What are the Costs?

The numbers

The costs of attending college can vary widely, depending on whether the school is a community college, a state university, or a private college or university. Are you in-state or out-of-state? It is more than just tuition, room and board. In general, the total cost of attending college includes:

Tuition and Fees
Books and Supplies
Room and Board ( consider area's cost of living)
Transportation
Personal Expenses

However, the "sticker price" of a particular school is only the beginning. Depending on the school, your family's financial situation, your academics, your financial and/or merit aid, the cost may be reduced significantly.

Listed below is the calculation used by all US colleges and universities:

COA - EFC = Demonstated Need

Cost of Attendance (COA) - all colleges are required to calculate their estimated cost of attendance and have the information readily available. You can generally find it on an institution's Financial Aid page, or on sites such as Naviance, Big Future, or College Data.
Expected Family Contribution (EFC) - is an amount officially determined by filling out the FAFSA (Free Application for Federal Student Aid) and possibly the CSS Profile. However, there are calculators that will closely estimate your EFC, such as Big Future. Refer to the FAFSA and CSS Profile page for more information.
Demonstrated Need - often, demonstrated need will be met in a Financial Aid package from the college, which may include: Scholarships and Grants, Work-Study, and Loans.

Unfortunately, not all schools are able to meet 100% of a student's "Demonstrated Need". This may be an important factor when choosing which schools to apply to. You can learn whether a certain school will meet a student's "Demonstrated Need"by looking at its profile on sites such as Big Future or College Data.

Be aware of what you are buying!

When considering a college education, it is important to realize that this purchase is both an investment and a consumption decision.

Investment - your education is an investment in your "human capital" (your skills, knowledge, and credentials) and this, often at times, is a sound investment.
Consumption - paying for the experience of being on a beautiful campus for 4 years is a consumption choice. Using your financial resources to learn about something that will not necessarily provide income is a consumption choice.

Consider your future financial situation ahead of time. Especially when taking on loans to pay for college, the future financial burden is worth considering ahead of time.

Ideas for making it work

Some very strong, but less known colleges may off big merit scholarships which can offset a higher sticker price.
Consider... Honors Programs at some State Universities offer high-quality, small classroom experience less expensively than elite private colleges.
Earn $$$. Co-op programs allow you to alternate semesters at universities and working in a paid, relevant internship.

Helpful Links
- US News 2016 list of Top 10 internship/co-op programs.
- College Board Net Price Calculator
- CU has an extremely helpful website called Budget Sense that addresses all issues of budgeting and responsible spending for college students.
- Use websites with tools including: Loan Payback Calculator, Comparing Aid Offers, and more...

Funding Strategies

Read the attached file. Click Here

How to Avoid Scams

Includes examples of services to avoid! Click Here