Paying for College
For many people, it’s hard for them to decide how they are going to pay for college. It can be expensive and many people live in fear of how they will pay the debt they accumulate. But you don’t have to go broke to pay for college. Whether you’re a current student or will be attending school this guide outline the resources available to students to pay for their college education.
Fill Out A FAFSA
FAFSA is a free application for financial student aid. Once you fill out an application you are eligible to receive financial aid. Which includes federal grants, work-study opportunities, student loans, and some state and school-based aid. Even if you don’t expect to qualify for financial aid you should still apply.
Use Grants if You Qualify
The federal government offers several types of grants. The benefits of grants are that students don’t need to pay back grants and many states have grant programs. To find the agencies in your state use this map on the Education Department website. Then you can look up and apply to state grant programs that you may qualify for.
Search for Scholarships
Scholarships, unlike student loans, don’t have to be paid back. There are thousands are available; use a scholarship search tool to narrow your selection. While many scholarships require that you submit the FAFSA, most also have an additional application.
Get A Work-Study Job
College jobs are great they provide income, work experience, and can be a valuable reference. The federal work-study program funds part-time jobs for college students with financial needs. To apply, just submit the FAFSA. If you qualify, you’ll see “work-study” listed on your financial aid award. However, just because you’re eligible for work-study doesn’t mean you automatically get that money. You have to find an eligible work-study job on your campus and work enough hours to earn all of the aid you qualify for.
Take Out A Federal Loan If You Have to
If you need to borrow to pay for college, take out federal student loans before private ones. Federal loans have benefits that private loans don’t. Some benefits include access to income-driven repayment plans and forgiveness programs.
Choose An Affordable School
Paying for college will be easier if you choose a school that’s reasonably priced. To avoid straining your bank account, consider starting at a community college or technical school. If you opt for a traditional four-year university, look for one that has good financial aid. Focus on the net price of each school or the cost to you after grants and scholarships. Use the school’s net price calculator to estimate the amount you’ll have to pay out of pocket or borrow.
Related post: What to Expect As Freshmen In College
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