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  • February 2011
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Paying for College

If you are planning on going to college in the fall (or at any point in the future, really), now is the time to start thinking about how you are going to pay for it.

The average 2009 college graduate carried $24,000 in student debt. That’s just the average: that means that while some lucky people owed less than that, some owed much more. In order to pay off $24,000 in student loans in the required 10 years, you would have to pay a whopping $275 a month–that’s a big chunk of any entry level salary. And in those 10 years you would incur almost $10,000 in interest.

Most people will depend on student loans to some extent to help pay for college, but it is important that you minimize your reliance on loans as much as possible.

That’s why the PHEAA (Pennsylvania higher Education Assistance Agency) recommends that the college bound look into scholarships, grants, and other forms of free money first. Because the less you have to pay back after graduation, the better!

So check out websites like Fastweb and PHEAA, read some of the materials we have at the library, and find yourself some tuition money!



~ Eva, CLP-Allegheny

One Response

  1. Thanks for this great post, Eva! I just wanted to add that you can visit or call the Job and Career Education Center (JCEC), at the main library in Oakland. We have lots of information about getting into school, paying for it, and finding a job.

    http://www.carnegielibrary.org/research/jobsedu/

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