3 Methods of Paying for College

If you’re a senior about to graduate and go to college, you’re probably wondering how you’re going to pay for it. Paying for school can be very stressful and expensive, but if you play your cards right, you’ll be able to find the funds to make it work. Take a look at these three methods you should consider when trying to figure out how to pay for college.

Work

Many people need to work while attending school. The key to accomplishing this is time management. Seek out a counselor who can help you prepare by teaching you the skills you will need in order to balance work and school. When job searching, look for a company that offers tuition reimbursement. Many firms offer this, even for part-time employees. Some downsides are that you may have to stay with the company a certain amount of years after graduation, or you may need to pay tuition upfront before you are reimbursed. That being said, getting tuition reimbursement through your work is a beneficial and efficient option.

Student Loans

A student loan is in the category of money you do need to pay back. Additionally, these loans come with interest, which means you are paying back more than you initially borrowed. You may want to consider a loan with terms that allow you to pay the interest while you are in school. When shopping around, keep in mind that interest rates can vary as well as the terms. How much you can borrow for a student loan depends on factors such as the type of loan, your status as a student, and how much financial aid you are already receiving. Try to view loans as a supplemental form of tuition payment and borrow as little as possible.

Scholarships

A scholarship is in the category of money that you do not need to pay back. Scholarships come in varying amounts, and the guidelines for who can apply can vary greatly. Some scholarships are attached to the school you are attending, and other scholarships allow you to use the money toward any school of your choice. When searching for scholarships, beware of scams and only use government websites and sources approved by your current or prospective school. You might be surprised to find out about the many different types of scholarships that are available.

All of these school tuition payment options can be used in conjunction with one another—and they often are. Figuring out how to pay for school can seem like a job within itself. Try to borrow as little money as possible, but, in the end, do not let money get in the way of pursuing your education.

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