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Paying for College

Jan 31, 2009 04:00PM ● By Super Admin

They got the grades. They got the acceptance letter. You’re getting the bill. Sound familiar? If you’re the parent of a high school student, and college tuition bills are causing anxiety, don’t fret. There are many avenues available for financial aid, regardless of your yearly income, plus savings plans for students and parents.

First Things First: The FAFSA
“One of the biggest myths about a college education is that students can’t afford one,” says Brett Tujague, Advancement Via Individual Determination (AVID) Coordinator at Roseville’s Woodcreek High School. He advises all his college-bound students to apply for financial aid, regardless of their family income.

Financial aid is broken down into two main categories: grants/scholarships (money you don’t have to pay back), and loans (money you do have to pay back). The gateway to all financial aid is through the Free Application for Federal Student Aid (FAFSA). Students will not receive any aid, not even student loans, without filling out the FAFSA. Both parents and students need to sign up for a PIN to electronically sign the FAFSA, which is quick and easy to do at Families should only fill out the FAFSA at, where the application is free. Many scam sites charge a fee to fill out the application, so don’t be fooled. The FAFSA filing period is between January 1 and March 2 each year. Once a student’s FAFSA is processed, the family will receive a Student Aid Report (SAR) that states the Expected Family Contribution (EFC) number on it. This number is the amount of money a family is expected to contribute to their student’s education. A family’s EFC does not change based on the school’s price tag. In some situations, a private college or university may end up being less expensive than a public one.
In a shaky economy especially, the word “loan” can cause trepidation. But fear not. Federal Stafford loans can be borrowed a low interest rates, and depending on a family’s income, may have the interest subsidized while a student is enrolled in school. Loans are a great way for a student to learn about credit and establish a strong borrowing history. As long as they are handled responsibly, loans can help a student make an investment in their own future. By filling out the FAFSA, federal Stafford loans will be offered to the student, regardless of family need.

For more information on College Funding tips and ideas, be sure to pick up this month's copy of FoothillStyle. Check out the Distribution tab on this Web site for some of our newsstand locations. Or, to order a copy of this issue, please email  [email protected], or call 916-988-9888.