Figuring Out Finances
By May 1, you should receive letters from the colleges you’ve applied to, letting you
know if you’ve been waccepted. If you get in – congratulations! You’ve completed a
huge step in the process.
It’s also just the beginning. College education in the U.S. can be extremely expensive,
and you’ll need to go over your finances carefully to ensure that you can afford to attend.
You’ll get a document called a “financial aid offer,” “award offer” or “award letter” along
with your acceptance. That will break down how much it costs to go to your college, how
much financial help they can give you and how much you’re expected to pay.
The amount you’re expected to pay can come from any source: your family’s savings,
wages from your job, gifts from your high school graduation – and scholarships. The more
scholarship funds you can earn, the less you’ll have to pay out of pocket. That can mean
the difference between affording college and not being able to pay for it. Scholarships
are a huge potential benefit, and we’ll spend the next section looking at them in detail.
For many students in the U.S., searching for scholarships is almost like a part-time job – it
takes time, diligence and concentration, but the hours you spend doing it can pay off!
Here are the four places we recommend you start seeking scholarships to pay for your
American college experience.