For Students Considering Student Loans Online College Offers Tuition Assistance Alternative

Student loans offer short term solution with long term obligation

NORCROSS, Ga., Jan. 19, 2011 /PRNewswire-USNewswire/ -- As 2011 high school seniors begin finalizing their college plans and as working professionals continue returning to classrooms to pursue additional career training and higher degrees, all are faced with skyrocketing tuition and related costs.

Parents were once the primary source of funds for many students, but the dynamics have changed in recent years as tuition costs have soared. Over the past 10 years tuition, fees, and room and board at four-year public colleges and universities have increased 79 percent to $12,796 a year and 65 percent to $30,367 a year at private institutions, according to the College Board. With the current economic climate, it's not surprising that to cover the costs of today's higher education, borrowing has become much more common.

According to finaid.org, two-thirds of 4-year undergraduate students who graduated with a bachelor's degree in 2007-08, also graduated student loan debt -- $23,186 being the average among graduating seniors. That same debt is also subject to 6.8 percent interest, the maximum by law.

For example, a graduate with $23,000 in student loans will pay an additional $8,762 in interest. For someone earning $50,000 a year, that's an additional $265 obligation each month for up to ten years. That amount increases with subsequent loans.

So how can students get a quality education without incurring student debt?

It's Possible to Graduate without Student Loans

Today, as many as one in five college students have taken at least one online course. Through distance education institutions, these students are able to receive a quality accredited education, often at a considerable cost savings.

Largely due to significantly lower overhead, tuition often runs a fraction of their brick and mortar counterparts. However, in spite of lower tuition, some students still consider loans a necessity, even with predominately online programs. The good news is that there are options.  

Like Ashworth College (http://www.ashworthcollege.edu), there are distance education institutions out there that offer students a different solution with a "pay-as-you-go" model. Affordable monthly payments are made while pursuing a diploma or degree program, assuring students of graduating without student loan debt, putting them financially ahead of those who borrowed thousands of dollars for their education.

"What we offer is a significant advantage for our students," said Dr. Leslie Gargiulo, Vice President of Education for Ashworth College. "Students make monthly payments, usually under $50 a month, and have the peace of mind of knowing that a student loan payment won't be waiting for them after graduation."

Dr. Gargiulo also explained that tuition can also be interest-free. "Unless a student was to incur late fees, Ashworth's tuition price at the time of enrollment is the same amount that student will have paid over the course of the program," she said. "It's conceivable that an Ashworth graduate will be able to start life post-graduation thousands of dollars ahead of those who took out student loans."

About Ashworth College

As a leader in online education, Ashworth College has built a tradition of excellence spanning 25 years, offering students worldwide more than 115 online college degrees, online career certificates, online career training and high school online diplomas that are affordable and fit the busy schedules of working adults. Ashworth also offers military education online as well as specialized programs for corporate partners and homeschoolers.

Headquartered in Norcross, GA, Ashworth is accredited by the Distance Education and Training Council (DETC). The Accrediting Commission of the DETC is listed by the U.S. Department of Education as a nationally recognized accrediting agency. James Madison High School is further accredited regionally by the Southern Association of Colleges and Schools Council on Accreditation and School Improvement (SACS CASI). SACS CASI is an accreditation division of AdvancED.

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For more information about Ashworth College and James Madison High School, please visit http://www.ashworthcollege.edu.

SOURCE Ashworth College