With our wonderful seniors being accepted into multiple colleges, the pressure of deciding where to go is felt by many.
Some have their dream school, and once they’re accepted, they’re going. Point blank period. Others have many schools on their list, and in the end, the decision comes down to which school is their best financial fit.
Loans, income from jobs, college funds, grants, and scholarships are some of the ways students pay for their college education. Each student is under different circumstances, and even if they’re using the same way to pay for college, many factors can affect how much a student receives and would have to pay in the end.
Shortly after receiving college acceptance letters, financial aid award letters are sent out. The letter breaks down the costs of attending the school (like tuition, fees, and indirect costs) while clarifying which funds the student receives and would have to pay. This letter is unique to each student’s circumstances and is used to compare their financial packages among schools and see which school they would pay the least for.
For STEM senior Samuel Jimenez, he says, “The cost of university is not going to affect my decision on where I end up going, even if it is very expensive, I will find a way to work with it.”
Jimenez has recently gotten accepted into UCLA (#GoBruins) with a full ride, but is waiting to hear back from USC on how much money he will have to pay. Even though he got a full ride to UCLA, USC has a better program for his major, so he wants to wait it out and make that choice that feels right to him.
When thinking about how to pay for college, FAFSA will be the primary source financially due to his own circumstances. Though for others who don’t receive much aid, forms of payment like scholarships are a highly praised source for many.
Scholarships are a frequently emphasized way to pay for college since you can always find one that fits your needs.
SAS Senior Jaymin Kim is committed to Boston College and shares what circumstances went into deciding how to pay for college. Kim says, “Coming from a low-income family, it was necessary to find a way to attend college at either a low price or free.”
Boston College has a tuition cost of around $73,000, but luckily for Kim, he received the Questbridge Match Scholarship, which gives full rides to students who fit the qualifications of the program. Finding scholarships or, in this case, non-profit programs, that fit your needs is a great way Huskies plan to pay for college!
For many who don’t know where to go or how much aid fits their circumstances best, tools for this come in handy when making your final choice. HGM senior Nola Sherod is committed to the University of Chicago and is one of many who used tools to plan her path after high school. Sherrod quotes, “ I used the financial aid calculator and called the financial aid office before I committed!”
By doing this, Sherrod was able to calculate the amount she would receive from a school and how much she would have to pay. Also, by calling the financial aid office, students are able to request a change in their financial aid to help fit their circumstances the best.
Aid calculators are especially useful in situations where you apply early to schools and haven’t received your financial aid award letter just yet. This tool is also very helpful when figuring out where you want to apply if cost is a big factor in where you want to attend!
No matter the way you are planning on paying for college, there is still stress in figuring out how to pay for other expenses. Some students look into work study, which is a federally funded financial aid program that provides part-time jobs to students.
Work study jobs are usually on campus, and if you’re looking to work during college, work study is favored since they know you are a student and can be lenient about your schedule. Senior Ximena Meza is looking into work study and quotes, “This balance will help me stay on top of both my responsibilities and my academic goals without becoming overwhelmed.”
There are many advantages that come from work study, but one disadvantage is that work study is usually awarded through your financial aid letter and is need-based, meaning not everyone is eligible for work study.
Other ways to pay for your expenses throughout college are through paid internships. Students usually find internships that have to do with their major or future career path that allows them to gain experience while getting paid.
When asked how she plans to support herself throughout school, Sherrod shares her interest in working during college and says, “I am planning on trying to find paid internships to further my career.” Looking for these opportunities later into your time in college can be beneficial to many, since it can be difficult to manage a rigorous school schedule with a demanding work schedule.
There is much information that is kept from applicants when deciding where to go, which is why it is important to do your own research and put matters into your own hands.
There are many ways to pay for college, and the “right way” won’t always be right for you. Doing your own research and realizing what you do and don’t want to do for college is always important before committing to a school and to a type of payment.
