Paying for College During COVID

BY SUZANNE SHAFFER

With nationwide shutdowns and changes in employment, the pandemic has impacted many families financially — including their ability to pay for college. If you find you are short on funds to pay for your student’s education, use these tactics before you decide to take out loans.

Contact the College

Your first stop in securing additional funding is the college financial aid office. If your family situation has changed (loss of income due to COVID-19), your EFC (Expected Family Contribution) will change as well. That simply means that the college may be able to offer you additional funding (a grant, or perhaps your student now qualifies for work study) to supplement your current financial aid package. The office will require documentation to initiate a change, so be prepared to provide it.

When contacting the college, be sure also to ask about any scholarships or grants offered from specific departments or majors on campus. Your student can contact professors within their major area of study to ask if they know of any grants or scholarships available to current students.

Search for Outside Scholarships

Students should always be searching and applying for outside scholarships! There are scholarships available for current students based on specific majors, areas of interest, ethnicity and more. Given that it’s almost summer, your student can start by doing a Google search for “scholarships with extended deadlines” — insert your city or state as well. They can also search using specific criteria such as scholarships for science majors or scholarships for college sophomores.

Did you know the federal government provides a searchable list of scholarships? The Department of Labor’s CareerOneStop website features more than 8,000! Your student can highlight results according to their degree level and the location of their home and school.

Here are a few more websites to explore: Scholarships.com, CollegeScholarships.org, Cappex.com and Unigo.com. And don’t forget to search locally. Ask family and friends. Listen to the news. Pay attention to local bulletin boards and businesses.

There are grant programs designed to benefit every kind of student in every area of study. Thousands of organizations, both public and private, provide grant money in varying amounts to students who are struggling to cover their college tuition.

However, finding the right grant program takes time, research and commitment. Your student can search online and at the library. Proper research will help lead you to the grant you need. There are need-based, merit-based and career-specific grants. When searching, be specific. For example, if your student is a Hispanic female attending college to become an accountant, search for grant programs dedicated to Latin-American female students enrolled in business and accounting studies. Many grant programs are found in unlikely places. As your student digs deeper, they may uncover funds that have not yet been claimed. To get started, check out these lists provided by CollegeScholarships.org: • 101 College Grants You’ve Never Heard Of • Education Grant Benefits and Opportunities If they haven’t already, your student should also pursue grants provided by state education departments. Student Loan Hero has compiled a list of each state education website along with the grants offered by each in their Guide to State Grants and Scholarships. • Graduate early. If your student earned AP or IB credits in high school, or earned credits through concurrent enrollment, be sure they make the most of them. Enrolling in summer session courses (typically less expensive than a regular term) can get them to the goal faster. Even saving one semester’s tuition will be significant. If your student will take summer classes someplace other than their home institution (a local community college, or online), make extra sure that the credits will transfer. • Apply to be an RA after freshman year. Resident Assistants typically get free or reduced price on-campus housing — a huge savings. • Use the services you’re already paying for. Stick to the meal plan rather than spending on takeout. Use public transportation provided by the university (or ride a bike) instead of keeping a car on campus. Drop the paid gym membership and work out at the campus rec center instead. • Live at home. If your student attends school within commuting distance, they could save by living at home — even if just for a semester or two.