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The price of college tuition increases at an average rate of 6-6.5% each year, outpacing the average income by 15 times. This makes the reality of paying for college a daunting challenge for most parents. Knowing what options are available to you from a state (federal) vs. a private (institutional) school perspective is the first step in evaluating and comparing what options both have to offer. This strategy should encompass all types of available aid, whether in the form of loans, grants, or scholarships.
Knowledge is power, and if you understand what resources are available to you and how they work, you can develop an effective strategy that meets your family’s goals and objectives.