Jul 29, 2020

What Will College Look Like in 2020 and How Can You Afford It

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A few months ago, when the first wave of the pandemic hit our shores, high-school seniors all over the world were prevented from celebrating their graduations. We felt for the class of 2020 and their parents and most of us assumed that the effects of the virus would be long gone by the time they started college. Now, months later, we’re realizing that students starting or returning to school this fall will be facing some changes after all.

Adjusting to a New Normal

During the summer break, school faculty nationwide prepared with the goal of reopening campuses in the fall semester. However, growing concerns placed online learning as a top priority for students with only a few schools offering an in-campus option. Even with this change, students and parents can continue to expect a rigorous college education.

This year, students will experience more virtual meetings than before as orientation, classes and even academic advising switch to online sessions. Homecoming and other campus life activities that involve large gatherings may be postponed with the goal of slowly reintroducing these once it’s safe to do so. The important thing to remember is that these modifications are temporary and were made with the safety of students and faculty in mind.

Paying for School

Even before 2020, college tuition costs were increasing with each passing year. This year, schools are urging students and families to submit their FAFSA early for a better chance at receiving student aid. To apply online, visit studentaid.ed.gov. Here are a few options that FAFSA provides:

  • Federal Pell Grants and Federal Supplemental Education Opportunity Grants (FSEOG) are based solely on financial needs and are not required to be repaid.
  • Federal Student or Parent Loans require repayment with interest. Not all loans are need-based. Credit history is not a factor in the loan approval process.
  • Federal Work-Study is a form of need-based federal aid. Students are awarded a set dollar amount for the academic year but in order to receive funding, the student must work at an approved work-study site. Colleges and universities administer the Federal Work-Study program, which is available on a first-come, first-served basis.

Scholarships

Apply early and often since many scholarship programs have annual first-come, first-served deadlines. Databases like fastweb.com and scholarships.com offer students access to approximately $19 billion in free money. Make sure to also apply for the Hughes Scholarship Program available each spring for high school seniors entering college, university or trade school in the fall.

  • Unigo™ (Benefits Plus perk available with Checking PLUS) is a free college scholarship matching service for students and families looking to find scholarships in any category. Members receive a $100 Office Depot gift card if denied a scholarship.

Student Loans

Hughes is also here to help with Student Loan options. Credit-based student loans are an ideal solution to help pay for college expenses not covered by scholarships or federal loans. Why choose student loans?

  • Flexible Options – Multiple in-school repayment options plus a choice of competitive fixed and variable interest rates, providing even more flexibility
  • 3 Repayment Options – Deferred repayment, fixed repayment and interest repayment
  • UA Preferred Student Loan Lender – As a University of Arizona partner, Hughes is committed to helping students reach their financial goals.
  • Rewards for on time payments
  • Lower rate for setting up automatic payments

We’re Here to Help

Hughes is committed to the financial success of our student members. Whether you’re looking to pay for school, finance a vehicle, or improve your finances, we’re here to help you achieve your goals!