How Much College Tuition Can I Afford

How Much College Tuition Can I Afford? Calculating How Much College Tuition Can I Afford? Before you put off going back to school because it's "too expensive", "too large of an investment" or "it takes too much from the family finances", look at all the options. Too often we think it's too expensive, when the reality is, that it will cost you more in the long run not to go back to school, than it will to take advantage of a higher education and enhance your career prospects. Related Articles Should Governments Help Pay for College Should Governments Help Pay for College What Is a Good EFC Number? What Is a Good EFC Number? Scholarships for a Kid with a Deceased Parent Scholarships for a Kid with a Deceased Parent One thing everyone can do to make college more affordable is submit a FAFSA application. When you apply to FAFSA, you can access money via Stafford Loans and other financial outsourcing to help you pay for college. All students, whether they are 18, 48 or 68, have definite amounts of money they can access under law to help finance an education. These federally subsidized loans mean you won't have to pay an exorbitant interest rate and you are not required to have good credit. The law provides you, the student, with varying amounts depending on our class standing. For example: Freshman: $2,625 Sophomore: $3,500 Junior: $5,500 Senior: $5,500 Graduate student: $18,500 Now those amounts may not seem like much. However, if you start off by attending your local community college for the first two years, you can make those freshman and sophomore funds stretch quite a bit. You still have access to scholarships, private loans and your own income. In some cases, employment subsidized education is another option. If you go back to school for something that will make you better at your job, your employer may pay for it. Military service is another option that can help you pay for your own education. You can serve your country, learn a multitude of skills, make a wide variety of contacts and gain access to a college education through the G.I. Bill. You have a lot of options, if you choose to take advantage of all of them.