Financing Your Rutgers Education By: Rachel Negro 30 September 2007

What do you mean by “Financing”? Many people do not realize that college costs does not just mean tuition. Books, parking permits,& transportation also fall under this heading. A majority of RUC students are New Jersey residents resulting in a reasonable tuition.

How do RUC students pay for education? Student Loans Parental Support Students’ Own Funds

Student Loans Many students take out loans to pay their college expenses. Student loans are borrowed with the intention of paying interest charges while in school Most students start repaying their loans upon graduation

Student Loans Just the thought of taking out/paying back loans causes anxiety among students. –“I honestly do not know but I do know that my loans are going to hit me hard when I graduate and join the real world. “ Some popular loans include –Stafford Loan –NJ Class –FAFSA Loans

Parental Support Some students are able to attend college through the financial support of their parents and families. –“Fortunately, my parents pay for my education, so it's difficult to comment on the financial aspects of the university. ”

Parental Support Other family members (I.e. grandparents, godparents, aunts & uncles) may have started college funds. –My grandmom was a teacher and wanted nothing more than for my sister and I to go to college so she put money away that would collect interest so we would have enough.” Parents also may take out loans in their names. The student or parents may pay them back after graduation. –“I promised after graduation I will help repay all the loans we had to take out for my education.. But hopefully I will get a full time great job and it will be easy to pay off.”

Students’ Own Funds Many of RUC students pay their own tuition and fees. Those students who choose this option often work full time/multiple jobs along with attending classes. “It can be quite challenging for a full time student to work two jobs in hopes of financing an education and still do well in college.”

Students’ Own Funds “I pay out of pocket for tuition and books. Had a bad experience with loans when I first went to college some years ago. I do receive tuition reimbursement from my job as long as my grades are C or better. I then use that money to pay for the next term. Sometimes it limits how many courses I can take, but I have made out good so far.”

Where do we go from here? Though tuition may not be as expensive as some institutions, all students deserve some type of assistance. Lower fees and costs should be awarded and demanded for higher education

Reimbursement Program Awards students with a monetary reimbursement for grades that would place them on the Dean’s List Raises student and teacher morale alike Puts money back in students’ hands