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  • In today's job market, a college degree is nearly essential. For many prospective students, however, the obstacle is simple: money. And before you can even start down the road to a college degree, you need to know how much it will cost. Learn about cost estimates for students who have enrolled in college for the academic year 2009-2010 and ways to defray that cost.

    Estimates for 2009-2010

    According to FinAid.org, the following are estimated price tags for the 2009-2010 academic year: $27,170.82--two-year degree from a community college. $76,970.85--four-year degree from a public university in-state. $123,390.46--four-year degree from a public university out of state. $157,058.54--four-year degree from a private university.

    Financial Aid

    One reason these figures are so intimidatingly high is that tuition inflation is increasing at a rate of about seven to eight percent per year. Of course, not all students actually pay the full amount in cash. Instead, funding is available through a wide variety of sources, including scholarships, federal (need-based) student loans, parental loans, private loans, Pell Grants, and work study. Regarding federal loans, start by completing the worksheet at Fafsa.ed.gov to get an estimate of your eligibility. Most financial aid awards are enough to cover the cost of tuition and some living expenses.

    Scholarships and Grants

    Of all your options, scholarships and grants are the most desirable, because you do not have to repay them. Find more information about Pell Grants at www.ed.gov/programs/fpg/index.html. The key to finding scholarships is to search both generally among philanthropic corporations and foundations and also for funding that may apply to you particularly. For instance, the Coca-Cola Corporation offers a scholarship open to general applicants, while more targeted scholarships are offered by organizations such as the Jewish War Veterans, the National Women's Studies Association and the Two Ten Footwear Foundation. You can find a list of targeted scholarships at www.finaid.org/scholarships/unusual.phtml.

    Bargain Hunting

    Search for bargains in academia. The cost of attending college varies considerably by state, so if you are in search of a particular educational experience and traveling far afield is an option, you might consider relocation. Check out the list of collegiate "best buys" published annually by Forbes magazine to start your comparison shopping.

    Putting It All Together

    For many, earning a college degree is the gateway to a more economically prosperous future. And finding the right combination of affordability, educational opportunity and funding is the first step in that process.

    Source:

    Pell Grant Information

    Targeted Scholarships

    Cost Estimates for 2009-2010

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