This article was originally written for FirstGenerationStudent.com, now a part of ImFirst.org.
Students who are first in their families to enroll in college often lack advice about planning and paying for college. Other students can rely on the experience and insights of their parents, siblings and other relatives who have previously pursued a college education, but first-generation college students are often on their own.This lack of experience affects whether would-be first-generation students enroll in college, whether they persist beyond the first year and whether they ultimately graduate.
Statistics to Consider as a First-Generation College Student
Of students whose parents have no college experience, only about a third enroll in college, compared with more than half of students whose parents had some college experience. The likelihood of enrolling in college increases with the parents’ highest level of education. Children of parents with professional degrees such as a Doctor of Philosophy or Doctor of Medicine are twice as likely to enroll in college as children of parents who dropped out of high school.
Nevertheless, about a third of college students are the first in their family to enroll in college. Less than half of college students have at least one parent with a bachelor’s degree or a more advanced degree.
Among students who are the first in their family to enroll in college, only two-thirds persist from the first to the second year, compared with more than four-fifths of college students whose parents have a degree or certificate.
Only two-fifths of first-generation college students will attain a degree or certificate within six years of enrolling in college, compared to three-fifths of college students whose parents have a bachelor’s degree or higher. In addition, students whose parents have a bachelor’s degree are three times more likely to obtain a bachelor’s degree, as opposed to an associate degree or certificate.
Find a Mentor and Support
It is essential that first-generation college students get financial advice and emotional support through a mentor. A mentor is someone who can guide you as you begin college and throughout your college career. A mentor can be anybody with college experience, such as a guidance counselor, a financial aid administrator at a local college, a professor, a high school teacher or a college-educated friend or colleague. Your mentor will help you get around the many barriers on your way to a college degree.
Connecting with others like you can also provide you with valuable support. In addition to FirstGenerationStudent.com, visit the I’m First website, where you will find inspirational videos created by other first-generation college students.
The Community College Pitfall
A community college program is an inexpensive way to obtain a certificate or an associate degree. However, if your goal is to obtain a bachelor’s degree, taking a detour through a community college to save money may mean that you never reach your destination. Half of first-generation students who begin their higher education at a four-year college intending to obtain a bachelor’s degree earn that degree within six years of enrollment, compared with a quarter of those who start their studies at a community college.
Where to Start with Financial Aid: FAFSA
File the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov to apply for financial assistance from the federal and state governments and from most colleges. Some colleges also require a supplemental form called the CSS Financial Aid PROFILE. You can get free help completing the FAFSA by calling 1-800-4-FED-AID (1-800-433-3243) and through College Goal Sunday at www.collegegoalsundayusa.org/Pages/default.aspx. Additional advice on completing the FAFSA can be found at www.FAFSAonline.com.
If you have unusual family financial circumstances, ask a college financial aid administrator for a professional judgment review. (Some colleges call this a financial aid appeal or special circumstances review.) Unusual circumstances include anything that changed from last year to this year, such as job loss or salary reduction, and anything that distinguishes your family from the typical family.
Scholarship Fundamentals
To find private scholarships for which you are eligible, use a free scholarship matching service such as www.studentscholarshipsearch.com or www.fastweb.com. You can also earn points to enter scholarship drawings at www.scholarshippoints.com by participating in surveys and other activities. But, beware of scholarship scams: if you have to pay money to get money, it’s probably a scam. Never invest more than a postage stamp to get information about scholarships or to apply for a scholarship.
There are many scholarships that are targeted at first-generation college students. Some are restricted to students from a particular geographic area or to students who enroll at particular colleges, such as the Charlotte W. Newcombe Special Scholarship Endowments. You can find those that are a good fit for you by using one of the aforementioned free scholarship matching services, which will also match you with scholarships that are not restricted to first-generation college students. Some of the less restrictive scholarships for first-generation college students include the Suder Foundation’s First Scholars Program and the Sallie Mae Fund’s First in My Family Scholarship Program (for students of Hispanic heritage). In addition, the Buick Achievers Scholarship Program gives special consideration to first-generation college students.
Definitions of “First-Generation” Differ
Note that some scholarships have different definitions of what it means to be a first-generation college student. Some restrict their scholarships to students whose parents never attended college, while others will count students whose parents have a certificate or associate degree but not a bachelor’s degree or more advanced degree.
Know About Tax Credits
You can also obtain money for college by filing a federal income tax return. The American Opportunity Tax Credit is based on the amount that you (or your parents) paid for tuition and textbooks. This tax credit is partially refundable, so you don’t have to have a tax liability to claim it. You or your parents may also qualify for the Earned Income Tax Credit.
Net Price vs. Net Cost
When evaluating college costs, consider the net price, not the sticker price or net cost. The net price is the discounted sticker price, after you subtract grants, scholarships and other gift aid (money that does not need to be repaid) from a college’s fees for tuition. It is the amount of money you will have to pay from savings, income and loans to cover college costs. Don’t confuse the net price with the net cost: The net cost subtracts the entire financial aid package from the cost of attendance, but the financial aid package includes loans, which don’t really cut college costs. College Navigator displays the average net price at various levels of family income at the colleges in its database.
Minimize Debt
The least expensive higher education options generally include in-state public colleges and the six dozen elite colleges with generous “no loans” financial aid policies.
Some debt may be unavoidable, especially at four-year colleges and universities. The best approach is to minimize the debt. So long as your total student loan debt at graduation is less than your annual starting salary, you will be able to pay off that debt in 10 years or less. Keep your debt in sync with your likely job. Live like a student while you are in school so you don’t have to live like a student after you graduate.