Another semester is upon us. My youngest will be a sophomore in college so I’m in the same shoes you are. Our financial awards have been calculated, the scholarships have been applied and now there is a balance that remains. How do we pay the rest?
I wish I knew the amount of people who are having this conversation in their kitchens and living rooms. Families all over the country are in the same situation. These students and families all look different. Many are students trying to figure out how to approach mom / dad. Others don’t have the option of going to mom or dad. Some are single parents, others are adult learners. No matter how you slice it, very few educational institutions care about how you’ll find the funds.
In this post, I’ll highlight some options for you. However, in complete transparency, I believe scholarships are the absolute best option and should be prioritized each semester. (More on that later.)
Here are some options that might be helpful. I am not affiliated with any of these resources other Imagine Scholarships.
-
Tuition Fit – This. needs to be the first stop on your journey. Tuition fit is free and amazing. It will help you find out the bottom dollar your institution will accept.
-
Imagine Scholarships – My very favorite option. $175 a year with huge returns on your investment. Start using this now for help with next semesters tuition that will be due sooner than you think.
-
Student Loans through Earnest – They offer a lot of flexibility with repayment terms and are very friendly to work with.
-
Ascent Funding has options that don’t need a co-signer
-
Sallie Mae – This one is the largest loan option but that doesn’t always mean the best option.
-
Credible – Allows you to compare other loans.
One of the most popular blog posts I’ve written is called putting the pieces of the puzzle together. I outline many student loan options in this post as well as additional resources not listed above. It is a must read for students and parents looking for alternate ways of paying for their education.
Many of you may wonder why student loans aren’t my favorite? Here is a great short video explaining why I encourage scholarships over loans. However, as a parent, I completely understand that sometimes the loan is the only option when the tuition payment is due. Scholarships take time but they are FREE MONEY.
This video shows the importance of finding scholarship if at all possible. You can find quality scholarships at Imagine Scholarships. A small investment with opportunity for a huge ROI. (Return on Investment.)
Finding scholarship IS possible, we see people do it everyday. It takes time and a strategy. When using scholarships to pay for tuition, you need to be looking for scholarships for the next semester you’re planning to attend. Most scholarships are not going to be available to you immediately so plan ahead.
Reach out to us today. You are the reason we do what we do. We are here to help. Have you accessed the resource library of videos? There are lots of helpful tools there. We also helpful resources here.