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College Tuition Breakdown: How are You Going to Pay?

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College Tuition Breakdown: How are You Going to Pay?

Deena Kassem, Opinion Editor

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  Out of 152 Wayzata High School seniors surveyed, 45 percent said they are filling out FAFSA or the CSS Profile.
  According to The College Board, in the 2014 to 2015 academic year, roughly two-thirds of full-time students paid for college with some form of financial aid. The College Board website said “57 percent of financial aid dollars awarded to undergraduates were in the form of grants, and 34 percent took the form of federal loans.”
  According to CNBC, the FAFSA completion rate for high school graduates was just 44 percent in 2014. Many students don’t complete FAFSA because they don’t think they are eligible to 120,000,000,000$ in grants, loans, and work-study funds. NerdWallet estimates that students missed out on $2.7 billion in free FAFSA college aid in 2016.
  Out of 151 surveyed Wayzata High School seniors, 11 percent are paying the complete cost of their post secondary education, while 39 percent are splitting the cost with their parents, and 41 percent are having their complete cost covered by their parents.
  Senior Ana Figueroa said, “I will be paying for my education with FAFSA. I plan on working throughout college, but my parents will be helping me with part of the costs. My parents and I haven’t completely discussed it, but I know that I want to help pay for it.”
  Senior Anisha Sharma stated, “My parents are paying for my complete education. I don’t think I will get anything out of FAFSA, but I will be applying for any and all scholarships.”
  According to US News, only 0.3 percent of students receive enough scholarships and grants to cover all their college costs. When looking at local universities and their financial aid, University of St.Thomas said that about 97 percent of first-year students receive merit scholarships that bring the average tuition cost down to $21,000 per year. The cost of one average semester (16 credits) at St.Thomas without any aid is $20,896, not including books, room and board, or any other fees.
  Of students enrolled at the University of Minnesota Twin Cities, in the 2017 academic year, 29,893 undergraduate students had completed FAFSA and recieved aid. The percent of students enrolled with some type of financial aid in 2017 was 84 percent, and 74 percent were enrolled with some type of aid, according to The University of Minnesota, Twin Cities, Student Financial Support website.
  Senior and Sacred Heart University Lacrosse commit Chris Thomas said, “Academics and the connections I could make were more important factors to my decision than tuition cost”.
  15% of Wayzata seniors stated that tuition was the most important factor in their college decisions. 25% stated it was location, 40% said it was programs offered by the school, 13% said student life, while ranking was the most important factor to 8% of seniors.

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College Tuition Breakdown: How are You Going to Pay?