SAN DIEGO (KGTV) — As local students receive their financial aid awards for schools like San Diego City College, many high school seniors are trying to figure out how to cover the leftover costs of higher education before acceptance deadlines approach.
For first-generation college student Andrea Dona, getting accepted into San Diego State University was only half the battle. The biggest hurdle was figuring out how to pay for it.
"My parents didn't know anything about college. They hadn't even graduated high school. Therefore, it was difficult trying to see what I was going to do after high school," Dona said.
Dona received some financial help, but it was not enough to cover all her expenses.
"They got enough for me to cover my tuition, but not really anything other than that. So that's when I started to look at scholarships, maybe even loans," Dona said.
According to CollegeBoard.org, the average in-state tuition at a four-year public university is just under $12,000 per year, while out-of-state tuition is near $32,000. For junior colleges, in-state tuition averages close to $4,000 a year, and out-of-state costs are just over $8,000. Across the board, costs vary depending on the state and the type of school.
Navigating the financial aid process can be overwhelming. Thomas Holcomb, the program manager for Reality Changers, a nonprofit that helps first-generation college students with college and career planning, said students should carefully review their financial award letters to understand what is being offered.
Holcomb recommends mapping out expected costs, including housing, food, and books. The average cost for books and supplies is about $1,300 a year. On-campus housing averages under $13,000 a year, while off-campus housing reaches close to $15,000.
"So, financial aid award letters, you want to look and see what the net gap is. So ideally you want to get it down as low as you possibly can to make, you know, affording higher education possible, right? So then if you don't have that, what do you do? Then you turn to loans, additional financial options like grants and scholarships, and outside foundations," Holcomb said.
If students turn to loans, Holcomb said it is crucial to understand the repayment options. Defaulting on a student loan comes with new changes that can impact much more than a credit score.
"It can affect your hiring and getting a job. It can affect your wages. They can garnish your wages. Also can affect your equity and your housing, and opportunities. So really it's important to understand the costs and the risks," Holcomb said.
To avoid heavy debt, Holcomb suggests students start applying for scholarships as soon as they enter high school because there is a lot of money available.
"Opening up an external website that ones we recommend, where you can get external scholarships like Fastweb, Niche.com, Unigo, all three of those are great sites that have been vetted that have a lot of robust scholarships," Holcomb said.
Relying on high school counselors and these financial tips has set Dona up for success as she works toward her goal of getting a bachelor's degree in political science.
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