National Scholarship: I Have to Pay for College

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I Have to Pay for College… Part One: Student Loans

If you’re like most high school graduates or are thinking of going back to college, the prospect of paying for it can be overwhelming if you don’t have a lot of money saved up. According to a 2015 survey of 5,000 Americans by Marketwatch.com, about 62% had only $1,000 in savings, and another 20% didn’t even have a savings account. Additionally, according to Collegedata.com the average cost of college tuition in the US today for the 2015-2016 school year is $9,410 for in-state residents attending a public college, $23,893 for out-of-state residents attending a public college , and is $32,405. for private colleges. These costs do not include textbooks or living expenses if you are not going to live at home or with family who can support you. Finally, there are supplemental expenses to consider such as computers, lab fees, tuition, etc. So, the big question is how does one pay for all this?

The answer is not simple; Paying for college usually involves several strategies. Assuming you don’t have anything saved for college, the most obvious solution would be to complete the FAFSA, or Free Application for Federal Student Aid, with the United States Department of Education on their website. By doing so, you will know whether and what types of student loans you can qualify for. This is usually the best option if you need to borrow money to help pay for college, as interest rates are generally lower and repayment periods are more flexible. However, you should only borrow money if all other options for paying for your education have been exhausted, as a large student loan can be burdensome upon graduation. If you wait to start making payments, interest will continue to accrue on your student loan, only adding to the total amount you owe and making it even more difficult to pay off your loan. Consider any type of loan in the same category as an emergency; Don’t borrow money unless you absolutely have to!

I Have to Pay for College… Part Two: Free Money

Have you ever heard the term, “nothing is free”? Well, “free money” for college such as scholarships and grants are essentially “free money” that covers some other form of cost. For example, Fund for Thought requires that you complete an application and write an essay in order to be considered for a scholarship. In this example the cost would be the application fee ($20) and the time it takes to complete the essay packet. The “cost” pales in comparison to the prospect of getting $2000 of “free money” toward college. Scholarships and grants are “free money” because you don’t have to pay them back, they are a reward for merit or achievement of some sort.

You should apply for as many scholarships and grants as you can get. The best places to look are online scholarship databases, a high school guidance counselor, or the financial aid office of the university you will be attending. These places usually have a comprehensive list of current scholarships available, and can help if you have questions about applying. In addition, local civic organizations, churches and businesses will sponsor scholarships available to students in their area. Check your local newspaper and community ads and you may find “free money” with little competition. The bottom line is that your chances of finding “free money” for college are higher if you put in the time to research scholarships and grants.

I Have to Pay for College… Part Three: Scholarship Search

We wanted to elaborate on scholarship search because there are so many resources out there, it can be a daunting task for the individual scholar. There are many different types of scholarships available, and they are classified by different characteristics. We thought it would be best to put together a list to help give you some ideas and direction as you begin your search.

1. Scholarships for High School Students
2. Undergraduate Scholarship
3. Masters Scholarship
4. National Scholarship
5. International Scholarships (Canadian Scholarships, Exchange Student Scholarships)
6. Free Scholarship
7. Online Scholarship
8. Full Ride Scholarship
9. Community Service Scholarship
10. Company Sponsored Scholarship (Pepsi Scholarship, Walmart Scholarship, McDonald’s Scholarship)
11. Race/Ethnic Origin Scholarship (Native American Scholarship, Hispanic Scholarship Fund)
12. Area of ​​Study Scholarship (Journalism Scholarship, Law School Scholarship)
13. Scholarship in areas of need (teaching scholarship, early intervention scholarship)
14. MERIT BASED SCHOLARSHIPS ON THE BASE OF ACADEMIC OR SPORTS ACHIEVEMENT

This list is by no means comprehensive, but aims to get you started. Getting free money for college is possible for everyone. By applying for as many scholarships as possible, you can increase your chances of getting an award.

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