Step 1: Money, money, money!
While it may be considered crass, an honest conversation needs to be had within your family about money. You want to go somewher you love WITHOUT breaking the bank. The great thing is that there are tons of fantastic options for pretty much everyone, and that includes YOU!
1. Expected Family Contribution (EFC) Calculator:
- You can use the official FAFSA website to estimate your EFC. Search for "FAFSA EFC Calculator" online, and it will lead you to reliable tools. As the name suggests, this is what you are EXPECTED to be able to pay based on your famly's financial circumstances.
2. Researching College Costs:
- Visit college websites to find information about tuition, fees, and cost of attendance. Look for a section often labeled as "Admissions" or "Financial Aid."
3. Scholarships:
- Websites like Fastweb and Scholarships.com offer searchable databases for scholarships. You can search for scholarships by criteria such as merit, need, or specific interests.
4. Federal Student Aid (FAFSA) Information:
- The Federal Student Aid website (https://studentaid.gov) is the official source for applying for financial aid and learning about different aid options, including grants, work-study, and loans.
5. Net Price Calculators:
- Most colleges are required to have a Net Price Calculator on their website. Search "[College Name] Net Price Calculator" to estimate your costs at each institution.
6. Salary Information by Major:
- Websites like PayScale or the Bureau of Labor Statistics (BLS) offer data on average salaries by profession and major.
7. Graduation Rates and Job Placement:
- Use the College Scorecard from the U.S. Department of Education (https://collegescorecard.ed.gov/) to check graduation rates, job placement rates, and more for various colleges.
These resources should help you gather the necessary information to assess the financial aspects of your college search effectively.