Pay For College Essay

1386 Words 6 Pages
The price of education is at an all-time high and with that being said, graduates are leaving colleges with more debt than ever. Expenses start even before the first day of classes for a freshman. Each year students have to pay for all the essentials that come with living in the real world and away from parents. Students who have to pay for all or most of this on their own, become stressed with the thought of paying for 4 years of education. That is where planning and finances come in hand. This essay will go through that actual cost of what it is like to live in college and how to pay for all the expenses that come along.
The University of Miami located in Coral Gables, Florida, 20 minutes from South Beach, but still has a suburban feel.
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There are many ways to pay for college. A lot of students who have trouble paying for college will receive some financial aid. The University of Miami gives out about 78% for need-based students, and an average amount of $14,000. In order to reside financial aid, the free application for federal student aid needs to be completed and sent to the university. Schools hsvr to financial aid package that works for that individual and their family. Some financial packages do includes loans, but that does not mean that a student has to borrow the full loan amount that the package offers. Another type is the federal parent loan. This is away from parent to borrow money for their children. The last resort should be a private loan from a bank or any other financial institution because they generally come with more interest (“Pay for College”). Student loans are considered good credit due to the fact that there are lower interest rates compared have these loans a payoff in the end (Shin). Many students can also revise scholarships. A merit-based scholarships mean they are based on academic achievements and sometimes special talent, and others on financial need. There are scholarships for all different types of people. There are many places to find scholarships and there are many out there to apply for. Generally, there are scholarships for almost anything, so students can get some money for their interest or activities. In addition, many colleges/universities do have work study programs or jobs on campus. Any extra money can help with the cost of education and living. It becomes obvious, there are many ways to pay for

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