We did it! We survived Thanksgiving. In two short weeks, Christmas will be here. With the release of the FAFSA application, some families are thinking about how to pay for college in a few months.
This month our newsletter will focus on Different Ways to Pay for College. Last year, we partnered with a high school in Richardson, Texas to survey how high school students planned on paying for college.
Each of these statistics screams that these high school students do not understand how to pay for college. We will focus on one of these statistics each week this month, starting with "48% Depend on Family Financial Support.
Family financial support means a family can cover the entire or remaining costs of college tuition, room and board, fees, and assist the student with daily college expenses such as laundry, impromptu meals, personal care items. A family could spend thousands of dollars per semester on their college student, adding stress and financial strain to their household income.
The top advice we give to parents and guardians is to have an authentic conversation with their high school student prior to senior year about college affordability. Our definition of college affordability consists of researching colleges that families can afford if their high school student did not receive any aid. We also include a plan with your student on ways to pay for college, such as completing scholarships.
Understanding family financial support helps your high school student with their college decision and can motivate them to seek other financial opportunities for college.
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