Here’s how to get the most money towards college

High school senior Sahaar Khoja, pictured after winning a competition for Junior Achievement company, factored in cost when choosing a college to attend in the fall.

Photo: Almas Khoja

The cost of college is top of mind for Sahaar Khoja.

The 18-year-old, who is a senior at Dulles High School in Sugar Land, Texas, is going to the University of Texas at Austin this fall. Affordability was a big factor in her decision, as was the curriculum. Khoja, the daughter of immigrants from India, wants to become a doctor.

“If it weren’t for the scholarships, and the grants and the aid that I applied for, and was lucky enough to get for UT, I’m not sure if I would be going,” said Khoja, who is the first person in her family to go to college.

The average price tag for undergraduate education, including tuition, fees, room, and board, increased by a whopping 169% from 1980 to 2019, an analysis from Georgetown University Center on Education and the Workforce found.

More from Invest in You:
College Money 101: From student loans to setting up a budget
Governors say financial education should extend beyond school years
U.S. households spending an extra $327 a month due to inflation

For the 2021-22 school year, tuition and fees for a public four-year in-state college came to an average $10,740, according to the College Board. Public four-year out-of-state institutions cost $27,560 and a private nonprofit four-year cost $38,070, the College Board found.

These days, prospective students are more aware of the financial impact of attending an institution of higher education. Some 69% of teens said rising costs affected their plans for additional schooling after high school, according to a survey from Junior Achievement USA and Citizens.

Some 28% of teens are now only considering in-state schools, 22% plan to live at home and commute to college and 10% are weighing getting a two-year degree versus a four-year degree, according to the survey. It was conducted by Wakefield Research among 1,000 nationally representative U.S. teens…

Read complete post here:
Source link