The reality is that college is expensive. At a time when parents’ stock portfolios are shrinking and the values of their homes are dropping, many students wonder if they will be able to start or continue their college education. Yet, at the same time, we see that a college education is important. A person with a college education makes 75 percent more every year than the person with only a high school diploma.

So, the question is how to fund the college education.

Colleges and universities charge tuition and fees to support their educational mission. Private colleges have to fund their entire budgets from their endowment plus these fees. Public schools get subsidies from the taxpayers which lower the cost of attendance for in state students.

Still, the price of college is rising. It costs 41 percent of an average family’s income to send a student to a private school!

But, the thing is, most students don’t pay the full face value of a college education. The truth is that up to 90 percent of students, even ones that consider themselves upper middle class, do receive some form of financial aid.

So, if you are worried about the cost of college but think you don’t qualify for scholarships, grants, and loans, think again.

Private universities are making more of their endowment monies available for scholarships and grants. States, while raising basic tuition and fees, are setting aside more money for grants. There have even been modest increases in the amount of the Pell Grant, the federally funded grant program.

Here’s some ways to find a scholarship or grant that is right for you:

· If you are in high school, ask your counselor about locally based funding. Many local businesses and service clubs provide scholarships for outstanding students. Ask about deadlines.

· If you are a current college student, talk to the folks in financial aid. They may know of programs you can qualify for.

· Make sure that you meet all of the deadlines to apply for aid. Many students miss out on free money because they are not up on the deadlines for scholarships and grants.

· Be aware of special scholarships you may qualify for. While there are some well publicized scholarships, you may qualify for scholarships that you’ve never even heard of. Signing up for access to free databases of scholarships can help you find these funds which often go unclaimed just because no one applies.

· Think about getting a summer or part time job with a company that picks up part of the cost of your education. Best Buy, for instance, offers tuition remission for certain working students.

Don’t think that college is out of reach for you. The value of a college education has never been higher. America needs well educated workers in the 21st century. The challenges of funding school are real, but you should know that with some research, you can come up with ways to keep your college dream alive.

Filed under: Scholarships For College

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