Going to college is an investment in your future; continuing your education after high school can lead to more choices and opportunities; and college graduates are likely to make more money in their lifetime than those who stop their education at high school. But many students believe that the cost of tuition, as well as other college expenses, puts their dream of further education out of reach.
There are five basic costs associated with going to any college; tuition and fees are usually the most significant, but students also have to consider books and school supplies, and room and board. You also have personal and travel expenses to account for in your budget. Most Carrington College students attend a local campus, so additional accommodation costs may not be a concern, but the other costs do need to be factored in to a college budget.
Obviously your financial situation is unique to you; the campus you attend may also impact your budget. For example, thanks to its central location, many students at our Mesa campus go to school relatively close to home. But we also have students who commute large distances every day, which can increase their travel expenses; our Albuquerque campus, for example, is located just off I-25 and I-40, which makes it easily accessible from greater distances in every direction.
Your individuality is why we have applicants schedule an appointment with the Student Finance department before they enroll, to determine their eligibility for financial aid to meet their educational expenses.* We want Carrington applicants to evaluate their individual options for tuition financing.
We participate in a variety of federal and state student financial assistance programs, as well as private third-party financing. Here are a few misconceptions about Federal Student Aid we would like to clarify!
- My parents earn too much… Wrong. Some prospective students think that if their parents earn more than a certain amount, they are automatically disqualified for federal student aid. That’s not the case. There is no automatic income cut-off to qualify for federal student aid; everything from the size of your family, to the age of your parents is taken into consideration.
- My grades aren’t good enough… Wrong again. High school grades aren’t considered when you apply for most federal student aid programs.** However, once you begin receiving aid, you will be expected to keep your college grades up to a minimum standard.
- It’s too complicated to apply… Not the case. Ok, it can seem difficult at times, but if millions of others have managed to apply, so can you. The FAFSA site (Free Application for Federal Student Aid) is very helpful, and you can call a toll-free number to get help over the phone.
There are many sources of free information available to you; make your first stop for more information the Financial Aid section on the Carrington College website; the Carrington College Academic Catalog also has additional information. The Student Guide, published by the Department of Education, explains Federal financial aid programs in detail, and the college.gov website is also a useful resource for those considering college.
Finally, don’t forget to take advantage of resources on campus; speak to your Student Finance Office to learn more about financial aid.
*Financial Aid available for those who qualify. It is the student’s responsibility to complete and submit all forms and/or applications required for all federal, state, and institutional sources.
** State and scholarship aid may require a certain GPA.
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