By Suzanne Groenewold
River Valley Community College
As summer comes to an end, many high school graduates are getting ready for college. The reality of the cost of college is setting in with parents and students scrambling to make it all work. Federal financial aid, scholarships, loans, parent plus loans and personal savings will all play a part in paying for college, but how much will you pay?
An affordable education, one that lands you a degree and leaves you with little to no debt, is ideal. The longer you are in school, the more it costs, the more debt you incur. Let’s break it down.
Tuition, Room and Board
Since 2018, in-state tuition for New Hampshire students at one of the seven community colleges has been $215 per credit. Consider the cost for in-state students at Keene State at $490 per credit, UNH at $630 per credit and Colby Sawyer at $1,545 per credit.
Of course, in addition to tuition, those heading away for college will be paying for room and board as well. As you may imagine, it is not cheap to live on campus. New Hampshire residents will spend $13,500 per year to live on campus at UNH or Keene State. Then there are books and fees. Find out more by going to the US Department of Education’s Net Price Calculator at https://collegecost.ed.gov/net-price.
How to Pay for College
Grants and scholarships are the best way to fund your education as there are no repayment requirements of these funds. Every college offers links to these resources, but the student needs to put in the work with individual applications and essays needed to be awarded these funds.
During the COVID years, money from the federal government was flowing into education, but most of that has now dried up. Most students will fill out the Free Application for Federal Student Aid (FAFSA) which allows them to access federal grants, work study and loans. Once submitted, students will receive their Student Aid Report detailing their eligibility for these sources of funding.
New Hampshire’s community colleges recently announced the Promise Program, which provides need-based financial assistance for students enrolled in courses that are part of an academic degree or certificate program. Potential recipients need to complete the FAFSA, be eligible for a Pell Grant and enroll in at least six credits per semester. Funding for the Promise Program was included in the biennial budget passed by the New Hampshire Legislature and signed into law by Governor Sununu.
Payment Plans
You can certainly pay-as-you-go for college from savings or through payment plans you set up with the college. Tuition is charged each semester and payment plans are set up accordingly. Payment plans allow you to spread tuition costs over the course of several months, which helps students manage their budget and money.
Today’s students have told us they don’t want to be in debt so they’re choosing to start their college education at a community college where they can live at home, work and save money. Some will go right to work, while others will transfer to a four-year college or university.
— Suzanne Groenewold is the Director of Enrollment for River Valley Community College
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