By Denise Yost
Managing Editor, nbc4i.com
Published: February 6, 2009
COLUMBUS, Ohio —The weight of paying for college is a burden many families are shouldering right now.
It’s no secret that the economy is making it harder to pay tuition and now colleges are offering fewer avenues for financial aid.
NBC 4‘s Candice Lee reported with FAST FACTS:
• There is a limited number of grants and scholarships.
• The number of applicants has grown 10 percent so far this year.
• Many banks are getting out of the student loan business because it’s too risky.
The bottom line for college bound seniors may come down to public vs. private.
Universities like The Ohio State University seem better prepared to meet the needs of incoming freshmen when it comes to paying their tuition.
At Otterbein College in Westerville, recent cuts in state funding stands to cost the private liberal arts college more than $1 million for students.
More important than ever, financial aid experts said is the Free Application for Federal Student Aid—FAFSA. Filled out properly before the Feb. 15 deadline, it could yield families plenty of help, even if they do not qualify for aid at this time.
As for scholarships and grants, OSU and Otterbein officials said they are OK for now, but if the recession drags out, things could get tight.
As seen on NBC4i.
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