College can be dreadfully expensive, and nobody knows that more than the person who is paying his/her tuition out of pocket. For most people, it is easiest to break tuition down into affordable payments.
Instructions
1. Make an appointment with the financial aid office before the semester begins to discuss your options. Several colleges offer installment plans for students. However, some of these installment plans require a large lump payment up front with the remaining balance to be divided and paid throughout the semester. If this is not a viable option for you, there are other methods.
2. Find out about tuition installment plans that allow you to break the initial lump sum payment into manageable amounts. These plans can either be offered through the college or via private tuition management companies. Unlike loans, there is no interest rate but rather a small service fee. Like loans, you are usually required to have a good credit history to qualify for the program.
3. Apply for a small personal loan to cover a semester's worth of tuition. Interest rates will vary depending upon your personal credit history. Make on-time payments each month until the balance is paid in full. Not only will this pay for your tuition, but also build up your personal credit.
4. Apply for federal student financial aid. Most people go this route right off the bat. These need-based programs make you eligible for student loans where payments are deferred until graduation. Some people find themselves eligible for federal grants, which do not require repayment. Talk to your financial aid office about filling out the necessary paperwork for this program.
5. Find out about student work programs at your college. Through this program, students work at on-campus locations and earn money for their tuition payments.
Tags: installment plans, credit history, financial office, Find about, lump payment, personal credit