Coming up with the funds to pay for your child’s college tuition is a challenge. While they may qualify for grants and scholarships, such as the award offered by Hallie Gay Walden Bagley, you may still have to finance a considerable amount of the tuition. In addition, your teen may have to find affordable housing, while needing money for textbooks, meals, and various supplies. That economic challenge doesn’t have to be overwhelming, however. These tips can help you chop away at the high cost of a college education.
Look into Less Expensive Alternatives
If your child achieves excellent grades, shows promise in the arts, or is an exceptional athlete, it may pay to set your sights a little lower. While it might be nice to send your child to one of the top schools in the country, schools that primarily get “B students” may offer merit-based tuition incentives to students with better performance records.
Look for Zero Tuition Schools
In each state, there are some colleges that offer educations without charging students tuition. In some cases, this may obligate the student to work off their education, or to go to work for one of the college’s benefactors upon graduation, so be sure you fully understand the terms in advance. Even if your child only gets an associate’s degree free of charge, this will be a great head start to set them on their career path.
Search for Scholarships
In recent years, business leaders and nonprofit organizations have taken a greater interest in philanthropy. This has led to a greater number of scholarships in communities all across the country, as well as national scholarship programs. Some, like the Hallie Gay Walden Bagley scholarship, focus on helping just one student per semester, while other programs award multiple students in a semester. You can find scholarship programs with an online search, but also keep an eye on community bulletin boards and local businesses.
Find Off Campus Housing
Living on campus boosts tuition and living expenses significantly. In addition to paying a great deal more for a shared dorm room than you would pay for a one bedroom apartment, living on campus often involves paying for meals provided by the school. Your college-attending child can save quite a bit by living off campus and buying their own groceries, instant coffee, and other supplies. The money they save can help them prepare for the following semester.
Try Crowdfunding
You can also finance a college education through fundraising, especially if you or your child is tech savvy. You can make use of crowdfunding sites to introduce yourself, explain your educational goals, and ask for help. Each site will take a small percentage of the donations you receive as their fee, so be sure to read each site’s terms and compare them to one another. Depending on your digital marketing skills and social media reach, you may be able to pay off a percentage of the tuition through crowdfunding.
These are just a few suggestions that can help you offset the cost of your child’s college tuition. You may find more opportunities in your own community that will help you give your child the education that will help them pursue enriching careers. Making use of several different opportunities can help you have a bigger impact on your out of pocket expenses, so your child’s college education won’t break the bank
