Unique Ways to Pay for Your College Education
Friday, May 22nd, 2009
Everyone knows that college is without a doubt expensive. And most people know about financial aid like scholarships, grants, student loans, and even work-study programs. But did you know that there are even more options available? Read on to learn about paying for college in ways you probably haven’t thought of.
Find a college that really wants you. At an Ivy League school, you may be a small fish in a big ocean, but attend a less prestigious college, and you can be one of the big fish. In fact, you may even find that these small pond schools will find aid and scholarships that will make it possible for you to attend. Look for a college where you’ll fit into the top 25% of the class, and the school will likely be very interested in pursuing you.
Go to a tuition-free school. It sounds like a dream, but it’s true. There are actually some colleges who don’t charge students tuition. Go to one of these schools, and college money won’t be an issue for you. Most schools will require you to work several hours each week to "pay" your way along.
Do community service. Although you’ll have to pay for school upfront, there are programs that will allow you to wipe out your student debt in whole or in part just by working. You can cancel your education debt by working in public service jobs that serve low income communities or through volunteering. Programs are available to teachers, doctors, lawyers, nurses and even in the Peace Corps.
Refinance your home loan. Use the equity you’ve built in your home on something that can make you money right now-a better education. This option does require some risk on your home and depends on how much equity you’ve built, but can work well for many.
Work while you’re in school. It’s not easy, and it may cause your schoolwork to suffer if you take on too many hours, but working while you’re in school can give you the funds you need to pay cash for school and not have to worry about student loan debt down the road.
Although these are not the most traditional ways to pay for your college education, we think you’ll find that they are effective for many students. Explore all of the options you have when it comes to paying for school.
