Can You Afford The College of Your Dreams?

This is the last post in our College search 101 series. We looked at everything from what you want to do for the rest of your life to whether or not the college of your dreams thinks you’re a good fit.

In this series, we discussed how earnings are affected by education level, the different types of educational programs available today, what kinds of colleges offer what types of programs, and even gave you a list of resources to help you find the right college.

Can you afford the college of your dreams?

It’s no secret that college costs are rising.

According to College Board’s Trends in College Pricing 2007, colleges in the United States increased their tuition and fees by an average of 4.2 – 6.3 percent for the 2007-08 school year.

Room, board, books, and supplies only add to the cost. Click here to calculate more complete college expenses.

Don’t let the expenses slow you down. Even though the numbers are daunting, there are many ways to get help paying for the college of your dreams.

What’s the best way to apply for financial aid?

According to a newsletter article from the National Association for College Admission Counseling called Focus on Financial Aid: How to Apply, the steps of the financial aid application process are:

1. A student applies for admission before the admission application deadline.

2. A student applies for financial aid in accordance with stated deadlines, but as soon as possible.

3. The admission committee meets and grants admission.

4. The college or university financial aid office reviews the application carefully, first to judge whether need does, in fact, exist, and second to determine how much aid should be offered.

5. The financial aid office, after determining how much aid in various forms is available for distribution, awards packages of aid to applicants according to need and within limits of the resources at hand.

6. Candidates are notified by the admission office of acceptance and, either at the same time or shortly thereafter, by the aid office of its award.

So, according to the NACAC, prospective students should apply for financial aid before they even know if they’ve been accepted to the college of their choice.

Ask the colleges you research to send you information on financial aid at the same time you request a college catalog and admissions information.

If you have unanswered questions about financial aid from the college of your choice, contact their financial aid office. There’s no charge for their services – they exist to help you pay for your education – take advantage of their help.

Need help finding the right college? Click to get started now!