The Worthwhile Costs of Education

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You and your family might have discussed the costs of going to college. Earning a college degree can be quite expensive and the costs rise each year. To get an estimate of what it would cost you, contact the college you would like to attend and determine the cost of attending for one year. Multiply that by the number of years you expect to attend. Factor in yearly cost increases and the likelihood that it will take longer than four years to earn your degree.

Because college can be so expensive, many students seek financial aid to help pay for expenses. You can earn scholarships through academic or athletic achievement to help cover a portion of your educational expenses. You may have to pay for some or all of your education with loans. As an example, for those students who borrowed from the government, the average federal student loan debt is now approaching $30,000.

Ask your school counselors about scholarships. Numerous scholarships are available, for different amounts. Also, some philanthropists provide scholarships and grants. Apply for all scholarships and grants for which you are eligible, no matter how small. Every little bit helps. This is especially true since any funds you receive from a grant or scholarship would lessen the amount you might need to borrow for your college education.

See the References section for sources where you can find information about financial aid. Be sure to get your parent’s permission when you use the Internet as a resource. Additional information about financial aid is available at the library or from your school counselor. Investigate all possibilities. Most of the information can be obtained for free.