HEARO Community College Mentorship Program's Guide To College Financial Literacy

kyraashelton
Jan 9, 2025
6 min read

Author: Elli Prickett, Resource Acquisition. Current pre-medical student at the University of Washington. (1/9/2025)

Please enjoy this comprehensive guide to paying for college and understanding the finances of education! Although our team is trained in efficient research techniques and fact-checking, we are only human - if you have specific questions or decisions to make, be sure to reach out to our team or the financial aid team at your institution to gain more in depth information.

WHAT ARE YOU PAYING FOR WHEN YOU GO TO COLLEGE?

When attending classes at a community college or university, there is a financial obligation attached. Average costs of attendance can be misleading because the total cost is a sum of many different factors like tuition/fees, course materials, living expenses, and other miscellaneous expenses.

Tuition and Fees

Tuition and fees is the amount of money set by the college to attend classes. This can be a set amount or charged per credit. Regardless of the number of credits taken, fees are often a set amount and cover operating costs. This amount often differs greatly between in-state and out-of-state students. When researching cost of attendance, the cost of tuition/fees is the most reliable factor on being close to the true cost amount.

Course Materials

Despite paying tuition and fees, can be additional costs that depend on the classes taken. Classes like labs which require extra materials often require an additional course fee which often range from $20 - $100. The amount is often noted when registering for the class. Many classes also require textbooks or workbooks that aren't included in the tuition price. While new textbooks are expensive, there are many alternative options. Used textbooks are less expensive and can be purchased from college bookstores or websites like Amazon. Many students also try to sell their textbooks after completing a course and often list these on online platforms like Reddit or Discord. Campus libraries may also allow students to check out textbooks for the term. Materials are often listed on the course website, but before purchasing any materials, it’s important to ask your professor which materials are actually required.

Living and Miscellaneous Expenses

Living expenses include housing, food, transportation, and other personal necessities. Living expenses vary greatly from person to person. If a college includes this factor in their estimated cost of attendance, it could be way off the actual cost you will pay. This is why it’s important to look at the breakdown of cost and what factors contribute to it.

HOW Do I Pay For College?

There are general financial resources linked below that fall under the categories of loans, grants, and scholarships. The FAFSA is an application for students to receive federal financial aid. Filling out the application doesn’t guarantee aid, but it is also used by colleges to determine financial aid qualification at their school. If financial aid is awarded, it can come from a variety of sources like loans, grants, and work study. The Washington Student Achievement Council has a list of financial aid programs that are need and/or merit based.

LOANS

With a loan, money is borrowed and needs to be repaid at a later time with additional interest. Loans can be arranged through the federal government or privately through banks.

GRANTS

When grants are awarded, the money does not need to be repaid. However, they are often need-based. The Pell Grant is a need-based grant with qualification depending heavily on parent income and comes from the Federal government.

The Washington College Grant provides financial assistance for college or career training.

SCHOLARSHIPS

Like grants, scholarship money does not need to be repaid. Scholarships are often merit-based and may require essays, letters of recommendation, and interviews.

Fast Web is a scholarship database that suggests scholarships based on your profile information.
Scholarship Junkies is a scholarship database that also has college-specific scholarships listed.
This FinAid page lists scholarships by group based on experiences, interests, and future employment plans.
This Scholarship Scams page goes over common financial aid scams and tips for how to spot and avoid them.
College Resource Network
The WA Opportunity Scholarship offers financial aid, mentorship, and career help for recipients.
The WashBoard is a scholarship database specific for Washington residents.
College Success Foundation lists scholarships at both a national and state level. These scholarships are for low-income students.

SCHOOL SPECIFIC RESOURCES

SEATTLE UNIVERSITY

Financial services contact information: financialservices@seattleu.edu
The Student Financial Services Information lists tuition due dates and payment plans for 2023-2024.
The Payment Plan web page describes the three payment plans (A, B, and E) and lists when the payments are due.
The Financial Aid FAQ page has in-depth information on financial aid deadlines, determining dependent/independent status, and how to make a payment.
How Much Will It Cost? Breaks down the cost of tuition including the required and optional fees.
This Financial Literacy page has free resources on budgeting, basic loan information (including repayment), and comparing costs of different colleges.
Work Study is an option for employed students who file a FAFSA and have financial need to earn up to $5,000/year.
The Scholarships page has tailored resources based on first-year or transfer student status and information on the application process for specific scholarships.

BELLEVUE COLLEGE

Student Financial Services Office: (425) 564-2309
Types of Financial Aid Offered at BC lists loans, grants, and scholarships and their qualifications.
Apply for Loans goes over available loans to pay for tuition.
Apply for Financial Aid lists the required documents and timeline of how to apply for financial aid.
The Net Price Calculator allows the user to gain a more accurate estimate of the price of tuition. It also has tools for financial planning and federal/state financial aid information.
The Scholarships page lists the deadlines, tips, and application requirements for BC scholarships.
The Benefits Hub offers a variety of services like housing and food support, and emergency aid.

EVERETT COMMUNITY COLLEGE

Financial Aid Representative: fin_aid@everettcc.edu
Ways to Pay for College lists available grants, work study, scholarships, and student loans. It also has information on payment plans and workforce funding.
Estimated Cost of Attendance includes a net price calculator, estimated cost based on residency, and breaks down the fees that make up the tuition. It also goes over how ECC determines whether a student qualifies for financial aid.
Financial Aid FAQ has information on tips to apply for FAFSA and WAFSA, important dates, and how to estimate how much financial aid you will receive.
Financial Aid Forms has a lengthy list of documents needed to apply for a variety of loans. It also has verification and appeal financial aid forms.
This Scholarships page lists ECC specific scholarships as well as state-funded scholarships and how to avoid scholarship scams.

SEATTLE CENTRAL

Financial aid contact information: financialaid.central@seattlecolleges.edu
The Net Price Calculator allows the user to gain a more accurate estimate of the price of tuition based on their residency and housing situation.
The Financial Aid FAQ page goes over who is eligible for financial aid and when to apply.
Financial Aid Grants are available to students who have submitted a financial aid application. Eligibility is determined by the financial aid office.
This Loans webpage has information on different loans that are available and how to apply to them.
The Scholarships page has information on Seattle Central specific loans as well as general scholarship databases.
The Work Study page has a list of open positions for students eligible for work study after submitting a financial aid application.

SHORELINE COMMUNITY COLLEGE

Financial contact: financialaid@shoreline.edu
Types of Financial Aid is an in-depth review of available loans, grants, scholarships, grants and work study opportunities for students.
Financial Aid Forms goes over how to submit financial aid documents. It also includes verification forms and other general resources.
The Tuition Payment Plan includes important dates/deadlines and how to start a payment plan.
This Tuition and Fees page breaks down the cost of tuition based on credits and includes optional fees.
The Cost Estimate page has a net calculator to get a more accurate tuition estimate based on individual circumstances.

NORTH SEATTLE COLLEGE

Financial aid contact: financialaid.north@seattlecolleges.edu
The Student Services page lists days/times when students can meet with a staff member to go over enrollment, advising, and financial aid assistance.
The Types of Aid page has in-depth information on grants, scholarships, loans, and emergency assistance.
The Cost of Attendance page goes over common terms and how financial aid is determined.
Scholarships lists the grants and scholarships available for students.
Financial Aid FAQ goes over common questions like how to check financial aid application status and what to do if income changes.