Student Aid – designer491

Across the U.S., college students are facing rising tuition costs. Financial solutions like student loans and FAFSA-based aid play a major role in helping them afford higher education. These options can open the door to opportunity, but they also come with trade-offs that may leave graduates balancing opportunity against long-term debt.

The Free Application for Federal Student Aid, or FAFSA, is often the first step students take when seeking help with college expenses, as it determines eligibility for federal grants, work-study programs, and subsidized loans. 

For some, the process is manageable and rewarding. Jafet Archundia, a community college student in California, described his FAFSA experience as mostly straightforward. “Filling out the FAFSA form, I had a relatively easy time,” Archundia said. “This year they made it a lot more simple. I only found trouble with some terms and words I didn’t understand, but once that was cleared, it was very straightforward.”

Archundia said that FAFSA has covered not only his tuition but also additional costs, like gas, materials, and extracurricular activities. With grants such as the Pell Grant, Cal Grants, and the California Promise Fee Waiver, he was able to focus on his studies without paying out of pocket. “It’s actually gone beyond paying for college,” he said. “I’ve been able to purchase technology that made my studying experience so much better, and I’ve attended valuable extracurricular opportunities like engineering events I never would have been able to afford.”

Still, he admitted there can be challenges. Requirements for receiving certain disbursements are sometimes confusing, and processing delays can cause stress. However, overall, Archundia said that FAFSA has been life-changing for students from lower-income households. “I feel very heavily supported,” he said. “Nothing is as useful as FAFSA simply because of how much it offers for families like mine.”

While FAFSA can provide grants that don’t require repayment, many students rely heavily on loans to cover tuition. Federal student loans often feature lower interest rates and flexible repayment options, while private loans can fill in financial gaps but with higher risks. 

For Mekial Anwar, a Cal State University college student in California, loans were the only realistic option. He took out both federally subsidized and unsubsidized loans during college. “The benefit is that you get to pay for your college without having to immediately pay out of pocket,” Anwar said. “Once you’ve completed your education, you still have a couple of years before you are actually required to start paying.”

Anwar said that loans made it possible for him to finish his degree and find a job. Now, he is in repayment, but credits the system for giving him breathing room to start his career first. “I think loans are the most realistic path for the vast majority of students,” he explained. “Not everyone will qualify for grants or scholarships, so sometimes student loans are the only way to go.”

While he acknowledged that repayment can be daunting, Anwar sees a silver lining. “Loans actually help build your credit because you have to pay them back,” he said. “It’s not the end of the world, as long as you manage them responsibly.”

Beyond FAFSA and loans, students also turn to scholarships, part-time jobs, or work-study programs to manage expenses. But those options are not always enough. Scholarships are competitive, and balancing work hours with academic demands can be challenging. Meanwhile, the national student loan debt crisis, now surpassing $1.7 trillion, has fueled debates about forgiveness and reform. Some policymakers argue for expanded grants or reduced loan interest rates, while others emphasize the importance of financial planning and personal responsibility.

For students like Archundia, FAFSA grants can transform the college experience, making higher education affordable and even funding valuable extracurricular opportunities. For students like Anwar, loans can provide immediate relief but also create long-term obligations that shape financial futures.

Experts encourage students to carefully weigh all options, starting with FAFSA, exploring scholarships, and borrowing only what is necessary. Financial solutions can make college possible, but they also highlight the reality that the price of opportunity often comes with strings attached.