Your child got into the college of their dreams. But the acceptance letter didn’t mention any kind of scholarship. Now what?
The good news is that most students receive some financial help paying for college, bringing the cost down from the school’s “sticker price.”
At the average private college, for example, the sticker price for tuition, room and board was $45,370 last year. But the average student actually paid $26,080, according to The College Board. At public colleges, the sticker price was $20,090, but the average in-state student paid $14,210.
Even without a scholarship, there are plenty of other forms of aid that can help you tackle the cost. The financial aid system can be confusing, so don’t feel bad if you’re a little unclear about how it all works. There are scholarships and grants (which you don’t have to pay back), and loans (which you do). Some of what you receive is based on income and some can be based on academic merit.
Here are seven other ways to help pay for college: http://money.cnn.com/2017/04/25/pf/college/pay-for-college/index.html