TBO.com - TBO is Tampa Bay Online

More Bright Ideas

ADVERTISEMENT

The Tampa Tribune

Published: June 15, 2008

MELVILLE, N.Y. - If you come up short paying for college, go back to the school's financial aid office to ask for more.

"When do you stop asking a college for money? Never," said Tony Esposito, president of Lerner and Esposito College Consultants Inc.

Here are some other ideas to consider:

•Look into a payment plan. Some schools let you spread payments out over several months as long as the bill is paid by the end of the semester, says Cathy Malnichuck, director of financial aid at Farmingdale State College in New York.

•Look for scholarships at Web sites such as www.fastweb.com.

•Many students attend their first year or two at less expensive community colleges and then transfer to a pricier school. That's the case with Daniel D'Meza, 20, who finished the associate's degree program in liberal arts from Nassau Community College on Long Island. Cost "was a major factor," says D'Meza, who will attend Stony Brook University on Long Island in the fall to major in psychology.

•Go to college application and financing workshops offered through schools, libraries and adult education programs.

•Open a 529 tax-advantaged savings plan.

George Thomas, 47, an insurance agent in Long Island, said he tells all his friends to "start a 529 plan as early as possible." Five years ago he did just that for his three sons.

With his oldest about to start at Stony Brook in the fall, he said that thanks to the savings plan and a generous scholarship, he and his wife won't have to worry about borrowing for at least two years, when his second son starts college.

Newsday

Share this:

Loading Comments...

Email Print

ADVERTISEMENT