College Crunch

One issue currently hitting students hard is the combination of high tuition prices and a bad job market. It is leading many students to look at their post-secondary educational needs long and hard.

Recently, a student, applying to Notre Dame received a big envelope which included information on the overall annual price he’d have to pay, and that number came to $51,000 per year: a number that is much more than the annual salary of many University graduates.

While people don’t want to go to the “cheapest” school, the price is more of a concern than ever before. Out of state options are difficult because of travel prices being so high, and moving is a logistical nightmare.

There aren’t many easy options for students entering College this far. Even the Free Application for Federal Student Aid, FAFSA, has seen a 20% increase in requests over last year. This means higher competition for those student aid dollars.

Students and parents would be wise to contact the schools they are planning on applying to and ask what plans they have in place for financial aid, what programs, bursars and other support options are available, as schools are scrambling to make sure that they can find spots for students unable to easily cope with the total cost of tuition, books, and more.

Thankfully, schools, including those like Stanford, are working on bolstering their financial aid packages, and those that do, are seeing a higher number of applicants than ever before.

This year is going to be one of the most competitive years when it comes to attending a traditional brick and mortar college location, so file for financial aid early, contact the college you wish to attend and see what options they can offer, and don’t let limited finances stop you from attending school.

Remind yourself and those around you that post-secondary education is an investment. Once completed, if you’ve chosen correctly, there will be a job out there for you that will hopefully, quickly repay any debts accrued.