How to Finance College
Students can apply for both federal and private loans. Federal loans are low-interest loans guaranteed by the U.S. Government. Students must submit a Free Application for Federal Student Aid (FASFA) to determine eligibility for all grants and student loans. Private student loans are offered by certain lending institutions and are popular choices for those looking to cover additional costs not covered by federal loans.
That being said, traditional college is not for everyone. There are many fields in trade schools that can afford you the opportunity to earn while you learn as opposed to getting into debt as you work towards a degree.
However, if you are dead set on college, let's get you moving forward!
1. Consider Community College
Most colleges offer an Associate's Degree acquired in as little as 2 years. However, larger institutions will generally charge you a lot more than local community colleges to get to this level. Even if you plan to work on a Bachelor's, Master's degree, or beyond, you can typically complete your initial credits at a community college for pennies on the dollar.
2. Grants
Many federal and state grants are made available to students to help pay exorbitant college costs. Specific grants are available to low-income students, minorities, graduate students and students with exemplary academic records. If you're not privy to a scholarship, apply for every grant you can!
3. Scholarships
Students can apply for many types of scholarships, including those for athletics, minority status or academic excellence. Students must typically submit an essay or at least a personal data form when applying for a scholarship. There are thousands of scholarships made available by private organizations, non-profit organizations and corporations every year.
4. FAFSA
Submitting a FAFSA application lets you know what financial aid (including federal grants, work-study opportunities, student loans, and some state and school-based aid) you're eligible for! Apply here.
Fill it out as soon as possible because some colleges award money on a first-come, first-served basis. The FAFSA, also enable you to potentially qualify the Pell Grant.
5. Get a work-study job
Certain federal/state work-study programs fund part-time jobs for college students with financial need.
To apply for work-study, submit the aforementioned FAFSA. If you qualify, you’ll see “work-study” listed on your financial aid award. You will have to work out a work/class schedule for yourself in order to stay on track.
6. TALK TO US!
Listen - you are not alone. Sometimes, your family and friends don't have all the answers. We are here for you. We want the best for you in every stage of your life.
Visit this page and let's talk soon.