College Student Loan News and Info

College Degrees worth their price tags?
By Amy Lilly for Student Loans.Net

Is a college education worth the price a student pays for a degree these days? While the cost of higher education continues to escalate, many contemplate this very question and we’d like to know what you think. Financial experts point out that a college education can be a huge risk to take on for low-income families. They are also quick to note federal college aid programs that provide grants and subsidized educational loans to those families.

In the long run, the U.S. Census Bureau provides statistics supporting the fact that a college degree is worth the price a student pays in tuition and other associated fees. The Census Bureau recently reported that on average, high school students make an aver of $1.2 million in their life time. College students who complete their associate’s degree average $1.6 million and students with bachelor’s degrees boast lifetime earnings in the $2 million arena.

Compare those numbers to the price for a college education and venture for a diploma starts to make sense. On average, a public four-year college education costs $8,500 per year, according to the U.S. Department of Education. In all, a student seeking a bachelor’s degree through a public post secondary institution will fork out approximately $34,000 to earn an additional $1 million during his or her professional career.

For some U.S. families, $34,000 is considered a high price to pay for a diploma, even despite the obvious benefits. That is why the Department of Education offers federal loans and grants for low-income families. Federal funding can be applied for using the governments Free Application For Federal Student Aid (FAFSA).

Through the Federal Pell Grant program and Federal Stafford Student Loans, qualifying applicants can significantly lower the amount of funds they must invest to make their college journey successful. Specific information on federal student loans and grants can be found at FederalStudentAid.ed.gov.

Some students may want to seek their college education from a private four-year institution. This route can be considerably more expensive. Again, the student can apply for federal student loans and may qualify for grants or loans depending upon financial need.