Final answer:
The Garret family can explore various state-funded programs such as grants, scholarships, and financial aid options like the Pell Grant Program to pay for college tuition. Public policies and initiatives aimed at making college more affordable are also crucial. Completing the FAFSA is a critical step in accessing these financial resources.
Step-by-step explanation:
The Garret family is seeking ways to manage college expenses, a concern shared by many as the cost of higher education continues to escalate. One strategy is to take advantage of state-funded programs that can assist with college tuition. For instance, programs like grants and scholarships, particularly those that do not need to be repaid, such as the federally funded Pell Grant Program, can significantly reduce the financial burden on students and their families.
Other forms of financial aid, such as subsidized loans with capped interest rates, and education tax credits, can also help manage the cost of tuition. Public policy plays a critical role in ensuring these options are available, aiming to create opportunities for students irrespective of their economic background.
It is vital for families to explore these opportunities and utilize resources like the Free Application for Federal Student Aid (FAFSA) to access available financial aid. Staying informed about fiscal policies and actively engaging in financial planning can lead to more manageable student loan debt and contribute to a more secure financial future.