ways-to-finance-your-education

6 Options other than student loans to finance your education

Want to help the country overcome $1.2 trillion student loan debt crisis? If so, then try that you don’t become a troublemaker. For that, pay for your college without taking out a student loan. If you do so, you won’t become another student loan debt victim.

Let’s check out some simple ways by which you can pay for college without the support of student loans:

1. Opt for work-study programs

While you’re filling out the FAFSA (Free Application for Federal Student Aid) form, tick on the “yes” option in the point that asks whether or not you’re interested in work-study.

The Federal Work-Study (FWS) Program helps you to fund your college expenses.

Since work-study jobs are part-time, managing study and jobs side-by-side won’t be a problem for you. You can also work for an off-campus employer.

2. Take help from crowdfunding

Crowdfunding is a great way to earn money for college tuition fees. How? Just share your personal story on the crowdfunding sites (like GoFundMe, DreamFund, Indiegogo, Zerobound and YouCaring), and make the investors believe in your idea and get paid for it.

The Internet helps you raise money from a large number of individuals for your education.

3. Apply for scholarships and grants

Grants and scholarships need no introduction. Don’t forget that these student aids help to raise money for your college fees. So, apply for lots of grants and scholarships, which you think you’re eligible. By doing so, you’ll get at least one scholarship or grant to support your education.

4. Cook food and save money on food bills

Though foods at the cafeteria are convenient, they’re quite expensive and less nutritious.

Do you know how to cook? If yes, then instead of buying foods from outside cook your meal. Cooking food for yourself would save you lots of bucks that you can use toward paying for college tuition fees. Moreover, the art of cooking may help you later in life.

5. Reduce costs of textbooks

Textbooks are insanely expensive. Not that students have stopped buying those high-priced books.

You can save your precious dollars on college textbooks by:

  • Purchasing old editions of textbooks
  • Borrowing books from seniors
  • Getting books from library
  • Buying used books, and so on

6. Take a year off from studies

Obviously, you’re not gonna spend a year partying or traveling. A year off from college is a golden opportunity to work hard and save as much as you can. Moreover, if you go back home this time, you can save even more.

Don’t believe in the myth that student loan is the only option to fund your college expenses. You have plenty of options available at your disposal. Just know how to turn them to your advantage.

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Categories: Personal Finance