College financial planning begins early in education
The prospect of college can be daunting, especially when it comes to financially planning out how to make it happen. But with good research, college can actually be affordable.
According to NerdWallet.com’s article, How to Know if a College is for You: Making an Affordable Choice, following a threestep process can help you understand the full costs, which includes:
• researching actual costs such as tuition, boarding and fees;
• understanding personal expenses; and
• determining how much debt you can handle.
Most importantly, determine choices that affect your lifestyle, whether employment is needed, living arrangements, and transportation.
Middle school starting point
Dr. JoEllen Price, dean of financial aid and scholarships at San Jacinto College, said students should begin evaluating education costs as early as middle school. Most begin their college search as a high school sophomore or junior.
Being familiar with financial aid is crucial, as aid is impacted by income and assets existing two years prior to entering college, according to Price.
“Students should begin financial aid applications as a high school junior and senior. Scholarships applications should be done as early as possible, and the Free Application for Federal Student Aid (FAFSA) should be completed during the first semester of the student’s senior year in high school,” Price said.
Make sure to be in contact with a college counselor, who assists students with online application processes, required documentation to complete the process, and understanding different awards resulting from the application process. College counselors also assist with understanding the requirements for retaining aid eligibility and reapplying each year.
Scholarship and grant funding typically require an application process, so start early. SJC’s scholarship office works with the foundation, external agencies, and internal departments to provide students with a variety of scholarship opportunities.
“San Jacinto College financial aid advisors and specialists can assist students with locating scholarship opportunities and tips on completing scholarship applications,” said Price. “Scholarship search agencies can be found online; however, students should be aware of scholarship scams. Students should never have to pay to apply for scholarship funding and should never provide their banking information as a part of a scholarship application process.”
Information on specialty programs offered through colleges, universities and corporations can also be beneficial.
In their online article, College Affordable: Letting Industry Pay for Students to Go to College, Forbes.com offered a solution that involves industryeducation partnerships that pay students to go to
college.
One example is the Ford Automotive Student Service Education Training (ASSET) Program offered in 40 community colleges, which offers an “earn as you learn” structure, with some local dealers paying students to go to college and providing a paid internship at a Ford dealership throughout the two-year period.
Offering a promise
The Promise @ San Jac Scholarship is another possible option for higher education and career success.
“We don’t believe finances should stand in the way. It’s our promise you can have access to a brighter future on a successful career path without sacrificing financial stability,” said Price.
Program requirements can be found at www.sanjac.edu/admissions/paying-for-college/ financial-aid/types/scholarships/promise.