1 answer
Josh
Student
Graham, North Carolina
1
Question
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What is the most beneficial way to pay for college?
For the sake of easier life after college. #life
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1 answer
Anthony Moat
SAP Global Services Sales
17
Answers
Newtown Square, Pennsylvania
Updated
Anthony’s Answer
There are many options available to you to finance education. The important thing to keep in mind is not where the money will come from, but is my area of study worth the cost. Again, depending on your individual circumstances there isn't any one great answer for this. Realistically, if your parents aren't able to foot the bill (and most are not), you can apply for many different scholarships. Alternatively, government loans are available. You could seek out private loans as well, although government loans usually have a lower interest rate.
You should also not try to cover the entire cost of education entirely with loans. Be proactive and pay as you go, even small amounts will take a significant portion of your interest payments down. Also, utilize third-party credits. CLEP exams (college-level-examination-program) are a great way to earn credits and save on cost. Google: CLEP exam and see which exams your schools accept. You can earn 3, 6, or 12 credits from simply taking an exam. Each exam is $80 which is considerably less than a college course.
My final piece of advice is reiterating my opening statement. So long as you pick a practical area of study, something that will give you a skill that is of value to an employer, paying back your loans is secondary. If you instead choose a major that provides you no such skill, you will struggle and question why you took out loans for an education with such low return on investment. The doors your college degree will open to you are worth the loans. You just have to be willing to bet your obligation to pay, against your ability to succeed.
Best,
AM
You should also not try to cover the entire cost of education entirely with loans. Be proactive and pay as you go, even small amounts will take a significant portion of your interest payments down. Also, utilize third-party credits. CLEP exams (college-level-examination-program) are a great way to earn credits and save on cost. Google: CLEP exam and see which exams your schools accept. You can earn 3, 6, or 12 credits from simply taking an exam. Each exam is $80 which is considerably less than a college course.
My final piece of advice is reiterating my opening statement. So long as you pick a practical area of study, something that will give you a skill that is of value to an employer, paying back your loans is secondary. If you instead choose a major that provides you no such skill, you will struggle and question why you took out loans for an education with such low return on investment. The doors your college degree will open to you are worth the loans. You just have to be willing to bet your obligation to pay, against your ability to succeed.
Best,
AM