Money for College – Funding your College Education

The grumblings over the rising cost of college education are not without reason. According to College Board’s annual survey on Trends in College Pricing, the average total tuition and fees paid by students at four-year public colleges and universities in 2006-07 was ,836, while the average total tuition and fees at private colleges and universities was ,218 for the same period. (collegeboard.com/prod_downloads/press/cost06/trends_college_pricing_06.pdf)

The bad news is that tuition fees are just the tip of the iceberg, as it constitutes only a fraction of the overall cost of college. The expense shoots up several notches if you add room and board to the total cost of attending college.

There are several other factors that can make college a financial burden for many. One of the biggest factors is juggling several responsibilities with education that prolongs graduation time for many students and adds to the overall cost.

But the good news is that help is available in the form of financial aid for college, especially if you’re among those whose parents did not have the means to save money for college and have to depend on loans to finance higher education.

In fact, a lot of people delay going to college until they have built some savings to avoid taking loans.

While it’s admirable on their part to save up for college, there’s a high probability that such individuals would never be able to go back to school as they get embroiled in the nitty-gritty of life.

College Financial Aid

If you want to graduate from college debt free or at least reduce it to the maximum extent possible, then it’s important to explore all avenues of college financial aid.

According to the College Board survey, full-time students of private four-year institutions receive an average of ,000 of aid per year in the form of grants and tax benefits, whereas those enrolled in public four-year institutions receive ,100 as financial aid for college. (collegeboard.com/prod_downloads/press/cost06/trends_college_pricing_06.pdf)

If this data is any indication, then grants play a very important role in helping students fund their education. Unlike loans that have to be paid back by students once they start earning, money for college provided by grants generally does not have to be repaid. These grants are primarily need-based or awarded on the basis of students meeting certain eligibility criteria.

A case in point is the Pell Grant, which is one of the most popular federal grants. The Pell Grant is awarded to undergraduate students who come from low-income backgrounds. The Academic Competitiveness Grant is also a federal grant available to undergrad freshman and sophomore students who demonstrate academic excellence and a propensity towards leadership and service.

In addition to these federal grants, several states also offer grants to students based on need, merit, or their chosen major. There are also other grants that are constituted especially for students belonging to certain ethnic or disadvantaged groups such as African Americans, Native Americans, Hispanic Americans, etc. These grants could be administered by the government, universities and colleges, or ethnic organizations.

Scholarships are another source of financial aid for college. Unlike grants, scholarships are mainly merit-based and have to be competed for. Many individual colleges and universities also administer in-house scholarship programs that students can vie for.

So, if pursuing graduate or undergraduate programs from a college seems like an impossible dream, don’t forget that financial aid can be an option for those that qualify. This might help you turn your dream into a beautiful reality!

Necessity of College Education

Today, the importance of a college education cannot be disputed. Any professional field requires you to have some sort of post-secondary education, whether it’s in the form of a degree, a diploma, a certificate or some other sort of accreditation. In fact, a survey was conducted around the world about the significance of a college degree in the corporate field. You may be surprised to know that a college degree affects your salary by a 60 per cent increment. Even with these statistics, situations exist that may hinder you from obtaining a college education. Luckily, there are solutions to many of these problems. These solutions are facilitated by the government and educational bodies, which ensure that those who a want to receive an essential college education, have the opportunity to.

One situation that may make you reconsider college is finances.

Times are tough and having enough money to pay for college is difficult. However, many institutions, such as Centennial College in Toronto, Ontario offer financial aid, as well as grants and scholarships. This will ease the financial burden. There are also professionals at the school who can walk you through the steps of the application, making applying for student financial aid easy. Another reason you may think you are not able to attend school is that you have not completed your secondary education. Centennial College offers courses to help you receive these academic credits so that you can enter the program of your choice quickly. These programs include: English for Academic Purposes, General Arts and Science and others. Also, internationally educated professionals can also enter the Canadian industry with courses for specifically designed to help them bridge the gap between their home country and Canada.

Centennial College is an excellent choice as it was the first community college in Ontario with a long history of training professionals through full-time, part-time, degree, co-op, fast track, international and various other study programs.

The school offers programs in the areas of: Business, Communications, Media and Design; Community and Health; Engineering Technology and Applied Science; Hospitality Tourism and Culture as well as Transportation. No matter what School of study you are most interested in, you will receive a theoretical and practical education that is applied by qualified instructors who have field experience.

Common admission requirements for diploma or certificate programs at Centennial College include at minimum an Ontario Secondary School Diploma (OSSD) or equivalent. You may also be considered if you are at least 19 years of age. Centennial’s academic requirements state that you must have completed the compulsory English 12C or U credit or a skills assessment. However, these are just two of the common requirements. Please note that requirements do vary from program to program and it is best to visit the Centennial College program database to learn more.