Finance Globe

U.S. financial and economic topics from several finance writers.
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Money Matters when Choosing a College

As a high school student, there will come a time when you need to choose a college. Your decision will be based on many factors, including the education and degree programs offered, location, and of course, how much it costs.

While nobody wants to choose a college based on money alone, this is a factor you cannot afford to overlook. If you do, you may look back after graduation and wonder if you made the right decision.

Here are three financial related details to consider when choosing a college:

1. Total cost for a four year education. In addition to tuition, don’t overlook other costs including but not limited to: room and board, books and supplies, and transportation expenses.

With this total in mind, it becomes much easier to compare one college to the next.

2. Financial aid. Is one school offering you a scholarship? Have you applied for grants, both through the school and third party organizations? There is a lot of free money out there, and you need to do your best to find it.

Note: although student loans need to be paid back, this is an option to consider when attempting to make ends meet.

3. Bang for your buck. What are you getting in return for your money? For example, some students and parents can justify spending more money if they are working towards a diploma from an institution with a long standing reputation for academic excellence. The more research you complete the easier it is to determine if you are going to get your money’s worth by attending a particular school.

As a high school student, you are not always thinking about money. For this reason, your mind may wander when choosing a college. There is a lot that goes into selecting your home for four years, but make sure you put a lot of weight on the overall cost.
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Friday, 30 July 2021

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