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Paying for College

Learn about various payment options for college tuition including grants, scholarships, loans, and installment plans. Discover different investment opportunities, employment options, and financial assistance programs such as FAFSA and CSS Profile. Understand estimated family contribution and cost of attendance. Get tips on maximizing financial aid, applying for scholarships, and managing personal finances to cover college expenses. For further assistance, contact the Financial Literacy Coordinator at Southern Connecticut State University.

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Paying for College

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  1. Paying for College Lew DeLuca Financial Literacy Coordinator DeLucaL2@southernct.edu http://southernct.edu/financial-advising/index.html

  2. Payment Options • Grants & Scholarships (FREE $) • Loans (Student & Parent: Repaid with interest) • Payment/Installment Plans (10 month) • Investments (529, IRA, Coverdell & Custodial Accounts, U. S. Savings Bonds, Stocks & Bonds, Variable Life Insurance, Annuities, etc.) • Employment (Earnings, Tuition Waiver or Reimbursement) • Credit Card (2.75% Convenience Fee) • Home Equity Line of Credit

  3. Applications • FAFSA (FREE application for federal student aid) • https://fafsa.ed.gov/ • Complete October 1 annually • CSS Profile (FEE application for non federal aid) • https://student.collegeboard.org/css-financial-aid-profile • Complete October 1 annually EFC (Estimated Family Contribution)

  4. Cost of Attendance (COA) • Direct costs • Tuition & Fees ($4,300, $11-15,000, $50,000) • Room & Board ($12-15,000) • Indirect costs • Room & Board (live home/off campus) • Books & Supplies ($1,500) • Personal & Transportation ($1,500-$4,000)

  5. Sample Awards

  6. Sample Awards

  7. Next Steps • FAFSA4Caster & Net Price Calculator • Submit FAFSA & CSS Profile 10/1 annually • Apply for private scholarships monthly • Work & save money each summer • Commute if campus costs prohibit attendance • Appeal Financial Aid awards if special circumstances Questions?

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