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Struggling to figure out how to pay for college? We’ve listed out eight smart ways to finance your education responsibly to get your college degree. 1. Grants Student grants are essentially monetary gifts given to individuals pursuing higher education. Unlike student loans, grants require no reimbursement at all. When applying or looking into grants, remember there are many types available including: state grants, federal grants, private grants, military grants, minority grants, low income grants and many more.
Unlike grants, a lot of scholarships can be merit-based and awarded to students with certain qualities such as outstanding academic or extracurricular abilities. There is an abundance of scholarships awarded for other things or waiting to be used in general. Another helpful resource for finding scholarships is the easy-to-use search app, Scholly.
The U.S. Government offers a number of grant and loan programs to help eligible students finance their undergraduate and graduate school educations. They can help you pay for your education expenses such as your tuition and fees, textbooks and living expenses while you are a student. Federal financial aid programs are available for students who qualify.
Just like every big life decision, you have to plan ahead to set yourself up for success. If you are planning to study in a few years, and your family wants to prepare for the cost of college now, you can use 529 plans to benefit from tax savings and help build up your college fund. Some states offer one or more types of 529s, which allows you to save money, tax-free, in a special account that earns a return on investments. Once you’re ready to enroll, the money in the fund can then be spent on things like tuition, books, housing and other costs.
Some student loans may be “forgiven” depending on your profession within a particular service area and other circumstances in your life. This may be the case if you have joined AmeriCorps, Peace Corps, Teach for America, Army Reserve, National Reserve and more.
No matter how you look at it, your dedication and drive for higher education is a great investment. By earning your degree you have a greater chance of obtaining a higher-paying job and create a better life for you and your family. Group together all of your family members and turn your college education into a business plan, essentially making it an investment and let them know what they or family friends can get back by helping you finance it.
As a new undergraduate student at Strayer University, you’ll receive your very own Graduation Fund the day you enroll. As you successfully complete classes your affordable college fund automatically grows and can cover the tuition for up to ten of the final classes you need to graduate. Saving you up to $14,200 on tuition, and further encouraging you all along the way. Learn more about our Graduation Fund.
For the Strayer University Success Coaches, your success is theirs. They believe in you and focus on helping you achieve your goals. Through a range of services, they are right there with you from enrollment to graduation, guiding you along the path to personal success. If you are having doubts or questions about how you will afford college, connect with your Success Coach and get the support you need. Learn about the benefits of having a Success Coach.