Don't Break the Piggy Bank Paying for College
By: Heather Mariscal RN, CCRN | October 11th, 2019
Don't want to be part of the 1.5 trillion dollar student loan crisis? It's time to do your research on how to pay for higher education without breaking the bank.
Student Aid
First of all, every college student should apply for Federal Student Aid. Yes, even if you think that you won't qualify!
FAFSA stands for Free Application for Student Aid. If eligible it provides aid for college students which is funded by the Federal government. Applying for FAFSA also provides information on eligibility for grants, scholarships, work-study, and Federal loans.
The FAFSA website also provides information on federal student aid eligibility, preparing for college, and if needed repaying student loans.
Federal Work-Study
Federal Work-Study can be a great option for you if you are willing to put in the work. You can earn money with a part time job while enrolled full time as an undergraduate or graduate student.
It is a Federal based program that aims to help you pay for educational needs while working a job that relates to your course of study.
To find out if you are eligible apply via FAFSA.
Scholarships
Scholarships are a great opportunity for you to get extra cash to put towards college expenses.
Many organizations have lists of scholarships that you can apply for to help meet your educational goals. Just by googling "college scholarships" millions of results are found.
Some results include:
Many organizations have lists of scholarships that you can apply for to help meet your educational goals. Just by googling "college scholarships" millions of results are found.
Some results include:
Federal Student Aid
College Scholarships
Discover Scholarships Directory
SallieMae
Each of these sites have information about scholarships and access to apply for scholarships.
Here is a video that will give you some inside information on where to look for scholarships!
College Scholarships
Discover Scholarships Directory
SallieMae
Each of these sites have information about scholarships and access to apply for scholarships.
Here is a video that will give you some inside information on where to look for scholarships!
Get a Job!
If you have the support and funds to get through college without a job that's great, but for those needing additional funds many entry level jobs have scholarships and reimbursement options.
Here are a few examples:
Starbucks will help part time or full time employees get their first bachelors degree through Arizona State University 100% tuition free.
Chipotle Mexican Grill will provide tuition assistance of up to $5,250 a year to help employees meet their educational goals.
Best Buy will give full time employees $3500 a year for an undergraduate degree or $5,250 a year for a graduate degree to help pay for tuition, fees, and books.
These are just a few examples, but many jobs have some form of employee assistance. So when looking at jobs make sure you check if they offer educational assistance.
Best Buy will give full time employees $3500 a year for an undergraduate degree or $5,250 a year for a graduate degree to help pay for tuition, fees, and books.
These are just a few examples, but many jobs have some form of employee assistance. So when looking at jobs make sure you check if they offer educational assistance.
Student Loans
Let's be real.If your higher education goals require more support student loans may be your best option.
BUT, be smart about it. That means use a reputable institution for your loan, prevent getting scammed, and look at interest rates.
BUT, be smart about it. That means use a reputable institution for your loan, prevent getting scammed, and look at interest rates.
Using FAFSA to seek eligibility for federal student loans would be your best first option. FAFSA will review your application to see if you are eligible to receive a Federal Loan which can be subsidized or unsubsidized. These loans usually have better interest rates compared to private loans and you won't have to start repaying the loan until you leave college or drop below half-time credits. When you do start repaying these types of loans, payment options are flexible.
Private loans can also be utilized to pay for college. Just remember to try and get the lowest interest rate possible when applying for this type of loan. You can apply for private student loans at banks such as Bank of America, Citibank, Wells Fargo or institutions such as SallieMae.
Private loans can also be utilized to pay for college. Just remember to try and get the lowest interest rate possible when applying for this type of loan. You can apply for private student loans at banks such as Bank of America, Citibank, Wells Fargo or institutions such as SallieMae.
Use one or use them all
No matter what path you choose to fund your education remember that you are investing in your future. Continue to research to find what option works best for you when seeking to finance your education.
References
Best Buy. Tuition Assistance Program Policy. June 26, 2010. https://corporate.bestbuy.com/wp-content/uploads/downloads/Tuition-Assistance-Policy-Final.pdf. Accessed 11 October 2019.
Broken Piggy Bank Picture. https://www.businessreport.com/business/small-business-challenges-solutions-advice-baton-rouge/attachment/broken-piggy-bank. Accessed 11 October 2019.
Discover. Scholarship Directory. https://www.discover.com/student-loans/college-planning/scholarships/directory/general. Accessed 11 October 2019.
FAFSA picture. Office of the U.S. department of Education.
https://studentaid.ed.gov/sa/fafsa. Accessed 11 October 2019.
Federal Work-Study Program Picture. https://www.insidehighered.com/views/2019/04/26/change-federal-work-study-program-so-it-encourages-useful-work-opinion. Accessed 11 October 2019.
Discover. Scholarship Directory. https://www.discover.com/student-loans/college-planning/scholarships/directory/general. Accessed 11 October 2019.
FAFSA picture. Office of the U.S. department of Education.
https://studentaid.ed.gov/sa/fafsa. Accessed 11 October 2019.
Federal Work-Study Program Picture. https://www.insidehighered.com/views/2019/04/26/change-federal-work-study-program-so-it-encourages-useful-work-opinion. Accessed 11 October 2019.
Friedman, Zack. Student Loan Debt Statistics in 2019: A $1.5 Trillion Crisis. Forbes: February 25, 2019. https://www.forbes.com/sites/zackfriedman/2019/02/25/student-loan-debt-statistics-2019/#4336af9f133f. Accessed 11 October 2019.
Future Leaders Start Here. https://www.starbucks.com/careers/working-at-starbucks/education. Starbucks: Accessed 11 October 2019.
McCatty Scholars. Where to Find College Scholarships. https://www.youtube.com/watch?v=I9F8h-uTClU. June 24 2018. Youtube: Accessed 11 October 2019
Future Leaders Start Here. https://www.starbucks.com/careers/working-at-starbucks/education. Starbucks: Accessed 11 October 2019.
McCatty Scholars. Where to Find College Scholarships. https://www.youtube.com/watch?v=I9F8h-uTClU. June 24 2018. Youtube: Accessed 11 October 2019
Office of the U.S. department of Education. FAFSA: APPLY for Aid.
https://studentaid.ed.gov/sa/fafsa. Accessed 11 October 2019.
SallieMae. Find Scholarships for College. https://www.salliemae.com/college-planning/college-scholarships/. Accessed 11 October 2019.
Scholarship Search Engine. http://www.collegescholarships.org/financial-aid/. Accessed 11 October 2019.
https://studentaid.ed.gov/sa/fafsa. Accessed 11 October 2019.
SallieMae. Find Scholarships for College. https://www.salliemae.com/college-planning/college-scholarships/. Accessed 11 October 2019.
Scholarship Search Engine. http://www.collegescholarships.org/financial-aid/. Accessed 11 October 2019.
Skinner, Elizabeth. Chipotle's Educational Assistance Program. November 1, 2016. https://careers-blog.chipotle.com/educational-assistance/. Accessed 11 October 2019.
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