Paying for College: You Can Do It!
Public and private colleges offer degrees in all areas of professional life. Degrees vary in time and cost, ranging from a two-year associate’s degree for many skilled labor professions (e.g., nurse, mechanic) to a four-year bachelor’s degree and beyond (master’s and doctoral degrees).
Here are some myths (and some truths!) about affording college:
MYTH #1: You Can’t Afford College You may not have heard this, but you have to spend money to make money. Average college graduates earn about twice as much money per year during their lifetime as average high school graduates. Put another way, college graduates earn an average of $1 million more over their careers than high school graduates. You can’t afford NOT to go to college.
MYTH #2: There’s Less Financial Aid Than Before Wrong. Student financial aid in 2002-2003 rose to a record level of more than $105 billion. Most students receive some form of aid. Less of this aid now comes in the form of grants, however. Most aid is awarded through low-interest loans, institutional and other grants, or work-study programs.
MYTH #3: I’m Not a “Straight-A” Student, So I Won’t Get Financial Aid It's true that many scholarships reward merit, but the vast majority of federal aid is based on financial need and does not even consider grades.
MYTH #4: Private Schools Are Out of Reach for My Family The most important thing is finding a school that meets your academic, career, and personal needs. In fact, you might have a better chance of receiving aid from a private school than from a public one. Private colleges often offer more financial aid to attract students from every income level. Higher college expenses also mean a better chance of demonstrating financial need.
MYTH #5: My Parents Will Have to Sell Their Home to Pay for College Home value is not considered in calculations of need for federal financial aid. Colleges may take home equity into account when determining how much you are expected to contribute to college costs, but income is a far greater factor in this determination. No college will expect your parents to sell their house to pay for your education.
Note: Costs Vary
- Tuition for a two-year associate’s degree at a community college averages about $2,000.
- Costs of tuition and room and board at a four-year college adds a lot to the cost—about $2,500-$3,000 per semester.
Myths About Getting in and Getting Through College
MYTH #1: Working While I’m in School Will Hurt My Academic Success If you try to juggle full-time work and full-time studies—that’s really hard. But research shows that students who work a moderate amount often do better academically than those who don’t work at all. Look for an on-campus job related to what you think you might like to do.
MYTH #2: Living at Home Will Cut Costs It’s good to think about how to cut your costs, but living at home may also cut opportunities. You’ll still have to pay for transportation, parking, and food—and in some cases you may still pay rent. Living on campus may create more opportunities for work and other benefits.
MYTH #3: An Education From a Community College Is Not as Good as One From a University Maybe that was true in the past, but it’s not necessarily true any longer. Community colleges are becoming popular choices among students because they have flexible schedules, are often more affordable, and offer more practical training courses.
MYTH #4: College Is Only for Unusually Bright People Most college graduates are perfectly ordinary people in terms of memory, attention span, arithmetical understanding, comprehension of concepts, and other abilities. How they differ from most people is in their willingness to stretch their minds and exercise their mental abilities.
MYTH #5: College Is Only for Unusually Creative People College students needn't be more creative than others. But they do have to apply their creative abilities to learn new things, new ways of doing things, new ways of seeing things, etc.
MYTH #6: You Need to Have a Lot of Free Time to Go to College Community colleges often have evening classes and programs specifically designed for part-time students. When attending college part-time, it is best to take only two or three courses at a time. If you’re arranging your classes around work or family responsibilities, you also need to arrange regular times and places to study.
MYTH #7: It Takes a Long Time to Complete a College Program If you go part-time, it can take you longer to earn a degree. However, many schools allow students to earn credit at the beginning by taking examinations such as the College Level Examination Program (CLEP); others offer certificate programs in trades and vocations that can be completed in less than two full-time years.
MYTH #8: You Have to Pass an Entrance Examination to Get into Community Colleges High scores on standardized examinations such as the SAT or ACT are required for admission to some state universities and selective private colleges but not for community colleges. Many other colleges and universities do not require entrance examinations. Most community colleges welcome all applicants. If you do your first two years of college work toward a bachelor's degree at a community college, your work can transfer to a four-year college or university without entrance examinations.
MYTH #9: You Need to Know What You Want Before Enrolling You don't necessarily have to know what major you want to pursue before you begin taking college courses. You can use the first two years of college as a way of discovering what you want your major to be—for example, by declaring a general major such as “Liberal Arts.” In most cases, it is not necessary to take more than two or three courses in your major in your first two years.
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