Planning helps college students avoid debt
Maryjane Bowden
With Arizona tuition costs increasing 2.2 percent from last year, students can expect to pay anywhere from $95-$1,404 more than in the 2006-2007 school year. Increasing costs means students must find ways to supplement these fees without breaking the bank.
For those who just can’t seem to make ends meet and would prefer to stay out of debt as much as possible, several financial options are available.
When eligible, government funded grants can provide students with thousands of dollars to use towards their post high school education.
Unlike loans this money does not have to be repaid.
Austin Garrard, a sophomore at MCC, has taken advantage of the government issued Pell Grant in order to cover his educational costs.
“I stay out of debt by putting the money I earn into investment accounts, and using grant money to pay for school,” Garrard said.
To recieve one of these grants there are several requirements that a student must meet.
For example, the Pell Grant requires that the applying student’s overall earnings for the previous year totaled less than $20,000.
Additionally there is a fee for applying for these grants ranging from $90-$160.
For those who do not meet grant criteria, or don’t have the extra cash to cover these application fees, there are other options.
Planning a realistic budget, saving a percentage of all income, staying away from high interest credit cards, and investing money when it’s available are ways MCC students have kept themselves away from large amounts of debt.
“I just don’t spend more money than I have. It’s as simple as that, if I don’t have the money for something I won’t buy it, and my parents help me out with tuition,” Andy Centner, an MCC freshman, said.
There are also hundreds of scholarships across the country that aid in paying for school costs, that are commonly looked over by students.
Some of these scholarships include one for women who are over 6 feet tall, one for students with red hair, as well as scholarships for those with a foreign background.
Contacting a school about possible scholarships, or grants may save students hundreds of dollars on tuition and books.
MCC’s financial aid office offers student several resources to help in searching for grants.
Advisers urge students to try and save at least a small amount of money each month, even if it is only $20.
