6 Ways You Can Afford College
A college education is an important but very expensive investment. While investing in college is worthwhile, financing college isn’t easy. The average American leaves college with a debt of 23,000 $. This can be a major setback to the personal budget of someone who is just stepping out into the ever so competitive job market. While financial aid is tricky, there still are ways to finance college.
Keep an eye out for tuition deals
In the past couple of years, several colleges have introduced tuition freezes. With more universities moving towards freezing or reducing tuition fees it might just be possible to land a good tuition deal. A few cities have begun to offer free tuition to eligible students as well.
While full academic and athletic scholarships are a smooth deal, these are highly competitive. Consider smaller scholarships. Ranging from ethnicity, locality, university and field of interest, you might just land a few small scholarships that take a huge load out of your student debt.
Consider Income-Driven Repayment
IDR makes it easier for federal loan borrowers earning salaries that are low compared to the debt they incur to pay back their loans. Under this scheme you could get student loan forgiveness on up to 25 years of payments. This keeps you from defaulting on your repayment plan.
Enquire into employee benefits
You will find many employers who make student loan repayment plan a part of their benefits. These range up to full tuition reimbursement programs. Some organizations offer this benefit even on part-time jobs. Additionally, if you work at your college, you might just have your tuition paid for.
Make sure your grades stay up
Federal aid for some students is hard to get. However, there is a significant increase in merit-based financial aid. With merit based aid doubling up, it is in the best interests for students to pull up and maintain their grades. Ensuring eligibility is a matter of keeping grades up and starting your search for scholarships early.
Pick your college wisely
How much you pay for college is directly related to what college you go to. Find out which colleges offer aid to students from the same financial background as you. Use online tools to decide which colleges are best for you.
Financing college is all about planning and staying aware of all information on benefits and student aids. Savings, studying and working smart is the key to putting yourself through college.