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How do I pay for college if I do not qualify for financial aid?
I don't qualify for financial aid and I need a way to pay for college that doesn't involve spending every penny I have and then taking out loans.
#money #financial-aid #college
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3 answers
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Gordon’s Answer
Hi, Ryan,
There are a couple of lessons that I learned - the hard way - about financing college. First and foremost, adding debt is almost never a good idea, particularly if it's private, unsecured debt. There are a lot of companies out there offering student loans privately, but often they have high and variable interest rates - these are a mine field in your future. So what can you do?
In addition to the advice you've already seen above, here are two suggestions:
1. Consider doing your "core" work (the courses required by most colleges to graduate regardless of degree) at a local community college. This type of school is almost always far less expensive than a full University would be, and the course credit is easy to transfer.
2. Forget the "four-year rule." There's nothing at all that says you have to complete your degree in the traditional four-year time frame. Many people take courses piecemeal while working a job to help pay for them. True, this approach isn't as exciting as going away to college and getting the whole campus experience, but it does leave you in a much better position financially once you do complete your degree. And a side benefit is that if you should change your mind about what to major in (I did, twice!), you haven't invested tons of cash into a major that you now abandon.
All the best,
Gordon
There are a couple of lessons that I learned - the hard way - about financing college. First and foremost, adding debt is almost never a good idea, particularly if it's private, unsecured debt. There are a lot of companies out there offering student loans privately, but often they have high and variable interest rates - these are a mine field in your future. So what can you do?
In addition to the advice you've already seen above, here are two suggestions:
1. Consider doing your "core" work (the courses required by most colleges to graduate regardless of degree) at a local community college. This type of school is almost always far less expensive than a full University would be, and the course credit is easy to transfer.
2. Forget the "four-year rule." There's nothing at all that says you have to complete your degree in the traditional four-year time frame. Many people take courses piecemeal while working a job to help pay for them. True, this approach isn't as exciting as going away to college and getting the whole campus experience, but it does leave you in a much better position financially once you do complete your degree. And a side benefit is that if you should change your mind about what to major in (I did, twice!), you haven't invested tons of cash into a major that you now abandon.
All the best,
Gordon
Updated
Keith’s Answer
Hi Ryan,
Have you submitted your FAFSA? Many students don't realize that their school will provide more aid than they thought. Federal loans may not be as daunting as they seem, either. The earnings you can make with a degree versus a high school education are significantly higher, so remember to keep a long term view when considering the cost of attending college. Think about careers that you would like, and remember there's a cost to not attending college as well.
Keith
Have you submitted your FAFSA? Many students don't realize that their school will provide more aid than they thought. Federal loans may not be as daunting as they seem, either. The earnings you can make with a degree versus a high school education are significantly higher, so remember to keep a long term view when considering the cost of attending college. Think about careers that you would like, and remember there's a cost to not attending college as well.
Keith
Updated
Kyle’s Answer
Look for work study programs as well. Many colleges will offer tuition offsets or help you make money with reasonable hours by working for the school and earning towards tuition or direct money to you. Also, apply for any and all scholarships. There are countless scholarships out there that can help pay for books, parts of tuition, or even all of it. And though the bigger ones may be targeted towards high performing academics or those with far less means than others, there are plenty that fall within the purview of helping anyone that can qualify. Apply for any scholarship you can and you could be surprised by how much they can really help!