While students at the U may not be up in arms about the cost of tuition, many struggle to find the funds to pay for their education, collecting a hodgepodge of money from scholarships, loans and part-time jobs.
Hilerie Harris with the U’s scholarship office said students can get creative to pay for tuition.
“I’ve heard of students bringing in a bucket full of pennies or change to the window to pay for tuition,” Harris said. “It’s an accounting nightmare.”
That bucket of change would have to be quite large, considering the current rate of tuition at the U. In-state students pay more than $8,000 per year with 15 credit hours, and non-resident students more than $26,000. Tack on another $1,000 for books and supplies.
The Stressful State of Things
A study conducted by Ohio State University showed that while students across the nation show optimism for their financial future, it doesn’t dispel their present stress. Most respondents, 67.2 percent, said they are hopeful about life after their higher education career. But 71.8 percent reported they currently feel stressed over the financial obstacles related to school.
For some students, that stress doesn’t impact just them — a little less than 20 percent of students at the U are responsible for a spouse or partner and/or children of their own.
According to the study by Ohio State, the U falls behind the national average in the number of students whose primary source of funding comes from grants and scholarships. They also take out fewer loans and have less financial support from family members during college.
The U is behind the national average in the amount of students who apply for federal aid: 27.6 percent of U students receive no aid through grants and scholarships.
The U is well ahead of the national average in the amount of students who have no student loans whatsoever, though. A whopping 47.8 percent of respondents said they didn’t have any student loans, while the national average is 38.9 percent.
This might not be such a great achievement, said John Curl, director of the financial aid office at the U. Many students end up working to make up the difference, but while those extra hours on the job may save a student from going into debt, it can prolong the time spent at college and end up costing more.
Peyton Bruce, a freshman in ballet and psychology, said being an out-of-state student has forced her to take out some expensive student loans.
“I’m nervous about paying off these loans and the after-effects,” Bruce said.
Lessening the Financial Burden
Students often turn to scholarships based on academic or financial need to pay for school. This is the primary source of funding for 33.8 percent of students at the U. And Harris said the U’s scholarships office shells out about $25 million in scholarships each year.
An alternative source of scholarships often overlooked by students is provided by employers of family members. Tacie Christensen, a freshman in nursing, received a scholarship through Rio Tinto, her father’s employer, and said the extra funds helped make living on campus more affordable.
Personal work funds also account for a big source of students’ payments for housing, books and food at the U. Jobs can be found around campus and in Salt Lake City for students, ranging from typical college work to research opportunities, spanning both part-time and full-time.
Bailey Zupan, a junior in exercise science, works full-time between two jobs — one at Riverton Hospital and one in a research lab. He said the experience in the clinical side of his profession is worth the 30 hours of work he puts in each week.
Certain Reserve Officers’ Training Corps (ROTC) programs cover students’ tuition and costs for books while providing a stipend during their education. Logan Garcia, a freshman in computer science, said having a future job with benefits, along with a degree and no student debt, are definite perks OF working with the Navy’s ROTC.
Extra cash might be crucial, as more than 49 percent of students receive no financial support from parents. Nationally, 61.8 percent get help from their family.
Every student faces a different situation when it comes to paying for college, and the U offers resources for those who need help navigating the college financial scene. Students can speak with a counselor at the financial aid office about any concerns they may have. The scholarship office is available to answer questions about applying for and receiving scholarships.
The U also has the Personal Money Management Center if students need help with budgeting, tuition payments, student debt and cost-benefit analyses of degree programs.
@BeauHart13