Ways to Pay for College Yourself
Paying for college yourself is no easy feat. In addition to the many financial assistance programs available, you might also look into other means of funding your education.
Your college or university may offer payment plans for students. You might be able to make your payments on a monthly or quarterly basis with a certain amount to be paid at each time. To find out if you’re eligible for one of these programs, visit your school’s admission or financial aid office.
Something else to consider is U-Promise. This is a rewards program which deposits funds in an account to be put towards your schooling every time certain purchases are made. All you have to do is register certain credit cards, or use a U-Promise credit card. Your family can also register their cards so a percentage of their purchases is put in your account. Certain companies, such as Proctor and Gamble, contribute towards your education when certain products are purchased with a U-Promise registered credit card. The money is held in an account until such time when it can be transferred to a 529 plan.
529 plans are another great way to help fund your education. With the prepaid tuition plan, you can lock in today’s college rates, even if you won’t be attending school for several years. This money is guaranteed by the state so poor investments don’t have to mean you miss out on a college education. Keep in mind, however; this only covers the cost of tuition. You’ll still have to pay for books, food, housing, transportation and other incidentals. You also must remain in state for the locked in rates to apply. If you move, you’ll still have access to the funds, just not the locked in rate. There are also time and age requirements which will need to be researched.
There’s also a second 529 plan, the college savings plan. This plan covers most reasonable education expenses no matter where you attend college. Because this money isn’t guaranteed, it’s a riskier investment.
You might try getting a good, old-fashioned job. You’ll find most employers are pretty flexible when it comes to education. You should be able to work around your schedule. Campus jobs are especially kind when it comes to scheduling work around your course load. If your situation is such that you need to work full time, consider taking night courses. You’d be surprised at how late classes are offered. Work study programs are also available for eligible students.
If you’re already employed, you might see if your company offers a tuition reimbursement program. These programs will reimburse a percentage, or even all of your tuition. You may have to sign a contract stating you’ll stay with your company for a certain period of time, but it may be worth it to fund your education. Your company may only pay for those courses which directly relate to your job. Check with human resources for the complete details.
As you can see, there are many ways to pay for college. The military also offers tuition programs and scholarships. Whatever method you choose, it’s good to know nothing can keep you from a good education. Not even money.
