How To Pay for College: 7 of the Best Money Saving Tip

Suppose you’re a student about to enter college (or a parent of a soon-to-be college student). In that case, you already know that post-secondary education is pricey and have likely asked yourself this question many times.

A study by Education Data found that the average cost of college in the United States in 2021 was $35,720 per student per year. That’s a lot of money!

Each of these tips/methods alone is a powerful way for you to handle some of your college costs. When implemented together, though, you’ll likely find that paying for college is easier than you expected! 

Grants From the Government

Many states offer grants (that you don’t need to pay back) that you can take advantage of today. These grants can go a long way towards helping you with your college costs. If you DON’T complete an application for a grant, you’re likely to leave behind thousands of dollars on the table.

The first step to applying for a grant is filling out a FAFSA form. As soon as you do this, various state and institutional scholarships and the federal Pell Grant (a type of financial aid from the government that you don’t need to repay) will become available to you.

Financial aid differs from a scholarship in that a scholarship is typically merit-based. This means that you need to “earn” your scholarship by being excellent in your academics, extracurriculars, or some combination of the two. With need-based financial aid, you don’t need to worry about this. 

Financial Aid From the School

Before accepting any offer to a college, always check with their financial office whether or not you’re eligible for financial aid. Be sure to research the terms in detail and take advantage of “free” money!

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