The College Money Hunt
The rising cost of tuition is truly mind-blowing and hard to fathom as a parent. As an incoming freshman at UC Berkeley, I paid $325 semester in tuition. Monthly rent ran about $350/month, and I could get by on a monthly budget of $400 to cover my other costs. By the time I was preparing to graduate from Cal, tuition had nearly quadrupled. Today, the total cost of attending UC Berkeley for a year is just under 35k. Private tuitions soar. The total cost of attending Boston University and New York University has risen to $67k/year and will increase in the years forthcoming.
What to do?
As a student there are ways that you can help your parents afford this tremendous investment.
Looking for scholarships takes patience. One of the most likely places to find a scholarship is in conjunction with an honors program. Once you’ve been admitted, find out if you can apply to the honors program. See if there are fellowships or scholarships linked to the honors program. Dig into the Financial Aid page to see if there are opportunities to apply for money there.
Institutional and Community Sources
The Federal Student Aid Office suggests that you consider multiple fronts in your research for scholarships, including your parents’ employers. Here’s their list:
Crowd-funding is another option. Not all crowdfunding platforms will allow you to raise money for college, but some do. Take a look at this list of crowdfunding sites for college bound students. Keep in mind that you don’t have to ask for money for college. Instead come up with a project of your own, raise money for that project and then use the money for college.
Research Grants/Teaching Fellowships
Once you are a student, you can also look into getting a teaching fellowship to help professors with their teaching or research. Undergraduate research grants can also help offset the costs of travel associated with your own research projects.
A Note of Caution
If you already have a full or significant partial scholarship to attend college, look into the consequences of obtaining more money. Will the college reduce your scholarship? For more information on this visit the website of the Federal Student Aid Office.
Felicia Fahey PhD
Felicia is a comprehensive educational consultant. She works with college bound students of all ages close to home, across the country and around the globe.