The Cost of Education

Whether you have already chosen a college or you're still trying to decide, this is a good time to figure out what it will cost and how you'll pay for it.

Each college's financial aid office can provide information to help you figure the expenses. Don't be discouraged if the cost of continuing education seems too high—financial aid is available for students who qualify.

Financial aid is a general term for any financial assistance given to a student for any type of postsecondary education (four-year college, two-year college, trade and technical schools).

Generally, financial aid is divided into two groups:

  • need-based financial aid
  • merit-based financial aid

There are several types of financial aid and a variety of sources of financial assistance. Remember, not all aid is based on financial need. Some awards are based on academic performance or selected skills.

Students looking at books

The cost of education includes:

  • tuition and fees
  • room and board
  • books and supplies
  • transportation
  • other personal expenses