Not every person who goes to college has a scholarship or parents who started saving for their higher education when they were a baby. College, in some cases, can be so expensive that potential students don’t go. It’s sad to hear that finances could be the difference in an eager learner not getting to go after their dream of going to college.
It’s time to work on making that dream a reality for all who would love to further their education. Here are seven ideas of how a student can get a college education without scholarships or Mom and Dad paying for it.
FAFSA
FAFSA is also known as Free Application for Federal Student Aid. This application gets you into the system of student financial aid. It connects you to the possibility of receiving aid in the form of student loans, state and school-based aid, federal grants, and work-study programs. You may not qualify for certain aid, but your chances of receiving financial aid increase with this application, so there is no downside to filling it out even if you don’t expect to qualify for any aid.
Scholarships
When most people hear the word scholarships, they think of full-ride scholarships based on sports or academics. The average student doesn’t qualify for this type of scholarship. However, there are so many scholarships out there if you know how to look for them and are prepared for the writing you will have to do to get them. Many businesses will benefit scholarship students through essays or other means of connection. Scholarship money is ideal as it is not a loan and doesn’t have to be paid back.
Community College
While some degrees require you to go to a specific college, many degrees can be obtained at a community college. Even if you have to go to a specific college to pursue your degree, community college is a great money-saving way to get the basic classes required out of the way for much less cost. The key is to be sure that your credits will transfer once you are ready to change to the college to get your degree.
Grants
Grants are free money usually given out through government programs. These grants are free money because you don’t have to pay a grant back like a student loan. Though they may be a little difficult to get, they are at least worth the chance.
Work-Study Job
Work-study jobs allow you to earn money and, in some cases, earn credits towards your degree. These jobs are community service jobs, jobs related to your area of study, or jobs on campus. These jobs can be obtained by seeking out jobs that are listed as work-study jobs. You can also fill out the FAFSA application and find out if you qualify for a work-study program.
Federal Loans
Suppose you don’t qualify for those means of paying for college that doesn’t have to be paid back or is attached to your job. In that case, you may need to apply for a federal student loan if you decide to take out this type of loan, only an amount that has payments that will equal less than 10% of your projected monthly income after taxes.
Federal student loans are better than private loans in that there are programs that can help you pay back the loans based on income and some other loan forgiveness plans.
Private Loans
Private loans can be great but expensive, and since they are not through the government, they will not qualify for any student loan forgiveness programs. You must shop for the most flexible, lowest interest loan you can get.
Many private student loans don’t require you to pay the money back until after you graduate. Though this could be a relief so that you don’t have to get a job during college and focus on your studies, these loans usually accrued interest while you’re in school. There are interest calculators that can help you determine how much your accrual will be and how much you will owe in total.
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