Counselors give advice reducing college debt

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Starting college can be an exciting new experience for many high school graduates.

However, if you are not aware of how to acquire the least amount of debt possible, the years after college may not be as fun.

Over time, the cost of college has increased drastically.

According to the CBS News, the main reason why the price of college has inflated so much was the recession.

Fewer people had money to go to college and the funding for public universities dropped drastically.

This led to a jump in the amount that colleges had to charge per student.

To keep the cost as low as possible, it is a good idea to decide your major early and stick with it.

Many students who decide to change their majors end up having to attend college for five years instead of the typical four.

This is because they end up paying for classes that do not correlate with their majors and then they have to take more classes to catch back up.

To counselors Mrs. Corrine Walworth and Mrs. Karen June, one of the most important factors in depleting your potential debt is financial aid.

Financial aid is gift money that you do not need to pay back.

Walworth said, “This (financial aid) would include need-based scholarships, grant money, and work study.”

Grants often come from government departments, corporations, foundations, or trusts.

These are funds students are not expected to pay back, but they generally must apply for them with some kind of written essay.

When applying for financial aid, students should already have their top colleges narrowed down.

June said, “When they (students) apply for financial aid, they need to indicate the colleges they are most seriously considering so that the FAFSA information will be sent to those colleges.”

These schools will then contact you about how much financial aid you will be receiving.

However, families with a high income tend to not receive as much financial aid.

If this is the case, students may want to consider attending community college for one or two years then transferring to a university.

Starting at Mott Community College or UM-Flint gives students an opportunity to get several of their prerequisites out of the way for a lower cost.

But some people may not want to do this.

After being home for almost 18 years, it is no secret that many students want to leave town and experience college in a different city. But students who choose this path may end up with much more debt in the long run.

There are several more routes for students to look into to prevent the buildup of debt.

For all students, keeping a high GPA and testing well on the ACT or SAT can lead to scholarships.

“In addition to completing the FAFSA form, students should investigate other scholarship opportunities such as merit awards given directly from the college, scholarship databases, (like) the CollegeBoard, Financial Aid, and Sally Mae College Answer, and local organizations,” Walworth said.

Along with Kearsley, many colleges offer scholarships to graduating seniors.

To receive decent scholarships, a GPA of 3.5 or higher and an above average ACT or SAT score is recommended.

The main way of preventing college debt is research and hard work.

There are several ways to receive scholarships, grants, and financial aid. Students just need to put in the work to find them.