Tuesday, September 20, 2022

How To Pay For Free College

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Tax Wall Street Gambling To Cancel All Student Debt And Pay For College For All

FREE MONEY FOR COLLEGE!! How to Pay For College: Part 1 – Scholarships

We can guarantee higher education as a right for all and cancel all student debt for an estimated $2.2 trillion. To pay for this, we will impose a tax of a fraction of a percent on Wall Street speculators who nearly destroyed the economy a decade ago. This Wall Street speculation tax will raise $2.4 trillion over the next ten years. It works by placing a 0.5 percent tax on stock trades 50 cents on every $100 of stock a 0.1 percent fee on bond trades, and a 0.005 percent fee on derivative trades.

If Wall Street can be bailed out for several trillion dollars, 45 million Americans can and will be bailed out of the $1.6 trillion burden of student loan debt and we can provide free college for all. Some 40 countries throughout the world have imposed a similar tax, including Britain, South Korea, Hong Kong, Brazil, Germany, France, Switzerland and China.

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What Countries Offer Free College

America is suffering from a student loan debt crisis that seems to get worse every year and it has left a lot of people scratching their heads. Close to 45 million Americans currently have student debt and the total of that debt has exceeded $1.56 trillion. One of the ways that politicians, policy-makers, and advocates have suggested that we solve this crisis is by implementing a free college program and forgiving student loans. While a majority of voters seem to support free college programs, solving the problems brought on by the rising cost of college can seem insurmountable. What you may not know is that several countries around the world have already expanded public education to include four-year colleges and universities. In this short guide, were going to take a look at those countries and explain how free college works for them.

The Surprising Cost Of Bidens Free College Tuition Plan

Joe Biden wants to reshape student loans and higher education. As outlined on the Biden campaign website, his agenda includes everything from partial student loan debt forgiveness to a free college education for some. One thing missing from the website, however, is the cost of his education plan.

According to the WSJ, the Biden campaign recently said it hasnt calculated the cost of his plan or decided how to pay for it. Not satisfied with that answer, I went in search of any analysis I could find estimating the cost of his plan.

The research uncovered a number of stories claiming that the Biden campaign estimated the cost at $750 billion. Each of these stories pointed to the same page on the Biden website. Most of these stories were written in 2019 or early 2020. The page they point to on the Biden website, however, makes no reference to $750 billion as cost of his education agenda. It also doesn’t indicate how he would pay for his vision.

Fortunately, a website called the Wayback Machine archives past versions of websites. It archived the Biden campaigns education page dating back to October 9, 2019. A review of that page reveals the $750 billion estimate and how he would pay for it:

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Aid For Military Families

Many types of student aid are available to military personnel, veterans, and their families. There are also reserve training programs and scholarships available through most branches of the military.

  • Over 1,000 colleges participate in Reserve Officers Training Corps programs.
  • Army, Air Force, Navy, and Marine ROTC programs all offer scholarships.
  • The Department of Veterans Affairs GI Bill offers education benefits for vets, their dependents, and widows.
  • Children of Iraq and Afghanistan service vets who died in combat after September 11, 2001 qualify for multiple additional education benefits.
  • Low-interest and no-interest educational loans are also available to military personnel and their families.

Consider Private Student Loans

Students answer: Who should pay for my education?

Sometimes private student loans can bridge a college funding gap left after other options have been exhausted. Not only that, but some private education loans come with lower interest rates than federal student loans.

However, its important to realize that youll have to meet credit requirements set by the private lender, and you might even need to find a cosigner to qualify.

Carefully consider whether private loans should be part of your plan to pay for college. These loans dont come with the same protections as federal loans, so you could end up missing out on benefits like income-driven repayment.

Best private student loans for
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Business school

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How Much Does College Cost

The cost of college depends largely on the school you choose to attend. According to College Board, the average tuition and fees in the 2021-22 school year amounted to $38,070 at private nonprofit four-year colleges, $10,740 at in-state public four-year colleges and $27,560 at out-of-state public four-year colleges. The average tuition and fees for a public two-year college, meanwhile, was $3,800.

There are several variables that impact what youll pay for college, including:

  • Tuition and fees.
  • Look into online tuition-free degree programs.
  • Cut Down On Secondary But Significant College Expenses

    Whether you elect to attend a lower-cost school or not, choosing one closer to home could decrease living costs. Living off campus could yield savings, and staying at your family home could reduce costs to near zero.

    Aside from your living situation, look to trim college expenses like food, transportation and supplies. You could ditch the car in favor of public transportation, for example, or rent textbooks instead of buying them.

