Transferring to Affordable Four-Year Colleges
Now that you are ready to transfer to a four-year college, you should be better prepared academically andfi nancially to earn your bachelor’s degree. Though the overall annual costs of a four-year college are likely to be more thana two-year program, your junior and senior years can be more affordable when you plan ahead.
So, you’re about to complete your two-year degree. Fromyour experience throughout the past two years, you know thetwo-year college is a great value since you’re earning freshmanand sophomore credits at a huge discount in relation toattending a four-year college out of high school. The Cost ofAttendance at four-year colleges includes more requirementsand options, such as tuition, room, board, books, computers,insurance, fees, transportation and other expenses. These costsmay seem high, but you only have two years to go at costs thatare reduced by fi nancial aid.
Consideration for fi nancial aid is not automatic, but asimple process that requires your input. You are responsible forcompleting the FAFSA (Free Application for Federal StudentAid) each year to determine the Expected Family Contributionthat you and your family should be able to contribute towardyour education. The difference between each college’s Cost ofAttendance and your Expected Family Contribution is (fi nancial)need you are eligible to receive. Your need can be satisfi edby a combination of free money, such as scholarships, grants,work-study and tuition waivers, and also with various loans thatcan be repaid several years after graduation. Financial aid canalso be based on your merit, academics, athletics, communityservice, affi liations or if the college seeks to recruit you.
The FAFSA (www.fafsa.ed.gov) can be submitted onlineand is electronically transmitted to multiple colleges as earlyas January 1, 2007, for September 2007 enrollment. Otherfi nancial aid forms, such as the CSS Financial Aid Profi le (www.collegeboard.com), are required by some colleges to determineeligibility for fi nancial aid that comes from donor contributions,college budgets, etc. Knowing about each college’s required financial aid forms and complying with fi ling deadlines improveyour chances for more fi nancial aid after you are accepted.
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Discuss your options with guidance orcareer counselors.
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Evaluate each option before completing yourtwo-year program.
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Develop a planning calendar to managerequirements and progress.
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Apply to colleges that meet your needs,regardless of costs.
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Apply to multiple colleges to compare andnegotiate fi nancial aid.
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Complete the FAFSA when you apply to each college (not before January 1st)
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See if you qualify for more aid as an “independent student.”
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Accept, reject or appeal all or part of yourfi nancial aid award.
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Appeal your award if you can justify additionalfi nancial need.
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Conduct your own free Internetscholarship searches.
Consider other options:
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Part-time programs
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Low-cost courses during breaks
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Employer tuition assistance
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Military service educational assistance
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Distance learning programs (http://www.detc.org)
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Living at home or apartment sharing
Remember that college is the best investment that pays dividends for a lifetime of opportunities.
Howard Freedman is president of Financial Aid Consulting. He can be contacted www.financialaidresults.com.
