College Tuition Costs are Spiralling

So, our children want to fly away from the nest and further their academic life in college. But with escalating costs, can we afford it? Will they have to take part time jobs to stay afloat or can we supplement their financial needs with college loans?

These are just some of the questions that concerned parents and aspiring students are asking themselves nowadays. It's hardly surprising when you look at the facts - a 51% increase in fee and tuition costs for public four year colleges and a 36% rise for private four year colleges in the last decade alone. This, coupled with the disproportionate income increases for families likely to have college age children, means that more and more often parents or students themselves are turning to direct loans or private college loans for help.

Why do parents and students need extra help?

Every parent and family is made aware what their Expected Financial Contribution (EFC) will be to their child's further education when they apply for a place. This is calculated minus any government grants and federal supported college loans the student will be granted. Every family has numerous financial commitments and additional support for your child throughout college could be all too much to bear if you don't have enough savings or disposable income. But all is not lost! There are other sources of financial support available.

How can the shortfall be covered?

Additional financial support comes in all shapes and sizes. They normally take the forms of unsubsidized federal student loans, state sponsored loans and private sector college loans. It is the latter that has experienced the most significant growth over ten years (a 745% increase) and accounts for a whopping $10.5 billion of aid used to finance college education.

The private college loans available can be split into student loans or loans for the parent:

Student Loans

? Private college loans from banks and other funding sources.

Parent Loans

? Private education loans from banks and other funders.

? Home equity loans to draw down equity from your property. These funds can be used to pay for college fees.

Is it all worth it?

Its all too easy for parents and students to balk at the idea of taking out college loans to enable them to further their education. The hard cash needed to see them through up to four years of study may seem impossible to raise but they just need to realize the benefits this will bring their child and America. College educated individuals earn more than secondary school leavers, they also participate in society more and their children will attain higher levels of education too.

The investment is worth it.

Peter Siu is a successful freelance writer providing valuable advice for consumers when applying online for credit cards, student credit cards as well as other personal & mortgage loans. You can visit his sites at http://www.uscreditcenter.net and http://www.ukcreditcentre.com - His numerous articles offer moneysaving tips on a number of topics.

---

Creating the Acceptable College Applicant

America's colleges and universities no longer have enough room to... Read More

SAT Test Preperation; Prep Options

It's time to take the SAT's. How should you prepare?... Read More

CRI Releases Its 2003-2004 College Graduate Survey

Upper Saddle River, N.J. - May 2004 - Compensation Resources,... Read More

Need Money for College?

Finding money for college can be a challenge for many... Read More

Who Can Apply For Online Nursing Degrees?

Online nursing degrees are college degrees in the field of... Read More

How to eMail Your Professor

So its 12:30 Pm and there you are at the... Read More

How To Improve Your Study Habits and Remember Better

If you're a student attending classes, you have probably experienced... Read More

Online Degree Education - Advantages

Distance education has been getting a lot of attention lately,... Read More

College Freshman: How to Get Over Homesickness

Whether you're a freshman or a senior, studying abroad or... Read More

Higher Education as Service Trade Exporter In South Africa

IntroductionWhilst it is recognized that South Africa is still in... Read More

Business and Academia!

The driving factor of any university is to make the... Read More

Facing Your Fears as an Adult Returning to School

In case you hadn't noticed, career colleges aren't just for... Read More

GCSE English I Hate the Moor Notes about Othello

The Shakespearean play "Othello" describes a cruel chain of events... Read More

Who Should Earn an Online Associate Degree?

An online associate degree is a two-year general studies degree... Read More

Too Much to Read and Too Little Time

I spent the better part of 17 years in and... Read More

Hidden College Costs: Roommate Conflict

Parents, if you're already reeling from the costs of today's... Read More

Business Plan Competitions

The idea of a business plan competition first started in... Read More

Consolidate Student Loans and Shop Online

If you run a home business, you know that budgets... Read More

Writing The All-Important College Application Essay

The application essay is the most crucial piece of writing... Read More

Distance Learning Degree Program ? How to Study

The format of distance learning courses is different than what... Read More

The Freshman 15, or 20, or 25

Now I remember being a freshman in college, and let... Read More

Five Steps To Choosing A College

My name is Debbie Ross. The information I have about... Read More

Do Best Friends Make the Best College Roommates?

Do best friends make the best college roommates? Not always!... Read More

Reducing the Administrative Burden for Further Education Colleges

The introduction of the Government's Education Maintenance Allowance (EMA) in... Read More

College Roommate Personality Clashes: How to Survive

Are you living with your total opposite? It's amazing how... Read More

Self Marketing 101 - Why Students Should Tell Lies

Everybody lies, and storytellers are some of the best liars... Read More

Writing Effective (and Requisite) Essay Openers

When we write for college courses, we write for an... Read More

Outstanding Business Professors at WVU, Part 3

Students appreciate teachers that can show them how the material... Read More

Why Study the Flows of Civilization?

The reason to study the flows of civilization is out... Read More

Online Colleges as a Resource for Your New Career

Online Colleges require successful team buildingMost online colleges require their... Read More

IMT College - Full Online

IMT College - full online* Ensure Your Future* Immediate Use... Read More

The Pros and Cons of an Online College Degree

Getting a college degree online seemingly appears to be a... Read More

Write Your Way Into University ? The Personal Statement

The Get Into Uni personal statement writing guide contains systematic... Read More