These days, the average annual cost at a four-year college ranges from $9,410 at a public institution to $32,410 for a private college. On average, college is becoming 6% more expensive every year. The average graduate in 2016, racked up $37,172 in student loans.
Americans owe more than 1.45 trillion in student loan debts, spread out among approximately 44 million borrowers.
Finding the right college is a financial decision, as much as, it is an academic decision. There are many costs associated with college education including:
- College tuition and fees
- College room and board costs or transportation costs for students how live at home
- College book costs
- Lab fees and supplies
The concern about college debt is a REAL concern for most students.
Fortunately, many colleges and universities in California offer financial aid packages that include:
- Work study programs
Generous financial aid packages allows many students to attend the college of their dreams. In this article, California College Bound explores the colleges who are notorious for assisting students with the financial requirements of receiving an education.
California State University, Los Angeles
California State University, Los Angeles offers six department specific scholarships and 20 scholarships funded by private companies and organizations. The university, also, offers five Emeriti Fellowships. California State University, Los Angeles students are illegible to receive California A or California B grants. The two grants, provide an annual stipend to students who demonstrate financial need.
California State University, Los Angeles Student’s Financial Aid at a Glance:
- 82% of students at California State University, Los Angeles receive some financial Aid.
- 76% of students get grant money, which is 3% higher than the average for the public schools’.
- Average grant for students at California State University, Los Angeles is $9,979. This amount is $2710 higher than the average for public schools.
- 57% students get school grants, a fraction that is 11% higher than the average for public schools.
- The average school grant at California State University, Los Angeles is $5343 that translates to $976 higher than the average for public schools.
- 32% of the students don’t have any loans. This is 26% lower than the average for public schools, which is at 58%.
California State University, Los Angeles gives more financial aid than other public schools as well as award values.
California College Bound has established that 66% of students attending Pomona College receive financial aid. Pomona College is one of the few institutions that practice need-blind admissions and provides need-based financial aid. In other words,
any student who feels that they may need help paying for education can apply for aid. The financial aid packages at Pomona College is comprised of grants, scholarships a work striped.
In 2017, Pomona College was ranked #1 best financial aid by the Princeton Review, in its colleges that pay you back.
Pomona College Financial Aid at Glance:
Tuition fees $43,580
- 68% of students at Pomona College receive financial aid.
- The average grant award at Pomona College is $39,595.
This is $2,3107 higher than the average for private schools.
- The average school grant at Pomona College is $35,988. $22,189 higher than the average for private schools.
- 28% of Pomona College students have loans.
This figure is 38% lower than the average for private schools.
The college has a robust financial aid program, and the chances are that if you attend Pomona College, you will not have to take out loans.
California Institute of Technology
The average first-year financial aid award at California Institute of Technology is $42,091. More than 55% of first-year students receive financial aid, the majority of which are grants and scholarships. California College Bound confirms that California Institute of Technology is in the 20th percentile of all colleges nationwide for financial aid.
California Institute of Technology Financial Aid at Glance:
Tuition cost $41,538
- 73% of students at California Institute of Technology receive some form of financial aid.
- The average grant award at California Institute of Technology is $32,074, which is $15,586 higher than the average for private schools.
- The average school grant at California Institute of technology is $30,264. This amount is $16,465 higher than the average grant for private institutions.
- 27% of students at California Institute of Technology have loans. This loan percentage is 39% lower than the average for private schools.
California Polytechnic State University, Pomona
California Polytechnic State University, Pomona students are eligible for more than 300 needs – and – merit-based scholarships offered through the university. Students may also qualify for tuition assistance from the university grant.
California College Bound has established that students from underrepresented minority groups at Cal Poly Pomona are eligible for scholarships available through the university office of student life and culture.
California Polytechnic State University, Pomona Financial Aid at Glance:
Tuition $7, 7016
- 68% of all students receive some form of financial aid.
- 36% of the students receive school grants.
- The average school grant award is $4525.
- 43% of students graduate without
Stanford University is known for admitting US undergraduate students regardless of their ability to pay. Parents with under $125,000 a year in family income are not expected to pay anything towards tuition. Also, parents with incomes of less than $65,000 are not supposed to pay tuition, room or board
However, students from low income earning families who receive these benefits must still come up with $5,000 a year from initiatives, such as work-study and summer jobs. This requirement cultivates responsibility in the students.
Stanford University Financial Aid at Glance:
- Stanford University’s average financial aid plan for first-year students is $51,148.
- Nearly 50% of freshman student receive financial aid, mostly in the form of scholarships and grants.
Fact: California College bound has established that at Stanford University, more than 75% of the students graduate debt free.
Research shows that there are currently 37 million Americans with outstanding college debt. Choosing your college wisely may save you from being part of this static. Consider the strength of the financial aid of the university that you desire to attend. Good financial aid is helpful for the short term and not burdensome in the long term.
Grants scholarships and low-interest loans qualify for good aid. Information is power and California College Bound has information available to assist students in make a prudent decision.