Making College Happen
How I plan on...
Step 1
Estimating the cost
Before I jump into ways in which I can lessen the financial burden of making college happen, I decided to give myself a general idea of just how heavy the burden will be. Using a nifty college estimator tool provided by Sallie Mae, I found that over the course of four years NC State will demand approximately $100,000. This includes tuition, housing, books, food and other costs I'll need in order to stay at NC State. Those six-digits are going to make paying for college a daunting task, but let's see if we can't make that number a little smaller...
Step 2
Factoring in ap credit
The first step that I have taken in cutting the cost for college is using AP credits to place out of certain courses in college. I've been enrolled in AP classes since the beginning of my Junior year in high school, and by the time I graduate I will have 5 or 6 AP credits depending on how well I do on the AP exams in May. I am currently enrolled in Calculus AB + BC and Computer Sciences, and last year I took US History, Statistics, and Environmental Sciences. I have also taken Japanese one through four, which will allow me to place out of the beginning Japanese classes in college. By using my credits to place out of courses in college, I will be able to cut some courses out of my college schedule, saving time and money.
A step by step plan on how I will make college happen!
Step 3
FAFSA/Financial aid
An important part in making college happen for me is going to be filling out my FAFSA and applying for financial aid. I haven't had a chance to file my FAFSA yet, but I plan to do so before the Christmas break ends on January 2nd. Coming from a middle-income household with five in my family will likely qualify me for some financial aid and federal grants, but definitely not enough for me to depend on it for my college fund. However, any grants that I do receive will be crucial in reducing how much I have to rely on student loans and minimizing my college debt.
The most variable of all the ways in which I can get a head-start on my college fund, scholarships could have a huge impact on the financial obstacle that I face with college. I currently have a 4.0 unweighted and a 4.875 weighted GPA, with several volunteer hours for various clubs, and the willingness to put in whatever it takes to get me to college. Scholarships have the potential to make college happen for me, but that all depends on the effort that I put forth. I've been applying for several scholarships, and I hope that they enable me to take a large chunk off of my college fund.
Step 4
Scholarships
With eight months left until my first day of college, the end of my high school year is coming quicker than I could have ever imagined. After scholarships, grants, and AP credits, it's going to come down to what I can put on the table. In other words, my savings. I plan on getting a job soon after Christmas break ends to put aside a little bit for college, and any odd jobs that I can do here and there will contribute as well. My goal for savings is at least $2,000, that way paying for food and books will be something I can afford on my own. Savings most likely won't have the biggest impact on cutting a slab off my college's financial wall, but a little extra cash can go a long way.
Step 5
Savings
After incorporating the money that I had saved specifically for college, I also have to incorporate any funds that come along while I'm in college, gifts, and anything that helps me break through the financial wall that college has placed before me. This includes having a job while I'm in college, graduation money, and money my parents lend me. My grandparents had also invested in a stock for me when I was born that would be put under my name when I turn 18. Currently the stock is equivalent to a few thousand dollars, but that money is meant for not just college, but for anything that comes along in life when I'm an adult, so that will be put aside as my last resort. Any money that I acquire during college and any graduation money that I receive will be put toward my college fund, and put together with my savings I will hopefully be able to make a dent in the six-digit number that I am at odds with.
Step 6
Miscellaneous
Step 7
student loans
And finally, after using financial aid, scholarships, savings, and any funds that I come across while in college, the final, and hopefully the smallest, factor in making college happen is going to come from student loans. I plan to take out as little student loans as I can in order to accrue as little student debt as possible. Student loans will serve as my last resort of last resorts, however I couldn't leave it out because it may play an essential part in my dream to become an electrical engineer at NC State. With loans helping fund the last bits of the cost of college, I am confident that my plan just might work. I believe that I can make college happen.
After all is said and done, will I be able to make college happen? With confidence, willingness, and excitement, I can say that I will definitely make college happen. Using an estimator tool from Sallie Mae, I was given a rough estimate of how my payment plan may work for college. Many of the numbers used were national estimates, so my conditions may be entirely different, but even with these estimates the cost for college has dropped significantly. From a base amount of $100,000 to an estimated unfunded amount of $20,000, the burden that I face has lessened significantly. Several factors in my college payment plan can change as a result of numerous conditions, for better or worse. However, with my plan in mind and my dreams in sight I believe that I have what it takes to make college happen!