These days it seems practically impossible to pursue a college degree without graduating with a mountain of debt. Studies show that roughly 70% of today’s college graduates leave school with a whopping $37,172 student loan bill. That’s a lot of cash, but don’t worry, it’s not all doom and gloom. Here are some ways you can pay for college.
APPLY FOR SCHOLARSHIPS
There are thousands of scholarships out there, and chances are you qualify for more than one of them. Be sure to read application requirements vigilantly to ensure that you qualify before you spend time applying, and don’t limit yourself to only large scholarships. Small scholarships add up, and you will be grateful for any amount of money when it’s time to pay tuition. Finally, remember to keep in touch with the financial aid office. Scholarships can impact your total financial aid package, so you want to have a full picture of what you’re getting into.
GET THOSE GRANTS
Grants are loans that you don’t have to pay back (usually), which is a pretty sweet deal. There are several types of grants you can apply for, but be aware that you must complete the Free Application for Federal Student Aid (FAFSA) form on an annual basis. Discover which grants apply to you.
FEDERAL PELL GRANT PROGRAM
The Federal Pell Grants are awarded to undergrad students, or in some cases postbaccalaureate students who are pursuing a teacher certification program. The amount awarded depends on several things, such as financial need, cost of attendance, full-time status, and your plans to attend school for a full academic year or less. As of July 1, 2017, the maximum award amount is $5,920.