Question

Your younger cousin Mary is a rising senior in high school this year and has been

researching the cost of attendance at several colleges. She emails you because she knows
that you have just learned about paying for college and she has some serious concerns.
Here are some excerpts from her email:
• Despite her strong academic performance in high school and her interest in pursuing
a career in chemical engineering, Mary reveals, "I'm starting to think that college just
isn't worth it. I don't see how a college degree is going to help me in the future if it
costs so much. Aren't I better off just going straight into a job with my high school
degree and saving my money?"
"I've been looking at the published costs of attendance on college websites, and
they're insanely high! There's no way my family and I can afford such prices."
"I know financial aid is available for students, but I don't know what types there are, let
alone how to apply for financial aid. Even if I knew how to apply, should I apply? I don't
I think I'll qualify and I don't want to put in all that work for nothing.
"I know that I have to start paying my loans right after I graduate college. But what if I
don't have a job by that time? And what if I can't afford my monthly payments? I don't
I want to take that risk."
You recognize that Mary has a few misconceptions and gaps in
knowledge about how to pay for college and want to make sure that she
makes a decision based on the right information. In 4-5 paragraphs,
respond to Mary about each of her concerns.

Answer 1

Dear Mary,

I understand your concerns about the cost of attending college and how it might not be worth it in the end. However, earning a college degree can significantly increase your earning potential and lead to greater job opportunities. In fact, individuals with a bachelor's degree earn an average of $1 million more over their lifetime compared to those with only a high school diploma. Moreover, pursuing a degree in chemical engineering can open doors to highly rewarding and well-paying career paths.

I agree that the published costs of attendance on college websites can be overwhelming, but keep in mind that these figures are often the maximum amount and many students receive financial aid to reduce their expenses. Financial aid comes in many forms, including scholarships, grants, work-study programs, and loans. Scholarships and grants do not have to be repaid, so it's worth exploring those options first. Loans can be daunting, but they can also be manageable if you borrow responsibly and budget accordingly.

It's understandable that you may feel uncertain about whether you qualify for financial aid or not, but it's always worth applying. Many families are surprised to find out that they qualify for aid that they didn't expect. The Free Application for Federal Student Aid (FAFSA) is the form used to determine your eligibility for federal and state financial aid, and it's free to complete. Private institutions may also require additional forms, so make sure to check each college's financial aid website for more information.

As for student loans, there are many repayment plans available, and you can choose one that works best for your budget. If you're having trouble finding a job after graduation, you can apply for deferment or forbearance to temporarily suspend your payments. It's important to have a plan in place for repayment, but it's also important not to let the fear of repayment stop you from pursuing your dreams.

I hope this information helps you make a more informed decision about your college plans. Remember, investing in your education can have long-lasting benefits and lead to a brighter future.

Best regards,

[Your Name]

Explanation: