Many families do not have savings built up to pay for college education. However, there are many ways to fund this investment. Do not rule out college based on your bank accounts. Do consider the cost of your education compared to the benefit. Having a college education increases your chances of being employed and having higher earnings. People with a bachelor's degree earn over 62% more on average than those with only a high school diploma. Over a lifetime, the college graduate will earn $1 million more than the high school graduate. Considering that the average Iowa student's debt upon college graduation is $22,025, this number doesn't seem as large after acknowledging the gap in pay between a high school diploma and a bachelor's degree.* Just like any other major purchase in life, it takes investigation to get the most for your money. Do your research and choose wisely. Included here are great articles to read when getting started.
*Statistics taken from "A State-by-State Analysis of Rising Tuition and Student Debt" which can be found at http://kennedy.senate.gov/downloads/CostReport.pdf. Caution: It contains 70 pages and is a very large file.
College is Possible Provides information concerning financial aid programs, college prices, financial aid vocabulary, and myths and realities.
www.studentaid.org Provides information concerning what college costs, how to pay for it, types of financial aid, the FAFSA process, and a financial aid checklist.
www.collegeplanning.org Provides information on how to apply, financial need, award letters, grants, scholarships, loans, tax incentives, and Iowa college's deadlines for FAFSA.
www.studentloan.org Provides information about the financial aid process, types of financial aid, how to choose a lender, borrower benefits, current interest rates, what to expect with repayment, debt management, loan calculators, and various application forms.
Free Application for Federal Student Aid (FAFSA) Here you can find out what determines eligibility for federal student aid, use the Financial Aid Wizard, read 34 tips to reduce college costs, request a PIN number, complete the FAFSA online or download a PDF format in English or Spanish.