While the high cost of college has risen steadily for the past few years, the College Board announced Wednesday that this year, costs associated with college have risen by the smallest percentage in more than 30 years.  In-state tuition at a four-year public university increased this year by an average of $247, up to an average of $8,893. That’s 2.9 percent – a moderate increase that represents a deceleration in recent years.
Despite this news, college is still expensive.  If  you are considering a private college or university – or as a parent, helping to pay for it – be prepared to fork over $30,094 in the 2013-14 academic year.
Unfortunately, public grant assistance has dwindled, leaving more and more Latino students to pay out of pocket for school. When it comes to paying those college bills, federal aid declined 9 percent – about $325 – per full-time, undergraduate student.
“The rapid increases in college prices have slowed, however, student and families are paying more because grant aid is not keeping up,” said David Coleman, president of the College Board told the Associated Press.
This is mixed news for Latino students, says Deborah Santiago, the Vice President for Policy and Education at the non-profit Excelencia in Education, citing the stabilization of college tuition costs. But because grand aid has “not kept pace over the last few years with the increase of tuition,” explains Santiago, growing numbers of would-be-graduate students are at a loss when it comes to paying for college.
“The sad truth is that we don’t expect to see a significant increase in federal grant aid in the near future,” says Santiago. “That’s a real concern because Latino students are dispoportionately low income and without the means to pay for college.”
But that shouldn’t deter young Latinos from pursuing higher education. A recent Nielsen Newswire survey – that gathered responses from 29,000 individuals from 58 countries – reveals that 78 percent of respondents agreed that receiving a college degree was key to a higher income, better employment opportunities and an improved lifestyle. And once students make college attendance their goal, says Santiago, there are a few tips by which to make paying for it easier.
To learn what ways to pay for college, go to: http://nbclatino.com/2013/10/24/with-less-federal-aid-for-college-3-smart-ways-to-pay-for-school/