Financing Options For Your Lofty Educational Goals

Though your dreams may take you far in life, it takes money to acquire the education possible to achieve those aspirations.  It has become pretty uncommon for parents to have enough extra money to fund their children’s higher education.

Only a small percentage of the U.S. population has enough extra cash for an educational savings, so the financial responsibility of college has largely (for years) fallen upon the high school graduate.  It can be overwhelming to try to conquer the cost of college on your own at 17 years old.

Luckily, the internet is packed full of useful information.  Here are a few helpful hints towards finding feasible financing options to meet your lofty educational goals.

Get a side hustle

If you are not someone that performs well in the typical manners of earning scholarships and such, then picking up a creative side hustle may be the best way to make those college payments.  Many people work their way through college, and it is totally feasible.

The internet provides hundreds of opportunities to make money, and just a little research will uncover the best suited jobs for you.  For a few “getting started” ideas, check out this short list.

  • Write and maintain a  well-designed blog presence, like this one.
  • Work for Uber.
  • Check out mobile apps like Field Agent.
  • Sell stuff on eBay, Etsy, or Amazon.

Merit Based Scholarships

Do something awesome in school, and you might be lucky enough to be awarded a merit-based scholarship to college.  If you get extremely awesome grades or perform well on the ACT or SAT, then you will probably qualify for a merit-based scholarship.

Need Based Grants

People who apply for financial aid, and can show that they have a substantial financial need, may be granted the money to pay tuition.  Grants are also a financial solution that does not require the student to repay the money that is given.

Work-Study Employment Plans

Students have the opportunity to apply to their school for part-time work study employment.  The money made working for the educational establishment is put towards paying off tuition charges.  The U.S. Federal Government reimburses the school for up to 60 percent of the money earned by each student.

Private Loans

It is sometimes possible to acquire a private loan from a family member or personal banking location for the purpose of paying for school.  This option is not viable for a great percentage of students, but is a sound financial decision, if possible.

Stafford Loans (Subsidized and Unsubsidized)

The most common financial solution students make is to take out a Stafford Loan.  Government loans are available to just about anyone who cannot afford college tuition, but they come with a high interest rate.