Daily Archive: August 16, 2015

Ways to Fund Your College Education

College education is undoubtedly expensive. The average cost of tuition fees for a bachelor’s degree is more than $20,000 per year at a public college, and about $30,000 per year at a private institution, according to the College Board. This is not to mention the amount that you need to pay for your housing, transportation, food, books, and other living expenses.

While the cost for college can seem overwhelming, many students still prefer to continue their education and complete a college course. Well, with the benefits that you can get by having a degree, going to college is extremely worth it.

Fortunately, there are different ways to help you fund your education and cover any of your additional college fees and living expenses.  If you’re considering about pursuing a college degree, then read on to explore your options.

Fund Your College Education

Grants and Scholarships

 

These are, by far, the most common source for tuition fees. Grants and scholarships are typically offered by schools, companies, and organizations (both government and private). But to be eligible, you must meet certain requirements first, which can vary depending on the type of scholarship and the organization offering it. Most scholarships that are offered by schools and private companies are merit-based, which means that you need to have good grades or excellent academic standing to qualify. On the other hand, scholarships that are offered by federal agencies are usually need-based, which means that your eligibility is determined by your family’s financial circumstances. But keep in mind that those organizations that offer need-based aid may also require you to get a good average to maintain your scholarship. And the same goes for those individuals or institutions providing merit-based scholarships.

Loans

 

Another common way to fund your college education is by applying for a student loan. In the U.S., there are commonly two types of student loans: federal loans which are sponsored by the government and private loans which are sponsored by private organizations. You can apply for either of these loan programs to cover your college fees and expenses. But keep in mind that unlike scholarships, you need to repay them. Repayment schedule vary on the agreement between you and the provider, but typically, you must pay them back a few months after you graduated. Tip: Only borrow the amount that you need – because the more you borrow, the more money you have to pay back.

College Work-Study

 

If you don’t want the idea of borrowing money to fund your education, then one alternative is to work while studying. These days, many students are already considering this option as it doesn’t only help them fund their tuition fees, but they also help them cover their living expenses and more importantly, gain work experience. If you have lots of spare time, consider applying for part-time jobs, either outside or inside your campus.

Bottom Line

As they say, nothing in this life is impossible. So even if you came from a poor or an average family, you can still pursue your education and reach your dreams. Just be willing to do everything and be patient. And try to consider those financial aid and scholarships mentioned above to help you in your college journey, whether you want to apply for dialysis technician training, nursing training, or an engineering college course.