While federal financial aid for college is often an option, sometimes the funding is not available due to budget cuts or individual circumstances. If you don't qualify for financial aid, investigate other options. Consider your financial background and situation to determine the alternative methods of funding.
Scholarships and Organizations
Research local companies or organizations to find out if they offer scholarships. Ask your parent or relatives whether their employers offer scholarships, then inquire at organizations such as the YMCA or the Kiwanis Clubs. Websites such as College Answer or College Board offer leads on scholarship opportunities, such as qualifications and apply. Also inquire at the college you are planning on attending to see if particular departments offer any type of scholarship that you may qualify for, or ask the financial aid office if they offer any scholarships based on your hobbies, religion or heritage.
Banks
Visit a bank to find out qualify for a personal loan to fund educational expenses. Most likely you will need a co-signer---an individual who guarantees to make the payments on the loan in the event that you can't or don't---for approval. The amount you can borrow may be less than what you need to fund your tuition, but sometimes you may borrow enough to cover tuition and living expenses. The amount of a loan that you can receive from a bank will depend on its lending policies and your co-signer.
Relatives or Friends
Consider setting up a website where friends and family can make donations to help pay for your college tuition expenses. Send a note in your graduation announcements or invitations that states the website address. Or ask friends and family members to donate unwanted things to you so you can organize a yard sale to make a few hundred dollars that can help defray college expenses.
You may also consider approaching a relative for a loan, complete with interest. Create a written contract with the details of the loan as well the amount and frequency of payments and interest, sign it and ask your relative to sign it, then notarize it. However, loans between family members may create problems if you are unable to repay the loan or stick to the agreed-upon terms.
Reap the Benefits
By enrolling in the ROTC (Reserve Officers Training Corps) or any of the branches of the military, often you'll get a portion---or even all---of your college tuition paid for. If you join a national and community service organization such as Americorps, you will receive a stipend that you can use for future or past college expenses. Another option is to start your education at a lower cost. Start out at a community college, which provide classes at lower fees than at a four-year college. First, find out the accreditation of the community college to determine if and where the credits you earn will transfer for a four-year degree.
Other Ideas
Ask the institution if it has a tuition payment plan. Some colleges may allow you to pay your tuition in two or three installments, which can give you time to gather the funds throughout the year. Or consider going to school part-time, taking as many classes as you can afford each semester and working part-time to earn and save money. Consider attending a college---such as Berea College in Berea, Kentucky, or The Cooper Union in New York City---that offers free tuition in exchange for working on campus.
Defraying College Expenses
Every little bit you save will help. For savings on college textbooks, purchase used not new books. Go to the college bookstore early for the best used book selection. Also look for discount texts on sites such as Amazon. Sell the books back after the semester ends to recoup some of the money. Be a dorm monitor or assistant to receive free housing, or find roommates to split the costs of rent off-campus. Buy your own groceries and go to eateries that offer student discounts or seek out a student discount card that offers reduced meals at local restaurants.
Tags: offer scholarships, college expenses, college tuition, community college, family members