Furthering your education costs you time, money, and effort. It’s a big investment, and you should carefully evaluate the school you’re considering. Choosing the school you’ll attend is one of the most important decisions you need to make. Another is how you’re going to pay for it. The U.S. Department of Education offers a variety of student financial aid programs. As you evaluate different schools, be sure to ask questions about financial aid.

Remember, it’s up to you to check out a school. Just because a school participates in the federal student financial aid programs does not mean the U.S. Department of Education has endorsed the quality of the education the school offers. They do not approve a school’s curricula, policies, or administrative practices, except as they relate to how the school operates the federal student financial aid programs.

QUESTIONS TO ASK

Some of the basic questions you should ask when considering a college or career school are as follows:

• Does the school offer the courses and type of program I want?

• Do I meet the admissions requirements?

• Does the school offer a quality education at a reasonable price?

• Does the school offer services I need and activities I’m interested in?

• What are job placement rates for students who have recently graduated?

Most of this information is covered in a school’s catalog or in its introductory brochures. Make sure you get these from schools you’re interested in. Also, the reference section of your local library has many books that provide information about colleges and career schools.

You can also find information on the Internet. If you know someone who attended a school you’re considering, ask that person’s opinion of the school. You should also inquire about the school’s accreditation and licensing.

Find out the school’s loan default rate (the percentage of students who attended the school, took out federal student loans, and later failed to repay their loans on time). You might not be able to get aid from some government programs at a school that has a high default rate.

Get a copy of the school’s campus security report. It provides information on the school’s campus security policies and campus crime statistics.

Find out the school’s job placement rates (the percentage of students who are placed in jobs relevant to their courses of study). Also, check with local employers to see whether they have hired graduates from the school.

Find out about the school’s refund policy and its return-of-aid policy. If you receive federal student aid from most government aid programs (except for Federal Work-Study) and you withdraw from school, some of that money may have to be returned by you or your school. Also, even if you don’t finish your coursework, you’ll have to repay the loan funds you received, less any amount your school has returned to your lender.

Find out about available financial aid assistance, including information on all federal, state, local, private, and institutional financial aid programs. Ask about procedures and deadlines for submitting applications for each available financial aid program.

Find out the school’s completion and transfer-out rates. A school is required to disclose to current and prospective students the percentage of its students that complete the school’s programs and the percentage of students that transfer out of the school.

Compare your expected debt for attending the school to the money you expect to earn once you complete the educational program. If you borrow money to pay for all or a portion of your education, you’ll need to earn or have access to enough money to repay your debt. Check the internet or visit the library to learn more about the careers you are interested in. The U.S. Labor Dept. publishes the Occupational Outlook Handbook, which gives job descriptions, including starting salaries and annual income averages. You can find it online at www.bls.gov/oco/.

You’re paying for a quality education. Make sure you get it. 

Source: U.S. Department of Education.