|POCS Reality:||As college costs continue to rise, students and parents should know their costs and how to pay them.|
Financial services company Sallie Mae and global market research company Ipsos teamed up to find out How America Pays for College 2011:
What they found was American families believe in the value of a college education as an investment in students’ future earning potential. Students and parents found ways to make a college degree more affordable despite high college costs and a slow economy.
Following the Money to Pay for College: Sources Shifted from 2008 to 2011
|More $ from||Less $ From|
|Scholarships and grants||Parents|
|Federal education loans||Private education loans|
|**Cost saving measures||Attending without considering cost|
**Cost saving measures included eliminating colleges after considering cost, attending lower cost colleges including two-year community colleges, commuting and living at home, attending part-time, applying for financial aid, and filing for education tax credits.
POCSmom’s Insight: Add affordable schools in each category of your college list:
- safety (student qualifications exceed college admission requirements)
- target (student qualifications meet college admission requirements)
- reach (student qualifications almost but not quite reach college admission requirements)
Decide where to attend after comparing financial aid awards, calculating your college costs, and figuring out how you will pay them.
Here’s a chart to use to help you compare colleges offering admission along with financial aid awards:
*POCS: Parent Of a College Student