Tips on Financing Your College Education

It's happening on many college campuses, not just yours. Tuition is increasing and the availability of student financial aid is dwindling. You're not just low on cash, you have no cash. Reality is that higher education is expensive. Don't be too quick to give up on your dream; there are ways to pay for college.

Of course there are the obvious options--grants and loans. Its usually the students stuck in the middle income bracket that suffer the most. Their parents make too much money to qualify them for a grant, but they don't have enough money to pay for tuition, books, room and board. Many times the only option is loans. Yes; your parents can refinance their home or borrow against their life insurance to pay for your education. But why not try easing the financial burden of college by trying some of the ideas below:

1. Get a Job -- Get a job?! I want to go to college. You can do both. Many companies and organizations around the U.S. offer tuition assistance programs. Some will pay full tuition and allow you to leave work during the day to attend classes. You can kill a number of birds with this one stone. You'll be making money, gaining valuable work experience, and pay little or nothing to go to college. You will need to do your research to find a company in your area. But the payoff is much greater than the headache of finding a company.

2. Graduate Faster -- Many colleges are now offering accelerated degree programs. This can include a wide variety of options. Some will give college credit for work experience. Others offer accelerated classes that cover the same amount of material as traditional courses.
Although the courses are often more intense, this option will allow you to earn your degree in less time and save you thousands of dollars.

3. Transfer credits -- The community college is a great asset for students who only want a 2-year degree or those who aren't quite ready to hit the university scene. But a community college can also be a great asset for someone who wants to earn a 4-year degree. Transferring credits from a community college will allow you to save a substantial amount of money.

4. Scholarship your way through -- There are millions of dollars in scholarship money available. Contact local organizations to inquire about their scholarship programs. Even if you're not offered a scholarship by your college, there are online portals offering scholarships based on need, academic merit, or even interests. Some companies or organizations even have drawings for scholarships. Why not put your name in the pot? Be creative. Be persistent. You're sure to find some free money to help you out.

5. Find a tuition-free school -- Never heard of one of these? Well, they do exist. The only problem is that they are few in number and you may have to make a commitment to work for a certain number hours of each week at a campus job. Many universities also offer tuition remission for full or part-time employees. In most cases, the university will pay for one or two courses a semester while you are employed. It will take you longer to graduate, but you could end up with a totally free education. These are two options every potential student should consider.

6. Find Forgiveness -- Loan forgiveness that is. There are many community organizations that will foot the bill in exchange for your time and talent. Some of the most popular options are AmeriCorps and Peace Corps. Programs like such are available for professionals from doctors to teachers. This option will allow you to give back to your community while helping you pay for your education.