Roughly 15 million students are enrolled in college today. Most of them don't have the money to pay their tuition out of pocket.
That begs the question... How do so many people afford higher education?
Paying for college tuition has been an educational hurdle for a long time. Fortunately, no matter your financial standing, college is still attainable so long as you're willing to explore your options.
Below, we share five financial avenues that most students go down to make their college dreams a reality.
1. Complete a FAFSA
A FAFSA is an online document that you can fill out which lets the government know if you're entitled to student aid. Filling out a FAFSA is 100% free and takes a nominal amount of time so there's no reason to not submit one.
If you qualify for assistance, a FAFSA can award you both federal and state grants for school. It may also offer you the option to take out low-interest college loans that are backed by the government.
2. Apply for Local, School and National Scholarships
Paying for college tuition through scholarships is probably the most well-known means of bridging the higher education financial gap.
Generally, the more niche the area is where a scholarship is being awarded, the better the chance that an applicant has of getting it. Start your scholarship search in your community. Then, apply for major-specific scholarships at your school. Finally, look into more competitive, national scholarships.
3. Get a Job
This paying for college tuition suggestion is an obvious one. If you need cash while in school, part-time employment can help you meet your needs.
Most employers that are in college towns work with students frequently. Consequently, they understand the importance of flexible scheduling around classes.
4. Ask For Help
Are you curious to know how much friends and family might be willing to contribute to your college fund? All you have to do to find out is send an email to the people you know describing your educational ambitions and financial challenges. Then, ask for assistance.
One email could equal thousands of dollars of college expenses off of your plate.
5. Pursue Loans
If all else fails, taking out student loans is always an option when paying for college tuition. You'll want to learn more about the different types of loans (personal loan, cash advance loan, student loan, etc.) and their limitations before applying for anything.
It's important to note that student loans cannot be discharged meaning that you can't declare bankruptcy against them.
Paying for College Tuition Shouldn't Stand Between You and Your Education
A lot of people look at the prospect of paying for college tuition and let it keep them from going to school. In our opinion, if you pick an affordable college and a sound major, your increased lifetime earnings should pay off your student debt multiple times over.
We wish you the best of luck in your collegiate career and welcome you to read more of the content on our lifestyle blog for additional inspiration.