Financial Factors to Consider When Choosing a College

Apr 06, 2018
ISA investing, Student loans

Financial Factors

As May 1st approaches, many high school students are making a decision about what college to attend. Deciding factors normally include academics, location, and extracurriculars. However, students must make sure they don’t overlook the important financial considerations when making their college choice. Here are four of the most important financial factors to consider:

  1. Scholarships
    When comparing college costs, students should take into account any scholarships or grants. In addition to scholarships awarded upon acceptance, students should consider the potential for future scholarships.
  2. Cost of Living
    Although tuition tends to be the largest cost, living expenses are also a significant expense for college students. When comparing living expenses at different schools, students should consider factors like housing, food, and transportation.
  3. Earning Potential
    Paying more for college may be worth it for students who can expect to earn more money after graduating. Students should research common career paths and salaries for students at different schools to determine whether it is truly worth the investment.
  4. Financial Aid
    One of the most important factors for students to consider is the financial aid package. Need help deciphering your financial aid letters? Learn more about comparing offers here.

Is college turning out to be more expensive than you expected? Apply for our income share agreement program.

About the Author

Sabrina Kite

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