College Finances at Eastern Connecticut State University

Kelina Robinson | Contributing Writer

Kyra Slack | Contributing Writer

Siena Ricciardone | Contributing Writer

photobyphotoboy / Envato.com

Finances are a problem that is constantly on students' minds, and college is one of the biggest financial stressors people experience in their life. This means that students have to rely on financial aid to help pay for housing, books, tuition, and other expenses they might encounter as a college student. College is very expensive, and most students do not have help paying for the overall cost and resources that they need. Though financial aid helps to make college affordable, most people feel stressed or overwhelmed when filling out applications. This can discourage students from starting the application process. The families and students who do not have experience with the process of applying for aid struggle the most. You are not alone in dealing with financial struggles; there are people to help support you.

Eastern offers support when dealing with navigating finances. The Office of Financial Aid is located in the Wood Support Services building on the first floor and is open Monday through Friday from 8:30 to 4:30. We met with the director of the Office of Financial Aid, Taylor Bischoff, and she reported, “...over 80% of students at Eastern submit a FAFSA” (Bischoff, 2025). Many students need aid to afford college, so you should not be embarrassed to ask for help. There are seven financial aid counselors split up into categories by last name who help support students. This information can be found on the Eastern website in the Financial Aid section under “Meet Our Staff” (Meet the Financial Aid Staff, n.d.). At the start of the semester, the office has about 150 appointments in a span of three days (Bischoff, 2025). The counselors are here to support every student at Eastern and will guide you through the financial aid process. They assist with anything regarding payment plans, submitting your FAFSA, or navigating applying for loans. When someone first makes an appointment they discuss your financial circumstances and what you need help with (Bischoff, 2025). Each counselor follows the same set of steps to go through the different approaches and options. These steps are looking for external scholarships, seeing if you qualify for direct parent plus loans, using the Eastern payment plan, or applying for alternative loans (Bischoff, 2025). Although most financial aid is determined at government level, the office helps to figure out ways to make college affordable. The goal of this office is to work in partnership with students to help them afford their education at Eastern.

Some issues that Eastern students have when coming to the office are where to start in applying for financial aid or how to manage college finances. There are payment plans that help reduce the stress of paying for the overall bill of attending college. This means that your cost is broken down into five installments that are paid over five months. Not only does this help organize the cost of college, but it also gives students responsibility for paying on time. This plan is available to everyone who attends Eastern, but in order to sign up, it costs thirty-five dollars (Frequently Asked Questions, n.d.). You can find information on the Eastern website under the frequently asked questions tab on the payment plan page. Understanding this process can help make paying for college a less stressful experience.

Another way to balance finances is with the help of loans and grants. The difference between loans and grants is that you have to pay back a loan, while a grant is gifted money. There are subsidized loans and unsubsidized loans. A subsidized loan does not accrue interest while you are in school, while an unsubsidized loan starts accruing interest as soon as you take it out (Frequently Asked Questions, 2025). Many students do not realize the difference between loans and it is important to know about them when applying for them. At the Office of Financial Aid, they use a website called “Elm Select” to help provide students with resources for private student loans (Bischoff, 2025). Although taking out loans can be a tricky process, the Office of Financial Aid is there to help students every step of the way.

In closing, navigating the financial side of college can feel overwhelming, but students at Eastern do not have to face it alone. The Office of Financial Aid provides many valuable resources, guidance, and supportive staff dedicated to helping students manage the cost of their education. Whether it’s understanding FAFSA, setting up a payment plan, or choosing between loans and grants, every student has the opportunity to make an informed decision regarding their finances. By taking advantage of these resources, students can focus more on their academics and personal growth, knowing they have the support they need to make college more affordable and less stressful.

References:

Frequently Asked Questions. (n.d.). Eastern Connecticut State University. https://www.easternct.edu/financial-aid/faq.html

Meet the Financial Aid Staff. (n.d.). Eastern Connecticut State University. https://www.easternct.edu/financial-aid/staff/meet-our-staff.html

Taylor Bischoff, interview, October 7, 2025