How to calculate exactly how much college you can afford

The video discusses the evolving costs of college education, emphasizing the importance of understanding both direct and indirect expenses. It highlights various financial aid options, including scholarships, grants, and loans, and stresses the need for thorough preparation of financial documents. The video guides viewers on budgeting, calculating aid, and understanding loan implications. It also provides tips on searching for scholarships and making informed college decisions by comparing financial aid offers and planning for all four years.

What are considered direct costs when planning for college expenses?

• Scholarships and grants

• Loan interest rates

• Books, supplies, and travel

• Tuition, fees, and room and board

Which of the following is NOT a form of financial aid mentioned in the video?

• Grants

• Credit cards

• Scholarships

• Work-study programs

What is the purpose of the Student Aid Index?

• To compare different college programs

• To find the best scholarship opportunities

• To calculate the amount of federal student aid you may receive

• To determine the cost of tuition

Why is it important to plan out the numbers for all four years of college?

• To decide on a major

• To get a full picture of the total cost

• To avoid overwhelming yourself with work

• To ensure you have enough supplies

What is a recommended strategy for starting to save for college?

• Wait until you receive acceptance letters

• Start saving 10 years ago or as soon as possible

• Only save if you plan to attend a private school

• Rely solely on student loans