge tuition and fees between $3,000 and $6,000.
  • While private four-year institutions have a much wider range of tuition and fee charges, only about 20 percent of all students attend colleges with tuition and fees totaling $36,000 or higher per year.

Public two-year $2,544 (up 7.3 percent from last year)

  • 31 percent of all full-time students attend public two-year colleges.

Students will pay, on average, from $377 to $420 more than last year for this year’s room and board, depending on the type of college.The average surcharge in for full-time out-of-state  students at public four-year institutions is $11,528.

  • More than $168 billion in financial aid is available to students and their families.
  • About two-thirds of all full-time undergraduate students receive grant aid. In 2009-10, estimated aid in the form of grants and tax benefits averaged about $3,000 per student at public two-year colleges, about $5,400 at public four-year colleges, and about $14,400 per student at private four-year colleges.

Note: Cost and aid figures are from the College Board’s Trends in College Pricing 2009, Trends in Student Aid 2009, and Education Pays 2007. Learn more online at College Board’s Trends in Higher Education website. This is merely a guide of the increases. Always ask your college of choice exactly how much everything will cost. Ask them for a detailed “invoice” of prices and services.

Also, don’t forget to check out related posts to this article that I have below. These articles provide you with specific instruction, tips and deadline dates regarding financial aid.

Take some time to read through these quick and easy to read links, and gather the necessary requirements and deadline dates specific to each state.

SUBSIDIZED, UNSUBSIDIZED, STAFFORD, PERKINS…WHAT’S THE DIFFERENCE?

 

 ALL YOU NEED TO KNOW FOR THE FINANCIAL AID TO FLOW

 

 YOUR FINANCIAL AID NEED-TO-KNOWS

 

(FAFSA) FEDERAL STUDENT FINANCIAL AID DEADLINES

 

 These posts will guide you through a much easier method in securing money for college, and beyond.

I’ll continue to share what I find out or know. If there is anything you’d like to add, please comment to this post anytime. I’d love to hear from you!

Your Success is My Success,

Keith Lipke

 

 

Keith Lipke is a careers and college recruiter, coach, mentor and blogger at     The Hope Chest. His passion is to educate, inspire, and give hope to young people who need it upon their search for the right career and college.

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