Video: Financial woes hitting high-school students

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SEATTLE - The nation's financial crisis is trickling down to high school seniors.

Some are now wondering if they can afford to go to college.

Until a few weeks ago, senior Tia Peshon only worried about getting into her dream university, but now she's worried about how her family will afford it if she does. She recently learned her college savings plan has shrunk dramatically.

"It's hard to grasp that you've been saving up all this money for college and then all of a sudden its not there," she said.

Now Tia is trying to position herself as a prime candidate for merit scholarships.

"I already have taken both the SAT and the ACT but I'm re-taking the SAT just so that I can get a higher score and possibly a higher scholarship," she said.

Her friend Lauren Glass is so concerned, she's already completed her first scholarship application.

"So many people are affected and so many people's parents have lost their jobs that there are going to be a lot more kids who need that extra money, so there's just going to be waves of kids applying to the same scholarships," she said.

KING

Just days into the school year, UW's financial aid office is bustling.

Wendy Krakauer is the head counselor at Roosevelt High School. Her advice is that students seriously consider private colleges with good endowments.

"We see every year that students that apply to private schools with the scholarships that are available sometimes end up with a more affordable college education than if they had gone to a public university," she said.

The financial concerns extend to students who have already begun their college career. At the University of Washington, officials say they've seen an 8 percent increase over last year in students applying for financial aid.

"There are still funds and we would rather they would come and see us now rather than waiting until it gets even worse for them or if they're just not sure how they're going to make that payment," said Kay Lewis, Director of Student Financial Aid.

Counselors are urging high school seniors to still apply for college even if funds are a problem, since there are so many different kinds of scholarships, grants and loans available.