Tuition Aid A Students Search

Tuition Aid A Students Search - Introduction It's no secret...

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Introduction I It's no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so, and there's no relief in r sight. Average tuition at four-year colleges will increase 7 percent this school year, s double the rate of inflation. Student aid is not increasing fast enough to plug the p growing gap between tuition and family finances. In addition, there is a growing g number of older students entering college today. These students have families n that they need to support. I know, because I am a family man who has returned r to school. I wish to finish my degree at the Rochester Institute of Technology. T The only problems I face are financial in nature. It is with this in mind that I set t about this research. The not so simple question: Is financial aid available to older t students, and if so, how do they go about obtaining it? s The Cost Of Education T The cost of higher education varies by type of institution. Tuition is highest h at private 4-year institutions, and lowest at public 2-year institutions. The private p 4-year colleges nearly quadrupled their average tuition rates between 1975 and a 1996. For private 4-year colleges, tuition and fees for the 1995-96 academic year y averaged about $15,400, compared with about $5006 at public 4-year colleges. a The cost of attending an institution of higher education includes not only tuition t and fees, however, but also books and supplies, transportation, personal expenses
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e -2 - and, sometimes, room and board. Although tuition and fees generally are a substantially lower at public institutions than at private ones, the other student s costs are about the same. According to MS-Encarta94,"the average cost for c tuition, fees, and room and board for the 1995-96 academic year at private 4- year y colleges was about $20,165. At public 4-year colleges the average combined cost c was about $9290" (Encarta94). w The cost of attending RIT is approximately $15700 per year. This does not n include room and board, or books, and supplies . This cost falls in line with the t national average. However , according to Rachel Shuman of the RIT Financial Aid A Department,"the increase in cost at RIT was 4.8 percent for the 1996-97 academic a year over the 1995-96 academic year." This falls 2.2 percent below the national n average for 4 year private institutions. Still, $15700 is a lot of dollars for an f unemployed family man or woman with little or no income. u The Cost Of Living Factor T Though the Cost Of Living is not directly related to tuition it is still a major s player in the decision making process. Is it possible to maintain a family financial f structure while paying for an education? The cost of a mortgage, or rent, and other o bills that are associated with living adds up to many thousands of dollars per year. p These costs in addition to what the tuition, books, and supplies total are expected, e and have to be dealt with. a
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a -3 - The financial burden alone can seem over-whelming to some. But
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This note was uploaded on 05/21/2011 for the course ACCT 101 taught by Professor All during the Spring '11 term at Kaplan University.

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Tuition Aid A Students Search - Introduction It's no secret...

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