There’s no question about it, college is expensive. Depending on where you go to school, you could be looking at over $130,000 in student loan debt when you graduate, and that’s just for your tuition fees. When you factor in the cost of living on top of that, it’s no wonder that some people spend their entire careers paying off their student debt.
It doesn’t have to be that way though! With a little research and creative thinking, there are a few things that you can do to lower your student finance bills.
Over the past few years, crowdfunding has become an increasingly popular way to raise money to pay for college. The only downside with crowdfunding is that it isn’t guaranteed. You need to give your potential donors a compelling reason why they should fund you, and this is where a lot of people get unstuck.
When you are creating your crowdfunding campaign, the key is to create a personal connection with your audience. If they feel a rapport with you, they are much more likely to help you. Be sure to include a video on your crowdfunding page so that your donors can see who you are and give a little backstory. Explain what course you want to study and why you want to study it. You should also talk about what other methods you have employed to try and raise the money, such as a part-time job or business venture. People will be more inclined to help you if they think you are putting in the maximum effort to help yourself.
If you are passionate about sports, then a sports scholarship can be a perfect way to fund some of your studies as it not only helps with your tuition, it gives you a great head start on a career as a professional athlete.
Competition for scholarships is tough, so it’s worth getting a little help if you can. In 2019 ASM Scholarships secured 799 scholarships across America, saving their clients on average $37,000 per year!
Field Specific Grants
If you are looking to work in a specific field after you graduate, it’s worth checking out any bodies or organizations in that area as they may offer grants and scholarships to help aspiring new members of the profession.
For example, if you wanted to be a social worker there are various grants and funds available for students showing academic excellence, facing financial hardship or who can demonstrate an interest in working with a particular underrepresented demographic.
Financial aid is available in a variety of different forms. You may be able to qualify for a grant or scholarship if you show academic promise or are studying in an area that is of interest to the awarding body. Additionally, there is aid available for military families, and there is a work-study scheme which allows you to pay for your education by working part-time. It’s definitely worth taking the time to investigate the options that are available to you.
If you are already in employment and hoping to continue your education, it is possible that your employer might fund your study. If you can make a business case to them as to why your studying is in their interest, you’ll be surprised at the help some employers will offer.