Pros And Cons Of High Cost Of College

The cost of college has caused significant discussion across America. Today, it is becoming crucial for high school graduates to receive a college degree. A high school diploma is no longer enough to provide Americans the skills they need to get a good paying job. By the end of this year, 65 percent of job openings will require a postsecondary education. However, rising tuition costs are putting college out of reach for many Americans. Rising tuition expenses are causing many college students to need assistance in paying for college because they can’t afford to pay. The tuition between public and private 2-year and 4-year colleges vary greatly. For example, in the 2016-2017 school year, a student attending a public 2-year college generally …show more content…
Due to the high college costs, many students are seeking alternatives to help them pay for college tuition. Some of the basic financial programs include the FAFSA, scholarships and private loans. Other alternatives include Pell grants, work-study jobs, and enrolling in a community college. Private loans are available to undergraduate and graduate students from finance-based institutions like Sallie Mae. They are perfect for filling the funding gap when savings, scholarships, and federal student aid aren’t enough to cover it. Private student loans are not sponsored and don’t require a student to fill out the FAFSA. They are instead credit based, which means a borrower’s credit score is taken into consideration along with other factors. Private student loans are applied with interest and need to be paid back within a certain time …show more content…
Scholarships are financial awards designed to help students pay for college. There are a variety of scholarships available for college students. Some scholarships are merit-based, meaning you earn them by meeting certain standards given by the scholarship-giver. A student can learn about scholarships in several ways including checking information in a public library, contacting their school’s financial aid office, or checking online scholarship websites. Scholarships can be paid at separate times throughout the school year and can be given to the student in a variety of ways. Sometimes a scholarship is awarded as a one-time check, other scholarships are renewable and provide students’ money each semester or school year. College students may receive this money as a check or it can be sent directly to the college the student attends. The excess money is refunded to the student. Scholarships come from a variety of various sources, including clubs, organizations, charities, foundations, businesses, and