    Budgeting less money for these college costs could help direct more of your financial aid toward tuition and fees.

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    Veterans & Military Benefits

    Former & active members of the armed forces, and their spouses or dependents may be eligible for education benefits depending on their specific military branch and the benefits they qualify for. The South Texas College Office of Student Veteran Affairs can help guide you through the process.

    Us Merchant Marine Academy

    How To Pay For College (The Right Way)

    The U.S. Merchant Marine Academy in Kings Point, New York, gives its graduates a wider range of career choices than the other military academies. All students must perform some sort of service after graduation, but they have a choice about what kind. They can either spend five years on active duty in any branch of the armed forces, or they can spend five years working in the maritime industry and eight years in the reserves.

    Students at the Merchant Marine Academy, known as midshipmen, do not pay for tuition. However, they do have to pay fees of about $2,200 a year to cover expenses such as a laptop for their classes. They can apply for need-based financial aid to help cover these costs.

    The Merchant Marine Academy is known as the most academically rigorous of all the service academies, requiring the most hours of coursework for a degree. It accepts 15% of all applicants, and 64% of them go on to graduate. There are about 900 midshipmen enrolled at the academy, and 70 professors. U.S. News ranks it as #3 among regional colleges in the North.

    In addition to their coursework, all midshipmen at the academy must complete a Sea Year. They spend this year working on a commercial ship and traveling to ports around the world. At the end of their four years, they earn not only a B.S. degree but also a U.S. Coast Guard license and an officers commission in the Armed Forces.

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    Ask Your School For Additional Funding

    Once youve settled on your school of choice, dont necessarily settle on the initial financial aid award package.

    It may behoove your family to contact your campus financial aid office and ask for more support. According to experts, there are three occasions when you could successfully negotiate your aid package:

  • Your Expected Family Contribution pumped out by the FAFSA is no longer accurate because your household finances have changed
  • Your academic record has improved, potentially making you a stronger candidate for school-sourced, merit-based aid
  • You have a better offer from another school, and your preferred school could have the purse strings to keep you in the fold
  • If you receive aid packages from multiple schools, compare them side by side to confirm which offer is the most generous.

    How To Pay For College Basics

    If it seems that paying for college has become more challenging than getting into college, youre not alone. Rising tuition costs have families across the country asking the question, how to pay for college? Financing a college education can be a painstaking, stressful process. Franks here to help ease the burden so students can concentrate their energy on one of lifes most rewarding and enriching experiences.

    Filing FAFSA® as the first step for claiming your aid

    Every year, a new wave of students and families scramble to figure out how to fill out the FAFSA®, the Free Application for Federal Student Aid, the first step to getting federal financial aid.

    Filing a FAFSA® form is the first step towards paying for college, and its often the most difficult step. Frank set out to change that. Our online version of the application takes about 7 minutes to complete all you need is your personal information, your family information, and your financial information.

    When you file your FAFSA®, youre automatically applying for federal grants , loans and scholarships to pay for college. In addition, many colleges will use the FAFSA® to determine if a student qualifies for funding provided by the school and the state.

    You have many options when it comes to closing the gap to pay for school

    Filing your FAFSA® is the first and most important step to getting your aid, but there are many more sources of aid than you may think.

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    Is Free College Really Free

    Countries that offer free college to their students, whether theyre citizens or international students, still have costs associated with attendance. Students are largely still responsible for covering different fees that come along with their courses or exams. Those students also still have to pay for their housing, books, and other materials associated with earning their degrees.

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    Apply For Private Scholarships

    Why Am I Paying $110,000 a Year in College Tuition ...

    There are thousands of private scholarships out there from companies, nonprofits and community groups. Ask your high school guidance counselor or use a free online service like Scholly that suggests scholarships you might be eligible for. A company called NextGenVest offers a free mentor who can also suggest scholarships, as well as help you understand your aid award.

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    How To Pay For College: 6 Ways To Cover Your College Costs

    Everyones financial situation is different. Attending college is a big financial decision for you and your family. Being accepted into your school of choice is cause for celebrationso dont let the price tag damper your excitement. When its time to start planning how to pay for college, there are many resources to help you find a financial plan that works for you and your family and help you pay for college.

    Most students qualify for . Whether you come from a military family, have stellar grades, or demonstrate financial need, there are loans, grants, and scholarships that are designed to help you achieve your goals.

    To get a better idea of your options, check out our list of six ways to pay for college:

    Turn To Family And Friends

    Are you comfortable asking for help with tuition or accepting monetary help from generous family members or friends? Make sure any benefactors know about qualified transfers.This arrangement allows individuals to pay an unlimited amount of tuition directly to a qualified institution of higher learning on your behalf without being subject to the gift tax. The education exclusion allows the donor to help you out and avoid any tax burden at the same time. You and the one with the checkbook should consult a tax advisor before entering into this arrangement.

