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What should I do now that I'm growing up (meaning the money I need is growing too)?

I also work but the money I get through my work doesn't fit my school bills especially now I'm going to enroll for college.? I'm Jelian, 17, grade 12 student. I'm going to enroll in college next year but my savings are not enough.

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Justin’s Answer

Hi Jelian,

Preparing for college with limited savings can be challenging, but there are strategic steps you can take to ease the financial burden:

Scholarships and Grants: Apply for as many scholarships and grants as possible. These are often based on merit, background, or specific talents and don’t need to be repaid. Websites like Fastweb, Scholarships.com, and College Board are great places to start.

Federal and State Financial Aid: Fill out the FAFSA (Free Application for Federal Student Aid) as soon as you can. This can help you qualify for federal and state grants, work-study programs, and low-interest student loans.

Community College First: Consider starting at a community college and transferring to a four-year university later. This can significantly reduce the overall cost of your education while allowing you to save money.

Part-Time Work: Explore part-time jobs that offer flexible hours and decent pay, such as tutoring, working in retail, or online jobs like freelance writing or virtual assistant work.

Work-Study Programs: Look into colleges that offer work-study programs as part of their financial aid package, allowing you to earn money for educational expenses through on-campus or related jobs.

Budgeting and Saving: Create a strict budget to manage your current savings and expenses effectively. Cut down on non-essential spending and set aside a portion of any income for college.

Talk to Financial Aid Offices: Reach out to colleges’ financial aid offices to discuss your situation. They may have additional scholarships or advice on reducing costs.

Side Hustles: Consider side jobs like selling handmade crafts, offering tech help, social media management for small businesses, or tutoring younger students in subjects you excel in.

Crowdfunding: If you're comfortable, consider starting a campaign on platforms like GoFundMe to share your story and seek support from your network.

Internships: Look for paid internships in your field of interest. These can provide income and valuable experience, making it easier to secure a well-paying job post-graduation.

Starting early and being proactive can help you build a more secure financial foundation as you move into college.

Best of luck!
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