According to a survey by the Chronicle of Higher Education, currently 9% of colleges in the U.S. are planning for an online school year and 24% are proposing a hybrid model.
Despite the structural changes, many of these schools are also planning to keep the tuition rate the same, even as millions of Americans have lost their jobs and are facing financial hardship.
What to do now?
Appeal FAFSA application
The FAFSA application reflects your family’s financial situation from the tax year two years prior. Any aid you were originally awarded might not fit your current financial situation. If that’s the case, you should consider appealing your application to have your aid adjusted.
Apply for student loan
If you’ve maxed out your federal loans and financial aid still doesn’t cover your tuition, you might want to consider a private student loan. Private lenders typically lend large amounts, however, these loans are not eligible for any sort of government loan forgiveness or repayment plan.
Ask for a tuition reduction
This may sound crazy, but more families are making “the ask” (arguing that the kids didn’t get the in-person experience they signed up for) and some are actually getting breaks on tuition.
Consider other options
Some students are planning on attending a school closer to home; others are delaying going to college; some are choosing a less expensive public, rather than private, college.