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Phoenix Forward magazine

5 videos offer tips on how to pay for college

When it comes to covering the cost of college tuition, you might wonder how much financial aid is available, who qualifies and whether it’s even worth applying for, says Chris Conway, MA, University of Phoenix® financial education initiatives director.

To better inform prospective college students about their financial options, the University teamed up with the Chicago branch of the Federal Reserve to make five three-minute videos that offer straightforward information about financial aid and cover everything from scholarships to student loans.

It’s important that students understand that … choosing a college also means figuring out how to pay for it.

The videos were produced for Money Smart Week, a weeklong national public awareness campaign by the Federal Reserve aimed at educating the public about financial issues. The videos may be viewed on the University’s YouTube™ channel.

“It’s important that students understand that the process of choosing a college also means figuring out how to pay for it, and it’s not something you decide in a day,” Conway emphasizes. “In order to be successful, you need to develop a solid plan ahead of time.”

Using colorful, graphic animation, the videos cover such tips as how to fill out the Free Application for Federal Student Aid (FAFSA), options for repaying debt and guidelines for calculating how much you can afford to borrow.

“We kept the information broad so that it would be helpful to everyone across the spectrum,” Conway explains. “Many people feel they won’t qualify for student aid because they make too much money, and so they never try. But it’s always a good idea to apply.”

Conway hopes the videos will reach an extensive audience. “If people better understand their options associated with college costs,” she says, “the better chance they’ll have at creating a realistic plan that allows them to make better and more responsible choices.”

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