Getting a college education is undoubtedly expensive, with the nation’s top private universities having an average tuition of $200,000 for four years. Skyrocketing tuition, however, won’t stop students from pursuing their dreams and building their careers because they can seek financial aid to get through college. This financial aid package comes in the form of the Free Application for Federal Student Aid, or the FAFSA.
With the help of FAFSA, families of college-bound kids can get financial aid to help them in getting quality education. Most parents will want to know how to get the best financial aid packages, but are daunted by the seemingly complicated process of applying for it. Contrary to popular belief, filing for FAFSA doesn’t need to be complicated, and you can even get more free money for college if you’re able to follow these tips in getting a better deal.
Financial aid can help much when you’re putting your child through college. With rising college fees and costs, however, it is progressively becoming harder. Seven years ago, the average cost of a year’s stay at a four-year institution was $19,362. The costs now would be even higher, and that’s why you’ll need the help of experienced college funding advisors to ensure that you get the most out of the available financial aid out there.
The most basic financial aid program that you can apply to is the Free Application for Student Aid (FAFSA) program. It also forms the basis of how much financial aid various colleges award their students. Some colleges even make it a requirement when you’re applying for financial aid; for some scholarship programs, a rejection for financial aid is even a requirement. This is why it’s important to get your FAFSA application out of the way as quickly as possible.
College costs are not getting any cheaper and the rising amount of student debt is still a concern among many. This is why families with children who are bound for college should get help from providers of reliable college funding services like The Studemont Group College Funding Solutions, LLC and apply for the Free Application for Federal Student Aid (FAFSA) to get them the best chance for financial help.
Tuition fees are still rising, and according to The College Board, “the average 2014-2015 tuition increase was 3.7 percent at private colleges and 2.9 percent at public universities.” This is why it has become more important and worth it to apply for the FAFSA—and this goes for families from all income brackets.
Sending children to college is something parents both want and dread at the same time. Sure, your kids have a better chance of finding a career in the future, but the cost for higher education is something that can make you think about crippling debt. A typical college education is worth thousands and thousands of dollars and that is only for one child. Multiply that by the number of your children and you’ll find yourself in a pretty pickle. Thankfully, trusted advisors such as John McDonough of The Studemont Group have some college funding services can help your kids go to their dream schools without breaking the bank.
As reported on CNBC.com, during the Inc. GrowCo conference in Nashville, TN, businessman and Dallas Mavericks owner Mark Cuban proposed putting a $10,000 limit on student loans to limit student debt, which now stands at a staggering $1.22 trillion. He said this would hopefully urge universities and colleges to control their spending and lower tuition fees.
At first glance, Cuban may well be earning the ire of cash-strapped Americans. A 2013 report by College Board puts the average expenses for a four year course in a private university at $30,094, excluding room and board; and $8,893 for in-state students at public institutions.
Data from the Pew Research Center, featured in the same article, also backs this up, with numbers citing that college grads are still bound to earn more—making about $17,500 more on average as opposed to their high school graduate counterparts. Other analysts also echo this sentiment, standing by the assertion that graduating from college still has its merits, mainly because opportunities for degree holders will expand exponentially as the economy continues to recover.
Moreover, Pew data further claim that once employed, college graduates are more likely to be optimistic of their jobs than their peers with a high school diploma. About 86 percent of Pew’s respondents said that they look at their current job as a stepping stone to a lengthy career, in comparison to 57 percent among their counterparts with less schooling.
“As a single parent, the financial burden you face can be too overwhelming. With the financial aid provided by a scholarship, you may afford to send your child to college without having the opportunity adversely affect your personal funds. The scholarships above are only four of many that are specifically designed to fulfill a single parent’s goal of putting their kids through college. There are plenty of other scholarships provided by your state and local government, other institutions or agencies from the private and public sectors, and nonprofit organizations.
The need for a college financial advisor
Consulting with college financial advisors, such as John McDonough of Studemont Group College Funding Solutions, LLC, is a must if you want to know how to maximize financial aid opportunities around you, and minimize your out-of-pocket expenses. Apart from helping you select the right scholarship, these advisors can also help you identify the right college, fill out and submit for