Planning Financially for your Child’s Summer Courses

If you’re assisting your child in paying for college and they plan on taking summer courses, now is the time to prepare financially to pay for said course or courses! First, it’s important to understand that summer courses are typically more expensive than those offered during the fall and spring semesters. In addition, if your child is receiving financial aid then it’s important to note that they may not be able to receive such aid for summer courses, Lastly, even if your child won’t be taking summer courses this summer, it’s important to plan ahead for such a possibility.

Be Prepared for the Cost

A majority of universities offer summer courses at significantly higher prices than courses offered during the fall or spring, and you should be prepared for this increase in cost. Summer courses are more expensive because there are fewer students enrolled at the time, but similar overhead costs. As such, universities must charge more in order to balance out the cost of the course—and this is especially true for classes that also contain a lab period! This is not to say that your child can’t benefit from taking summer courses—just know that it will take a larger check than fall or summer courses!

Financial Aid may not be Available During the Summer

Another reason that summer courses can be so expensive is that financial aid typically is not offered to students during the summer, and thus you’ll be footing the full bill yourself! You can determine whether or not your child is eligible for financial aid during the summer by reading your FASFA information and by doing some research on the college or university’s policy regarding summer aid. Some universities will offer aid but only to those taking a certain number of hours (typically two courses worth of hours). In addition, certain resources like textbooks and other needs your child needs for their course may be more readily available during the summer.

Plan Ahead

Even if your child is not planning on taking summer courses this upcoming summer, it doesn’t hurt to plan ahead for such a possibility! Summer courses do offer a number of benefits, and sometimes your child may be required to take them in order to stay on track! In addition, those who wish to complete their undergraduate degree in less than four years will often take summer courses to get ahead! As a result, you can believe that your child may very well end up taking one summer course during their time in college!

Need more help planning for college expenses? Contact Carolina Money Minders today!