Essay On Financial Planning For College

Great Essays
Financially Planning for College (a.k.a crushing dreams)
To get a decent paying job in the United States, college is a requirement. However, a quality education that would lead to a higher paying job isn’t always affordable to students across the country. I myself am facing the same daunting question of ‘how do I pay for college’. College loans are a crippling factor when it comes to financially planning the rest of one’s life. Many are finding it difficult to repay their debt. So the trick is for upcoming college students to find a way to gain a solid college education without paying for most of it. The three colleges I am thinking of attending all offer various financial aid and land me in different financial situations after college. My grandfather has done me a wondrous advantage and has been saving for me to attend college since I was very young. There is limited
…show more content…
If tuition gets covered, the expenses could potentially turn into issues of day to day living and traveling home. If I choose to go out of state somewhere, it could become an issue to travel home without purchasing a car of my own or a plane ticket. The other pieces is without the Daniel’s Scholarship to make up for the differences, my out of state options may prove to be obsolete. However, I don’t have all the financial information yet from all of my college options. My mother won’t be able to fill out the FAFSA until around February. Without that, colleges are unable to put together an accurate financial package for me. Looking at these numbers has made me realize how expensive college really is and how much money I could potentially end up owing in loans. However, I have also discovered that I can’t make definitive statements about by college choices until much later in this game we play. Until I have to be faithful that God will pull everything together for

Related Documents

  • Superior Essays

    Almost every family in the United States in some way has had a talk about college and its tuition. In some instances, the conversation has led to a “Sorry, but we cannot afford it.” However, the costs of college tuition are escalating at an all-time high. With rising tuition costs, a fixed…

    • 1227 Words
    • 5 Pages
    Superior Essays
  • Improved Essays

    Having a great education is beneficial to have In the long run. It helps you with finding better-paying jobs; apply the skills you learned from college into your career and shows employers that you are capable of being trained to work on the field. But on the contrary, the cost of getting a college degree is becoming more expensive. Although paying through scholarships or having a family with disposable income makes it more accessible, the majority of students pay off their tuition with federal loans. Consequently, after students graduate, they end up with tremendous loan debt and has to pay it after a couple months.…

    • 158 Words
    • 1 Pages
    Improved Essays
  • Improved Essays

    How can students fund their college education? “Figuring out how to pay for college can be difficult and confusing” (Source 1). However, many people believe paying for college can be very stressful and leave them in debts. As the world becomes more advanced companies and people have started to grant students with rewards or loans to help pay their college fee. The purpose of this essay is to inform you about the different ways in which students can pay for college education.…

    • 402 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Imagine a world where furthering an education after high school was simple and obtaining a degree was free. That would be every college student’s dream, right? Unfortunately, today colleges do not just let students walk out clear from any debt. Whether an individual is going to a four-year university or a two-year school, it is going to be rather costly in the end. Before deciding to go to Rowan College at Burlington County, I had hopes of attending a regular four-year school.…

    • 1080 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Most students end up going to very expensive schools and get up to their eyeballs in debt. According to the Institute for College Access and Success, “Seven in 10 seniors (68%) who graduated from public and nonprofit colleges in 2015 had student loan debt, with an average of $30,100 per borrower. This represents a 4% increase from the average debt of 2014 graduates.”…

    • 885 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    College And Debt Essay

    • 1564 Words
    • 7 Pages

    College is a source where students get the golden ticket of their dreams. A lot of high schoolers might have a dream to attend college one day to gain more knowledge but to get higher degree one might need a lot of money, and colleges will give chances where people can take loans but when it leads to debt it can be worrisome. According to the Journal of Financial Counseling and Planning (Volume 27) , “Going to college without enduring student loans is impossible and most students do not know much of what they will be repaying”. Attending college is profitable but the debt makes it very tough. An article by Joel Elvery, an economist in the Federal Reserve Bank of Cleveland indicates that “Americans owe nearly $1.3 trillion in student loan debt, spread out among about 44 million borrowers”.…

