college

6 reasons why college is expensive

Reason No. 6: Yikes! More tuition hikes!
7 of 7
Back
Reason No. 6: Yikes! More tuition hikes!

If your school is imposing a significant tuition increase, you could be in the clear.

"When we process financial aid, we look at a student's total cost of attendance, so as the costs go up, their financial aid might go up accordingly," says Gottardy.

Every campus won't have the resources to meet increased student need. But Johnson says that students can prepare by investigating whether their school has a tuition lock program. Available at a handful of institutions, tuition locks allow students to lock in one price during their freshman year that they will pay for all four years, regardless of how much tuition increases. If your school doesn't have a tuition lock, students can counterbalance a price hike by seeking outside scholarships, pleading their case to a financial aid officer and using funds from a prepaid 529 plan to foot increased bills.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us