Bill Cosby once said, “There is a time and place for everything, and it’s called college.” In today’s society, a college degree is the key to a good career and a successful future. It is also typically a requirement for many jobs. In the 20th century, pursuing a college degree wasn’t as important as today. According to ConsolidatedCredit.org, an average undergraduate student at Yale paid about $450 for their tuition in the 1940s. As for today’s currency, that’s about $7,200! Tuition prices began to rise immensely in the late 1970s and by 1980, government funding began to decline. An average total tuition was about $3,449 and federal aid was given in the form of grants, which could cover two-thirds of tuition. By 2005, college costs were beyond …show more content…
Grants and scholarships are often called “gift aid” because they are free money. Applying for grants and scholarships helps to make paying for college a lot easier. The article, “7 Pitfalls to Avoid When Paying for College” written by Jane Clark Bennett, states that colleges generally offer tuition discounts to applicants whose grade point average, test scores, and other credentials put them in the top 25% of applicants (Bennett 52). There are thousands of scholarships from all kinds of organizations. While attending high school, a scholarship could be given for being a talented athlete, a good student, or a member of a certain church. Many websites will factor one’s grade point average, test scores, interests, and special skills and generate a list of scholarships that could be available to earn. Frank Palmasani, an author and counselor, says “Nabbing a merit award is getting easier…Never anticipate that your child’s test scores and GPA are too low to be considered for merit aid.” The average reward for scholarships to private colleges is about $12,500. Some grants can typically cover at least half of tuition costs. This is very important because it makes it easy for families of all income levels to seek out a great college for their children. The best part about scholarships is that you don’t have to repay them. Federal loans are the most flexible of education loans, and give students the chance to borrow much needed college funds. Federally sponsored programs like the Stafford Loan and the Perkins Loan, offer low fixed interest rates as well as deferred payment options students currently enrolled in college. With a Stafford Loan, the Federal government will pay all accrued interest on the loan for as long as the student remains enrolled in college. In the article “25 Secrets to Paying for College,” by Kim Clark, recognizes that a student can finish college in less than 4 years. High schoolers who