Funding Your Education: 5 Possible Options to Pay for College By Scott Ragin

161011_piggy_bank_money_financial_aidFinding money for college is a difficult task, but it is one that nearly everyone needs to do. As student loan debt has recently reached $1.2 trillion, many high school graduates become more and more interested in alternative ways to pay for college in order to avoid serious debt. It is a known fact that college education in the United States is expensive for many, and the price for tuition continues to rise every year. Even though federal loans are provided to help students get through college, they do not always cover the entire cost of tuition, and many students are graduating with thousands of dollars in debt.

Are there some alternatives that could be used to pay for college? Clearly, no federal loan can cover a substantial portion of the costs, and private loans that have ridiculously high interest rates will have students overpaying by thousands. In this article, we will show you five excellent alternative ways to pay for college tuition.

1. Select the right college

The education costs greatly depend on the college, so choosing the one that offers reasonable financial aid can be really useful. For example, private colleges are known for higher education costs and fewer financial aid opportunities, while public colleges may offer lower costs and more help for their students.

2. Work part-time

There is always an option for college students to get a part-time job and earn some money on the side. There are many companies that accept students as part-time employees and provide great flexible schedules to ensure they can balance work and their studies. According to Business Insider, social media assistants, online researchers, grant analysts, content editors, writers, and guest service coordinators are among the highest-paying part-time jobs any student can get. If this sounds like a good option for you, just check the local job boards and find some opportunities close to college or home.

3. Grants

Grants are another option that can cover a significant part of your college education bill. They are generally provided by federal or state governments but can also come from private organizations for specific student populations, including those with a particular study area or a unique trait. For example, a private organization can offer grants for students that learn only history or gender studies, so checking whether there is such an opportunity at the college you want to apply to is a good idea. The sizes of these grants vary depending on the subject, so do some research and find out your options.

4. Scholarships

There are many kinds of scholarships that can be used by students to pay the bill, including those based on the major, heritage, or even employment of your parents. Doing research here is important as well because hundreds of scholarships are unclaimed annually simply because no students applied to get them. It is highly recommended to look for scholarships while still in high school because some of them might be designed for students that enter during particular years or students that are from particular schools. Find more information on how to write an application letter or essay for a college scholarship at Aussiewriter.

5. Tuition reimbursement from companies

There are many employers that are willing to pay for college if you work for them and there are no special requirements present. Of course, you might need to work for them a particular period of time after graduation, but it can be totally worth it because if you select a good company that operates in your study area you can get a valuable experience as well. For example, students at medical schools often work in health care institutions because of the nursing shortage, and get both tuition reimbursement and professional experience.

The Bottom Line

Evidently, there are some good ways to pay for college without having to borrow money, so using them is a good way to avoid student loan debt. It may be difficult to find the right option for you because there are so many colleges, but doing research will help you to make the choice and enjoy spending years in college.

Scott Ragin is an online tutor and experienced high school educator.  Scott is always trying to create all the necessary conditions for the development of a well-integrated personality in his students. He loves guiding other people through their teaching practices and shares his ideas as a blogger. Feel free to contact him on Facebook.