Unlike wages, college tuition rates are apt to increase in economic boom and bust times alike. Yahoo! Finance expert Farnoosh Torabi suggests that you think creatively about paying for college, consider what you can afford, and
- Apply to college based on a school’s financial aid policies. Apply for grants and scholarships, and do not discriminate. Apply to many.
- Consider going to college part time and working, or skip a year to work and save for school.
- Look into federal government student loans. Compared with private loans, a federal loan offers more flexible payment options and lower and fixed rates.
The federal government is also a student loan provider, and has much more flexible payment options and lower and fixed rates compared to private loans, Torabi says.
Are you or your loved ones struggling to pay for college, or have you considered college unworthy of the steep investment? Tell us your story in the comments.