| While tuition and fees have risen over the last | | | | of all Hispanic students. Hispanic and Black students |
| decade at all types of colleges and universities, these | | | | are actually gravitating more toward two-year |
| costs have gone up the least at two-year schools, | | | | schools, with Hispanic and Black enrollment up at |
| according to a recent report by the U.S. Government | | | | two-year schools but on the decline at four-year |
| Accountability Office. | | | | public colleges. |
| The GAO report also shows certain groups | | | | In-State Schools Could Cut 30% Off Your Tuition |
| of students shifting toward these lower-tuition | | | | Costs |
| two-year schools from four-year schools. | | | | Besides cutting your first two years of college |
| If you’re headed to college, a two-year or | | | | expenses by attending a community college, you |
| in-state option could help you minimize your college | | | | could continue to save and minimize your need for |
| costs. | | | | student loans by choosing an in-state public college or |
| Average Debt From Student Loans up Almost | | | | university for your final two years and taking |
| $10,000 Over 10 Years | | | | advantage of in-state tuition rates. |
| For the past 10 years, student debt has been | | | | The College Board shows out-of-state tuition and |
| persistently on the rise, with student loan debt in | | | | fees at four-year public institutions averaging almost |
| particular continuing to steepen. According to a series | | | | $16,000 a year, compared to the $6,000 annual |
| of reports by the Making Opportunity Affordable | | | | average for in-state tuition and fees — that |
| project, the average student borrower at a public | | | | means that by choosing an in-state school, you could |
| college or university today owes $17,250 in student | | | | save an average of $10,000 a year in tuition and |
| loans; 10 years ago, the average borrower attending | | | | fees alone. |
| a public institution graduated owing just $8,000 in | | | | Scholarships: FREE Money for School |
| student loans, after adjusting for inflation. | | | | Wherever you choose to go, make it a point to |
| If you want to buck the trend and graduate with as | | | | dedicate a significant amount of time to searching for |
| little debt as possible, you may be able to minimize | | | | scholarships and grants. There are millions of dollars in |
| your need for student loans by keeping your tuition | | | | scholarships and grants available each year, both with |
| costs low with a two-year school. | | | | and without regard to your financial situation, and |
| More Students Choosing Affordable College Options | | | | these awards are money that you’ll never |
| The GAO report reveals that the majority of current | | | | have to pay back. You can often use scholarships to |
| college students attend institutions that have the | | | | reduce your need for federal or private student |
| lowest average tuition and fees. | | | | loans. |
| Nearly half of all college students in 2006–07 | | | | Online scholarship databases can help you in your |
| attended institutions where the average in-state | | | | scholarship search, especially if you’re not |
| tuition and fees were less than $2,550 a year. Three | | | | quite sure where to start. The NextStudent |
| out of five students attended institutions where | | | | Scholarship Search Engine, for instance, lists over 5.9 |
| annual tuition and fees were less than $5,000. | | | | million individually awarded scholarships worth over |
| Only 3% of students attended schools where tuition | | | | $16 billion, and is completely free to use. |
| and fees exceeded $25,000 a year. | | | | Federal Financial Aid |
| Community College: Two Years of Big Savings | | | | When scholarships don’t cover all your college |
| By attending a community college for your first two | | | | tuition costs, make sure you look into all your |
| years of school, you could save, on average, | | | | available federal financial aid options. In order to |
| anywhere from $3,000 to $19,000 a year in tuition | | | | qualify for need-based financial aid like federal Pell |
| and fees. | | | | grants, work-study, and low-interest Perkins student |
| The College Board, in its 2006 Trends in College | | | | loans and subsidized Stafford student loans, |
| Pricing report, shows tuition and fees at public | | | | you’ll need to submit your Free Application for |
| two-year schools averaging a little less than $3,000 a | | | | Federal Student Aid (FAFSA) each year. |
| year. Annual tuition and fees at public four-year | | | | Even if you don’t qualify for need-based aid, |
| institutions, on the other hand, average almost | | | | there are low-interest non–need-based federal |
| $6,000 a year for in-state students; at private | | | | college loans, such as unsubsidized Stafford student |
| four-year institutions, average tuition and fees are | | | | loans and fixed-rate PLUS loans for parents of |
| more than $22,000 a year. | | | | undergraduates. |
| When you transfer from a two-year school to a | | | | Private Student Loans |
| four-year school, you can still graduate with a diploma | | | | If your education-related costs exceed your available |
| from the four-year school where you choose to | | | | grants, scholarships, and federal student loans, you |
| finish up your last two years of study, but | | | | may still be able to get the additional financial aid you |
| you’d only have to pay two years’ | | | | need from non–need-based private student |
| worth of four-year-school tuition. | | | | loans. |
| A significant percentage of students are choosing this | | | | But remember: Federal student loans generally offer |
| two-year option. According to the GAO, 43 percent | | | | more attractive terms than private student loans, so |
| of non-Hispanic White students are enrolled in | | | | you should always look into your federal financing |
| two-year schools, as are 50 percent of Black and | | | | options first. |
| Asian/Pacific Islander students and nearly 60 percent | | | | |