College and other higher education can be costly. We see in the media the debates regarding student loan forgiveness. However, if you want or need to further your education, it will be up you to figure out a way to pay for it. College, and technical schools are true life-long, high dollar, investments. You want to get the most for your money, without overpaying or going into mountains of debt. This week we review potential ways to make this investment less of a financial burden.
START HERE! One of the first things you need to do is complete the FASFA, Free Application for Federal Student Aid. It is the “holy grail” of student financial aid and should not be skipped even if you don’t believe you, or your parents, will qualify. Why?? Most colleges and universities require some portion of FASFA’s information in order for a student to receive college specific assistance as well. So if you skip the FASFA you may also be skipping additional benefits.
BUT DON’T STOP THERE! When looking for money to pay for college, don’t stop at only the FASFA. There are thousands of organizations and companies which offer scholarships and grants for students meeting their criteria. Spend some time on a Google search checking out fraternities, sororities, trade groups, unions, businesses (of all kinds and specifically in the industry of your major), religious organizations, clubs (Rotary, Lions etc.) and anyone else you can think of.
If you are employed, review your company’s tuition reimbursement program. In many cases, if your classes are related to your current position, and sometimes even if they are not, your job may pay for classes, books or even reimburse travel.
Also, don’t just apply for “big dollar” scholarships and grants. Mainly because EVERYONE is applying for those and the competition will be stiff. Smaller dollar options are just as good and may be overlooked by many. Believe me, $500 here, $1,000 from there, adds up, and pays for college just the same.
Popular Scholarships for College
FIND A COMMUNITY! A community college that is. Community colleges are excellent way to reduce the cost of higher education. On average, when compared to public and private institutions, students can save up 50% of tuition cost, if not more. Of course, this depends on where you go and if the student stays on campus, but there are savings to be had by attending community college for one or two years. Plus another big way to save is to commute from home and forgo the room and board charges. That could save you thousands as well.
Community College vs. Four Year University:
THINK “SMALL”ER! Bigger doesn’t always mean better. There are benefits to attending a small college opposed to one of the bigger, and possibly better known, colleges. It really depends on your degree plan and what you are looking for in a college. Small colleges can be less expensive, PLUS provide smaller class sizes and greater access to educators and staff. They can be more low key and simple, but not necessarily in a bad way. Again, they may not have many of the amenities found at a larger university. However, don’t rule them out. Research and visit at least a couple of smaller colleges for comparison to their larger counterparts.
Should You Attend a Small College or Large University?
START EARLY! I cannot stress this this enough…START EARLY. Most scholarships and grants have documentation requirements and submission deadlines. Also, most colleges are very strict about upholding those requirements and deadlines. Allow yourself time to gather the proper information, write needed papers or essays, ask questions, secure letters of recommendations, submit applications and make corrections if needed without feeling rushed. Another tip is to review all documentation before submission. Confirm all information is current and correct. Remember, application mistakes could cost you the scholarship or grant.
Are there any college tips you would like to share. Do you have a favorite on the list above? If so, I love to hear it, contact me here or Facebook.
Until Next Time…
Thanks and Be Blessed
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