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Financing Your Rutgers Education

Financing Your Rutgers Education. By: Rachel Negro 30 September 2007. What do you mean by “Financing”?. Many people do not realize that college costs does not just mean tuition. Books, parking permits,& transportation also fall under this heading.

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Financing Your Rutgers Education

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  1. Financing Your Rutgers Education By: Rachel Negro 30 September 2007

  2. What do you mean by “Financing”? • Many people do not realize that college costs does not just mean tuition. • Books, parking permits,& transportation also fall under this heading. • A majority of RUC students are New Jersey residents resulting in a reasonable tuition.

  3. How do RUC students pay for education? • Student Loans • Parental Support • Students’ Own Funds

  4. Student Loans • Many students take out loans to pay their college expenses. • Student loans are borrowed with the intention of paying interest charges while in school • Most students start repaying their loans upon graduation

  5. Student Loans • Just the thought of taking out/paying back loans causes anxiety among students. • “I honestly do not know but I do know that my loans are going to hit me hard when I graduate and join the real world. “ • Some popular loans include • Stafford Loan • NJ Class • FAFSA Loans

  6. Parental Support • Some students are able to attend college through the financial support of their parents and families. • “Fortunately, my parents pay for my education, so it's difficult to comment on the financial aspects of the university.”

  7. Parental Support • Other family members (I.e. grandparents, godparents, aunts & uncles) may have started college funds. • My grandmom was a teacher and wanted nothing more than for my sister and I to go to college so she put money away that would collect interest so we would have enough.” • Parents also may take out loans in their names. The student or parents may pay them back after graduation. • “I promised after graduation I will help repay all the loans we had to take out for my education.. But hopefully I will get a full time great job and it will be easy to pay off.”

  8. Students’ Own Funds • Many of RUC students pay their own tuition and fees. • Those students who choose this option often work full time/multiple jobs along with attending classes. “It can be quite challenging for a full time student to work two jobs in hopes of financing an education and still do well in college.”

  9. Students’ Own Funds • “I pay out of pocket for tuition and books.  Had a bad experience with loans when I first went to college some years ago.  I do receive tuition reimbursement from my job as long as my grades are C or better.  I then use that money to pay for the next term.  Sometimes it limits how many courses I can take, but I have made out good so far.”

  10. Where do we go from here? • Though tuition may not be as expensive as some institutions, all students deserve some type of assistance. • Lower fees and costs should be awarded and demanded for higher education

  11. Reimbursement Program • Awards students with a monetary reimbursement for grades that would place them on the Dean’s List • Raises student and teacher morale alike • Puts money back in students’ hands

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