Smarter way to pay for your school?

Answer 1

Many potential college students worry about not being able to pay the tuition fee or that they will graduate with great debts. However, there are smarter ways how college students can afford their education.

First, do not think that financial aid is very limited because there are more than $168 billion of aid available so that students can continue with advanced education beyond high school. Secondly, parents’ savings, income, and the incoming students’ grades all have little to do with financial aid. In addition, even if the student is granted a loan as part of the financial aid, he/she is not required to take it. There are also supplemental loans for students and families who still cannot afford the education with the granted financial aid.

Students qualified for work-study can often take up another part-time job as work-study positions are usually not demanding, giving students a lot of free time to do their school work while earning money. Working at the library is one of the ideal jobs as it offers student workers a quiet environment to study and the job duties are usually light.

Another good way to pay for college education is through scholarships. Many scholarship applications can be found in online databases. Also, remember to check various sources, such as military, fraternal and professional organizations. For students who are involved in local religious and community service, such as the Rotary Club, they may be eligible for a large amount of funding that can cover their entire undergraduate education.

In addition, students should check with their potential universities and state departments to see if there are any available scholarships. Some private companies like Coca Cola also offer big sums of merit based financial aid for students to pay for their college education.

As it can be seen, there is no shortage of ways that prospective students can pay for their higher education. All one really has to do is to explore different options.

Answer 2

Many college students, faced with the daunting cost of tuition, fees, and books, turn to the most readily available source of payment - credit cards. Unfortunately, this decision usually proves to be a costly mistake. While credit cards are a convenient way to pay for college expenses and often offer low introductory rates, their interest rates quickly reach exorbitant levels. In the long run, accumulating credit card debts often lands students in financial crisis.

Fortunately, there are many other options available for funding one’s college education. A student’s first step should be to check in with the Office of Financial Aid at his or her university. The university will often provide students with a financial aid counselor that will help them through the financial aid application process.

At almost every college or university, a student must complete a Free Application for Federal Student Aid (FAFSA) before any other financial aid applications can be processed. The FAFSA enables the student to apply for federal student aid, which is available in many different forms. Federal aid includes a number of grant programs, such as the Federal Pell Grant or the Teacher Education Assistance for College and Higher Education (TEACH) Grant. In addition, there are several federal loan programs. These include: Subsidized and Unsubsidized Stafford Loans as well as PLUS Loans. Students can find FAFSA forms as well as information on the various federal student aid programs at FAFSA’s website http://www.fafsa.ed.gov/index.htm.

Also, the student’s college or university should offer many campus-specific scholarships. After filling out the FAFSA, the student may be able to fill out one master application for campus scholarships or she may need to fill out separate applications for each scholarship. The university financial aid counselor will have the specifics on such procedure.

But a student shouldn’t stop her scholarship search there. There are many private scholarships, available through various corporations and foundations, available to students enrolled in any college or university. The student might try searching the web for scholarships based on his major or based on unique personal attributes, such as being of Native American descent or having a veteran in the family.

With such a wide variety of grants, scholarships, and loans, students should make wise financial decisions about financing their education. The hard work of researching and applying for these aid programs will pay off in the years to come.