Financial Aid Makes College Affordable for You
Financial aid is intended to make up the difference between what your family can afford to pay and what college costs. More than half of the students currently enrolled in college receive some sort of financial aid to help pay college costs.
The financial aid system is based on the goal of equal access – that anyone should be able to attend college, regardless of financial circumstances. Here’s how the system works: Students and their families are expected to contribute to the cost of college to the extent that they’re able. If a family is unable to contribute the entire cost, financial aid is available to bridge the gap.
“Sticker Price” vs. Affordability
Although some of the college price tags you hear about can be discouraging—$30,000 or more for yearly tuition and fees—most colleges are more affordable than you might think. For example, did you know that about 60 percent of students attending four-year schools pay less than $6,000 for tuition and fees? After grants are taken into consideration, the net price the average undergraduate pays for a college education is significantly lower than the published tuition and fees. And remember, financial aid will further reduce the amount your family will actually pay.