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Financing Education: 5 Ways to Help Pay for College

Nov 5, 2016

Whether you’re an undergraduate or working on a master’s in computer networking, a college education is an important aspect of one's life. It dictates career opportunities and personal capacities. 

Over the years, however, the rising costs of college education have brought upon billions of dollars’ worth of debt and millions of students scrambling to get a job to repay the loans before it gets insurmountable due to interest. 

Luckily, a college education isn't just reserved for those born with a silver spoon in their mouth. Students on a shoestring budget can still finance their way to higher education and, subsequently, a better life.

Work


Working part time in college and still passing your classes is more than possible. Ideally, you could get a job on or within walking distance of campus, like driving your campus school bus or giving prospects a premier tour. 



Regardless of what you pick, getting part-time work is a simple way to finance your college education. It also teaches you how to manage time wisely since you'll often need to tailor your part-time work schedule with classes. 

Having work experience also gives you competitive edge in the workforce against other fresh college graduates.

Apply for Aid


To be considered for financial aid, you'll need to secure and submit a Free Application for Federal Student Aid (FAFSA) form. 

Depending on where you plan on enrolling, additional requirements may be applied, such as CSS or Financial Aid Profile. Completing the FAFSA gives you eligibility for the highest amount of financial aid possible for your given circumstances and chosen college.

Get Good Grades


Getting good grades in high school is a prerequisite to grabbing some grants and scholarships for your college education. Common options for grants include the National SMART grant and Pell grant. 



Each grant program has its respective set of requisites, which you'll find on their websites. Top grades can land you a full-ride scholarship, some of which can pay for everything from books to food.


Get Local Help


There are many local institutions that provide scholarships for students who are enrolling in a local college/university. 

Civic and religious organizations alike have awarded significant sums of money to their students' education. You can find many legitimate websites providing a list of grants and scholarships within your local area.

Capitalize on 529 Plans


For high school students who have enough time before they start applying for college, a 529 plan can be an attractive tool for you. 

The plan basically enables students to choose from a set of funds in which to invest. The investments range from money market funds to residential and commercial properties.

Financing your way through college can be tough at times, whether you're the parent or the student. With these five techniques, however, you'll be able to cushion the financial blow and put yourself at a better position after college.


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