    PROS

    • Knowing someone is in your corner can help motivate you in pursuing your degree.
    • Your college costs are reduced.

    CONS

    • Sometimes such gifts can come with strings attached. Make sure you’ll maintain autonomy over your course of study and that there are no objectionable expectations before you allow someone to pay your bill for you.
    • It can be hard to know whether you can depend on regular tuition payments from this source. A change in the donor’s circumstances or a falling-out can mean you’re on the hook for the tab when you weren’t expecting to be.

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    Look Into Grants And Scholarships

    Getting paid to go to school is only one of many options out there for those looking to go to college for free. There are also numerous grants and scholarships available for students in need. You are best off searching and applying for as many as you can. They generally dont cost anything to apply, and the more times you try, the better your chances are!

    Its important to note that once you are already enrolled in a college program its generally easier to apply for grants and scholarships. Many businesses and philanthropists have made donations to colleges in order to offer more scholarships for minorities, low-income workers and single parents. A scholarship is an incredible gift that allows deserving students to go to college for free.

    Pay Cash For Your Degree

    FREE Money For College (How To Pay For College 101)

    Using your own money that youve budgeted for specific purposes is always the best and wisest approach to paying for anything. And that includes college. If youre the parent of younger kids, now might be a great time to begin saving for their education. But if youre getting closer to campus drop-off day and havent saved a dime, dont panic! I have plenty of tips for you.

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    What If I Have To Take Out Loans

    If youve done everything you can to go to college for free and you still have to pay for some of it, there are student loans to cover the financial gaps.

    Whether you borrow federal or private student loans, take out only what you need. A student loan is money that you must repay with interest. The more you borrow now, the more youll end up paying back after you graduate or drop below half-time enrollment.

    Federal student loans are available when you complete your FAFSA and offer flexible repayment terms, like income-driven repayment plans, forgiveness options and deferment and forbearance. If youre still struggling to pay for college even after youve reached your federal loan limit, you might need private student loans, which have low interest rates but fewer protections.

    If this is the case, its important to shop around with a few lenders before applying for your student loan to keep your costs as low as possible.

    Apply For Grants And Scholarships

    There are thousands of programs, institutions, companies and organizations that give away free money. Grants are based on need, while scholarships can be based on a number of qualifiers, including academic and athletic merit.

    You can apply for grants and scholarships at the federal and school level when you complete your FAFSA. Ask your high school guidance counselor or college financial aid office if youre eligible for any local programs or apply for scholarships offered by specific colleges.

    To find independent scholarships, you may also use online tools like Scholarships.com,Fastweb and the College Boards scholarship search. You can customize your search based on any number of factors, including but not limited to:

    • Race.
    • Religion.
    • Physical disabilities.

    The earlier you start your search, the more free money you could qualify for. Many grants and scholarships are available on a first-come, first-served basis, so the sooner you apply, the more money you could score.

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    Apply For Financial Aid And Grants

    • Potential savings: Varies

    If youve exhausted your scholarship search, applying for federal financial aid and college grants should be your next step. Like with scholarships, grants dont have to be repaid.

    Depending on the cost of the school you attend, your total financial aid and grants could add up to the full cost of attendance.

    What grants could I get?

    For example, if youre an undergraduate student with financial need, you might qualify for a Pell Grant. For the 2020-21 academic year, the maximum you could be awarded with a Pell Grant is $6,345.

    To apply for federal aid and determine your eligibility, youll need to fill out the Free Application for Federal Student Aid . The information you provide in the FAFSA is used to calculate your Expected Family Contribution , which is the amount your family is expected to contribute to your education costs.

    Your EFC, year in school, enrollment status, dependency status, and schools cost of attendance will be used to determine the aid you qualify for.

    After you submit the FAFSA, your school will send you a financial aid award letter detailing what financial aid is available to you. You can then choose which aid youd like to accept, such as grants and federal student loans.

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    Attend A Community College With A Free Tuition Program

    How the average family pays for college

    There are many community colleges that now offer free tuition programs. The Tennessee Promise Program was the first statewide tuition-free community college program in the U.S. Other states, like Oregon, California, New York and Washington, have implemented similar programs.

    For many states, you have to graduate from a high school in the state and enroll full time to qualify for the free tuition program. You may also have to commit to staying in the state for a number of years after graduation. Along with that, there are some things you might still have to pay for, like textbooks, supplies and room and board.

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