Most Americans ascribe to the belief that higher education parlays into more income. But a college education can be elusive for lower-income students and their families as they navigate the murky waters of financial aid.
It should be noted that 83 percent of all students whose family income falls below $20,000 receive some type of financial aid, according to the U.S. Department of Education.
With federal financial aid sources being mostly need-based, lower family income increases the likelihood of receiving more aid. Conversely, the more expensive the college, the more financial aid a student can often qualify for.
For example, at least 70 percent of all students who attend Texas Woman's University receive financial aid, TWU Director of Financial Aid Governor Jackson said.
Of those students, he said 75 percent of the awards include a combination of grants, student loans and some type of part- or full-time work.
"Some students choose to apply for scholarships only," Jackson said. "But most apply for anything they're eligible for."
Jackson also said the college's financial aid staff had seen as much as a 40 percent reduction in companies willing to set aside money for college education.
"Many companies are scaling back on all types of employee benefits, not just education, from what we saw 10 or 15 years ago," Jackson said.
He said there are exceptions in fields where there is still growth, such as nursing and teaching.
"Some hospitals are willing to pay for nurses to attend graduate school," Jackson said. "Likewise, some school districts are encouraging teachers to take more courses in their particular discipline, achieve certification or earn master's degrees."
Another area of remarkable growth is the field of engineering. According to Gary Markestad, the past chairman of the Fort Worth Society of Petroleum Engineers, the influx of the Barnett Shale natural gas play has yielded an increased membership as engineers flocked to the area.
As a result, the society has been offering more scholarships to incoming freshmen interested in petroleum engineering.
Coy Veach, the vice president of the Fort Worth Division of the Texas Society of Professional Engineers, said the society doesn't use set-aside grants, but offers scholarships with fewer restrictions so the awards are all distributed each year.
"There is a lot of opportunity out there if you're willing to get out there and look for it," Veach said. "But students need to start looking while they're still in high school."
TWU's Governor Jackson (yes, that's really his first name) advised students to apply for scholarships in their senior year - in the fall for private institutions and around February for public colleges. He also advised students to begin considering the costs in their junior year.
"Later than that doesn't give students much financial maneuvering," Jackson said, "They're pretty much at the mercy of whatever they can receive."
But the First Command Educational Foundation of Fort Worth believes that meeting the financial challenges for a college education should start long before high school.
"We take a cradle to college' approach, starting with seminars for parents of young children on how to begin saving for a child's higher education," FCEF Executive Director Vickie Mauldin said.
The foundation teaches families how to develop spending plans, avoid credit challenges and make educated investment choices.
The foundation offers workshops to explore immediate resources for college for those who haven't planned or who have counted on grants that didn't materialize, Mauldin said.
Karen Krause, director of the office of financial aid at the University of Texas at Arlington, urged students to file their Free Application for Federal Student Aid as early in the year as the tax documents are available from the previous year's income, typically in mid-February.
She also suggested applying for college admission at the same time, in a "parallel track" to save time.
"If students wait until they've been admitted, they can be delayed," Krause said.
She said the FAFSA allows simultaneous information to be sent to several schools at once and can be done more rapidly via Internet..
As far as set-aside grants, Krause said the trends toward companies providing them are pretty much status quo.
"I don't believe the trends are changing one way or another," she said. "But I certainly encourage students to ask companies if there's assistance available."