    • 1564 Words
    • 7 Pages
    Improved Essays
  • Improved Essays

    Student Debt Essay

    • 769 Words
    • 4 Pages

    Millions of post-grads find themselves with student-loan debt in amounts that are outstanding. While the Pell Grants and other forms of aid exist, balances amount so high that students find them paying them off near their later years in life such as fifties or even sixties. Many claim that jobs acquired after attending college to not supplement enough for a successful lifestyle and for payment of this debt. This leaves many to question the the worth of investing in a higher education. Does it pay off in the long run, even with tremendous student debt?…

    • 769 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    In today’s American society, the average college graduate leaves college with a whopping $37,172 in student loan debt. Crippled by constant payments, many struggle to keep up with payment plans. On top of that, federal student loans encompass an interest rate, which has a limit of 8%. Because the interest rates are so high, graduates can end up paying double the original loan amount. Coming from a large family, I have had first hand experience with the effects of student loans, and what it can do to a blossoming individual looking to start a new life.…

    • 822 Words
    • 4 Pages
    Improved Essays
  • Improved Essays

    Essay On Student Debt

    • 1075 Words
    • 5 Pages

    Though student loan debt is very real the risk and debt that comes along with pursuing a degree is ultimately the better option because “Those with professional degrees had a median income of $87,356, more than three times that for high school grads” (Matthews “Part II”). This realization forces students to take out loans despite its consequences because racking up debt is the only way to have any chance at a good paying job. The fact is, “because of the poor job market, young people may have less of a chance than ever to actually get a good job commensurate with their education” (Taibbi). For those who choose to pursue a 4 year degree and deal with the debt, still struggle afterwards for many years trying the manage the debt they accumulated, diminishing their purchasing power long after starting their career causing them to postpone all investment…

    • 1075 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Working at Network Ltd is a great pleasure for me. Since joining our company five years ago, I have had the opportunity to work in an engaging work environment, and nice colleagues. As an employee of our company, I am also aware of the company’s growth and development. Therefore, I think that the tuition reimbursement program (TRP) can be a breakthrough for our company. Why Network should implement a tuition reimbursement program?…

    • 823 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    One of the easiest ways to fund your college education is to apply for financial aid. If you qualify for financial aid, most of your tuition will be paid off and you do not have to pay back the money you received. You can apply for financial aid through fafsa.ed.gov. Another way of funding your college education is to apply as many scholarships as you can possibly can. You may not receive enough money from scholarships to pay off your school tuition, but you will get money from scholarships to cover your some you courses if you qualify.…

    • 358 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    Student Debt Essay

    • 1168 Words
    • 5 Pages

    Game of Loans Education should not be a debt sentence. However, according to Mark Kantrowitz in The Wall Street Journal, the average student this year will have to pay back more than $35,000 in student debt (Sparshott). Statistically, that is more than buying a new 2016 car or truck, which averages around $33,560. For a college student that is just graduating and makes less than 30K a year, that is outrageous!…

    • 1168 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Essay On College Tuition

    • 1308 Words
    • 5 Pages

    Since it might seem like an easy way to get money to pay for college tuition this one of the main reasons college students go bankrupt. Student loans are handled by the government and are only paid back after the person graduates from college at a fixed interest rate. Having college paid for and not having to worry about it sounds like the best idea ever. However, many recently graduated college students face the trouble of finding employment. If the recently graduated college student cannot find a job he will not be able to pay for the student loan.…

    • 1308 Words
    • 5 Pages
    Improved Essays
  • Improved Essays

    Financial Education Essay

    • 1111 Words
    • 4 Pages

    Research on financial knowledge and behavior indicates individuals in both developed and developing countries lack adequate knowledge to make informed financial decisions, especially subgroups like the young, women, and the less educated. When resorting to financial education programs, we can’t clearly figure out their efficiency. To expand our knowledge on the topic, we propose a financial education program with the treatment effect to test out its impacts on financial behaviors of young people. With long-term implementation, we hope to largely increase financial knowledge of young people and to shed light onto the effect in the long run. Facts about Financial Literacy Financial knowledge is especially important in times where increasingly…

    • 1111 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    Financial Planning Essay

    • 731 Words
    • 3 Pages

    QUESTION 1 Regulatory Framework of the Financial Planning Industry 1) “If a financial adviser is to give appropriate advice, they require a good knowledge of Corporate Law.” Discuss. Answer: There are a couple of aspects that require a financial planner to know about corporate law in detail.…

    • 731 Words
    • 3 Pages
    Decent Essays