Paying for college without parental help

By HOPE HAMASHIGE, Special Advertising Sections Writer

Just about every year, whether through tuition hikes or increases in the cost of living, the price tag of a college education edges upward. This fact can be daunting, particularly to those prospective students with little in the way of financial resources.

But, the ever-increasing cost of a college education should not throw anyone off the path of higher education. Both students and financial-aid officers say a degree in higher education is within reach for anyone who is willing to do a little advanced planning.

Zoheb Hooda, now a senior at UC San Diego with a double major in management science and political science, started planning for his college education when he was a freshman in high school.

Hooda, 20, who was raised in Northridge, knew his parents wouldn’t be able to pay so he learned about the different loan programs, how to qualify for grants and work-study programs by reading the information posted on such sites as Fastweb. com and collegeboard.com.

One of the most important messages he learned was a simple one: Don’t be late.

Meeting deadlines for financial aid is not just important, noted UC Irvine’s director of financial aid Brent Yunek, it is critical. It also is one of the most common pitfalls among new students, he said.

Student aid comes from a variety of sources, including the federal and state governments, colleges and universities and private scholarships. Applying to all of these starts with one application: the Free Application for Federal Student Aid, which determines the amount of aid students are eligible for.

At most colleges, however, the money is doled out on a first-come, first-served basis, so not getting forms done on time can cost students thousands. Many private colleges require a second form, called the CSS Profile.

Hooda said he applies every year at the earliest possible date to make sure he gets the best-possible award.

He figures the $20,000 a year he needs breaks down like this: grants cover 40%, loans cover 40%, 15% comes from a work-study grant and he contributes the final 5% from money he earns working two jobs during the summer break.

Ashley Reese, a junior at Cal State, Northridge, found help reaching her college goals in an unlikely place: church.

“There was a year-long college-mentoring program and they walked us through every part of applying to college and applying for aid,” said Reese, 20, who said she knew nothing about financial aid before attending this course through Bethel AME Church in Los Angeles. Reese, who is from Los Angeles, chose the relatively inexpensive Cal State system because her parents cannot contribute to her education and, since she wants to attend graduate school, she does not want to have a lot of debt at the end of the first four years.

Her church mentors walked her through the intricacies of the complicated FAFSA form. From that, she receives about $2,500 in state and federal grants annually. It also made her eligible for about $5,000 in work-study and $2,000 in loans to cover her costs.

She noted that as daunting as paying for a college education can seem, it is a good experience.

“I’m going to have to start budgeting my own money some time,” Reese said. “It’s also worth it if I get better jobs and have a better life.”

Studying at the more expensive University of California, Hooda said he tries to find creative ways to save money. In summer, for example, he attends community college, where fees are far lessexpensive. “I get credit toward graduation because UCSD accepts the credits and the courses are a lot cheaper,” he said. As a result, he is going to graduate early.

Looking back at high school, there is one thing Hooda said he should have done, but didn’t: take more courses in high school that count toward college graduation.

UCLA’s Director of Financial Aid, Ronald Johnson, added students should discuss their needs with their college’s financial-aid office.

In addition to helping students fill out forms, financial-aid staff can point them in the direction of other resources.

“There is a host of scholarships available,” Johnson said. “There are scholarships based on geography, employment, the major. Our message is that there is something out there that is going to help you.”

While it is true that many students will have to work while in school and take out loans, financialaid experts note that the debt is worth the degree.

The American Council on Education’s research shows the amount of debt most students accumulate at the end of four years has grown steadily. At the end of 2004, their statistics showed the median amount of debt most college graduates accumulate totaled $14,671 at public universities and $17,125 at private universities.

On the other hand, college graduates stand to earn much more money over their lifetime than high school graduates. According to research conducted by the College Board, typical college graduates with four-year degrees earn 73% more than people who only finished high school. People with advanced degrees can earn up to three times as much, on average, than a typical high school graduate.

“Overall, our message is that the costs are manageable for all income levels and that the education is worth it,” Yunek said.

Hope Hamashige is a freelance writer based in Denver.

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