Meeting.The.Cost.Of.College:
Like everything else, the cost of a college education continues to rise. Today it is a very expensive investment, and next year it will be even more so, in recent years college costs have more than doubled. Studnets can meet these expenses in a number of ways . Students earnings, loans and grants may supplement family resources. There is some kind of financial aid for almost any American student who can demonstrate need. Non-American students generally cannot receive financial assistance from any insitution, although some aid may be available after their first year of study.
Family Resources:
College exprenses are usualy met by relying on the normal family resources of savings or trust funds. Even when financial aid is offered, the family is exprected to pay for a large proportion of the expenses.For non-american students this will probably be the only means of paying, at least for the first year. immigration authorities generally require a statement from the parents of the applicant that there will be sufficient finanical resources to meet the expenses of all four years of study before a student visa will be granted
Canada
Studnet Earnings While in College:
It is still common practice for students to work their way through college, at least partially. It is estimated that more than a third of the students hold a part-time job during their school years, and nmany more work during the summer vacation months. Most colleges will help students find part-time jobs, often as a part of their financial aid package. A common student work load is ten to fifteen hours per week. Additional money can be earned through summer work. A number of colleges offer a work/study or Co-operative Plan program which enables a student to work alternating terms or semesters in cooperating firms. As well as being a form of practical education, this plan enables a student to earn some money
Financial Assistance in the Form of Loans and Grants:
If you are American and apply for financial aid from a college, you will probably have your need estimated by the College Scholarship Service System, ACT financial needs system of a similar company. Most of the colleges who have financial aid programs rely on these services to estimatte a student's financial need.
The financial aid system requires the parents to complete a Free Application for Federal Student Aid (FAFSA). Some colleges will also require the families to fill out the other financial aid forms in addition to summerize theri income assets, income tax totals, information concerning other children, and any special financial circumstances. The financial aid service estimates how much you and your famiy can reasonably afford to pay towards the first yera of your college education.
It should be point out again that financial aid from the college is generally not available to non-american students. It is also very difficult, if not impossible, for non-American students to find part-time or summer employment. Student visas may prohibit employment.
Loans:
Almost all colleges participat in some type of loan program. Their catalogues will indicate the funds available and the conditions under which the loans can be made. Banks, insurance companies and finance companiesmake lonas availbe for college expenses at high interest rates, and several insurance companies now provide for the continuation of the studnt's education ni the event of the death of the parents. Installment loans and installment plans fo tuition payment are also common.
Grants-in-aid- or scholarships are outright grants of money to help a student meet college costs. Relatively few students receive outhright grants-perhaps less than ten percent. Very rarely will a grant cover the major portion of one's expenses. They are more likely to average between $500 and $1,500. Financial need is the most important cfactor in qualifying for a grant. Very vew colleges now make grants avaible solely on the basis of academic merit, however, a fairly large number of grants made for non-academic abilites, such as athletics or music, do exist.
Grants are availbe from a large number of sources-companies, labor unions, religious orgnizations, education groups, fraternal organizations, and professional societies may offer financial assistance. Eligibility for these programs is usually resticted in some way to the membership or ares of interest of the sponsor. The colleges themselves award the larges number of grants. Colleges usually list in their catalogues the scholarships that they have available, and what must be done to qualify for them. Crants from business or indsutry are usually given to children of employees, and information can be obtained from repsective personnel managers.
Certain special scholarships are awarded on the basis of race or ancestry.