TYPES OF FINANCIAL AID FOR TWO-YEAR COLLEGES
Earning a college degree is worth it. On average, students who receive a college degree earn $24,900 more annually than their counterparts who do not pursue higher education after high school. Furthermore, careers that require employees have college degrees tend to be more reliable and recession-proof. For example, in 2018, the unemployment rate for individuals ages 25 to 34 with a college degree was 2.2%, compared to 5.7% for individuals of the same age who had received only a high school education.
Beyond a higher salary, employees with a degree tend to benefit in additional ways. For instance, those employees are more likely to receive access to employer-provided health insurance coverage and employer-provided retirement plans. These perks make the benefits of a college education valuable throughout one’s life and well into retirement years.
Unfortunately, some individuals worry they don’t have the financial means to pursue a postsecondary education, but that need not be the case. Students who aspire to higher-earning careers have several types of financial aid opportunities available — including grants, loans, work-study programs and scholarships. Some of these options are available through the federal government and many are earmarked especially for junior college financial aid.
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