Financial Aid

Most people believe that school is much more expensive than it really is. Although some are expensive, there is most likely a school near you that is within financial reach.

Colleges that charge $30,000 or more per year do exist. In 2009-2010, the average tuition for in-state full-time tuition and fees per year for an undergraduate degree at a four-year public university is $7,020 and $18,548 for out-of-state students. (Source: Trends in College, a publication of the CollegeBoard) Usually, community colleges cost less and private schools cost more.

Adding the financial aid you receive will further reduce your cost of education. When you apply for federal student aid, the college uses your cost of attendance (COA) in determining how much aid you may receive. The COA is the total amount it will cost a student to go to school, usually expressed as a yearly figure.

The COA includes tuition and fees; on-campus room and board (or a housing and food allowance for off-campus students); and allowances for books, supplies, transportation, loan fees, and if applicable, dependent care; costs related to a disability; and miscellaneous expenses.

Think of College an Investment, people with a bachelor's degree can earn more on average than those with only a high school diploma. The earning potential between a high school diploma and a B.A. could be considerably more. Sacrifices that you will make for a college education should pay off in the long run.

Families often make the mistake of calculating only tuition and room and board when figuring out how much it will cost to send a child to school. There are additional expenses that you should estimate so that you have an informed idea of what the total college costs will be.

The following chart is estimated costs based on students living away from home.

The chart below lists the average published tuition

(Source: College Board report "Trends in College Pricing 2009")

You could use the following worksheet to estimate the cost of your education based on the colleges you are planning to attend.

Students' costs will vary depending on whether the college is public or private, the geographical area of the school and the prevailing cost of goods in the area. A college costs worksheet should be completed for each school that the student is considering attending since the costs can vary significantly.

*Undergraduate tuition at CUNY four-year college is $4,000 per year. Tuition at CUNY Community Colleges is $2,800 per year.
**Fees at CUNY colleges range from $300 to $450 per year depending upon the college