Are You Ready for College?

"Don’t be afraid to invest in yourself with student loans. But before you do, make sure you are committed to putting in the hard work to graduate. Also, be aware of all aid deadlines; being even one day late on your aid application can be a very costly mistake."
—Marty Somero, director of financial aid at the University of Northern Colorado

The rising cost of college is no secret—especially for students looking to go out of state. Fortunately, many states offer reciprocity agreements that allow students to attend college out of state while paying in-state tuition. This map represents the four major tuition reciprocity compacts in the United States, plus some other opportunities.

NEW ENGLAND STUDENTS

The New England Board of Higher Education provides tuition discounts for 82 public colleges and universities in six states. nebhe.org

New York, New Jersey, Pennsylvania, and Washington DC do not belong to any reciprocity compact, but they offer tuition discounts all their own. Contact your counselor or prospective school’s financial aid department for more info.

SOUTHERN STUDENTS

The Southern Regional Education Board Academic Common Market enables students to pursue out-of-state degrees at discounted tuition rates. sreb.org

MIDWESTERN STUDENTS

The Midwestern Student Exchange is a multi-state group that maintains tuition reciprocity and discount agreements. msep.mhec.org

Two states—North Dakota and South Dakota—belong to both the Western Undergraduate Exchange and Midwestern Student Exchange.

WESTERN STUDENTS

The Western Undergraduate Exchange allows eligible students to receive a reduced tuition rate of 150% of resident tuition at participating institutions. wiche.edu/wue

"Check deadline dates for each school. Scholarships are first-come, first-served, so complete FAFSA and scholarship applications together to capitalize on maximum funding opportunities. Also, check for scholarship opportunities with your parents’ employers, clubs, or organizations you belong to."
—Jennifer Swanson, financial aid counselor at Metropolitan State University of Denver

A Financial Aid Story

TIM'S STORY

Tim is an only child from a small town in Colorado. He hopes to attend a public four-year college in California. With an annual income of $31,000, Tim’s family is unable to contribute to his education. His expected first-year costs total $23,679*.

Estimated costs for 2015–2016: $23,679*
Expected Family Contribution: $0
Financial Need: $23,679
*Full-time out-of-state tuition plus double-occupancy room/board and 20-meal plan.

State awards, private scholarships, and institutional funds helped make up Tim’s financial aid package:

Western Undergraduate Exchange (in-state tuition voucher) $5,158
Scholarship from Tim’s church $2,500
Presidential Scholarship $3,000
Pell Grant $5,550
Federal Student Loan $5,550
Federal Work-Study $3,550
Total Financial Aid Package $25,308
Tim can use leftover funds to reduce his loans or purchase books and supplies.