How To Fund Your Education Without Going Into Debt

How To Fund Your Education Without Going Into Debt

There are a number of reasons a person may decide to continue their education after entering the work world. Perhaps it’s the path to a promotion, or maybe they need to switch gears. Whatever the reason, you still have bills to pay so you certainly don’t want to go into debt. After all, everyone knows someone still paying off student loans later in life.

Continuing your education doesn’t mean you have to go into debt. There are always options, and only you can know which option fits best with your goals and needs. Here are some ideas that might fit your situation.

Choosing to Learn Online

If your work life and family life are demanding, you may wonder how you’re going to fit in time for school. That’s why many universities offer degrees that can be earned completely online. It’s a win-win situation for you and the university. They don’t have the overhead, and you don’t have to spend extra time commuting.

Because the university saves on overhead, you save on tuition. Pursuing a cheap online education has many advantages, and it could be the right choice for you. As you find universities that offer what your degree choice, be sure to always check their accreditation status and reviews.

Funding Through Grants

A grant is funding used to cover your tuition and sometimes other expenses that doesn’t have to be repaid. You do have to meet a set of criteria. Grants are usually given based on financial need. Your university financial aid office should keep a list of grants that have been awarded by the university in the past.

Grants are often awarded through government agencies, including federal, state, and tribal. One type of grant offered by the federal government is the Pell Grant. However, the Pell Grant cannot be awarded for any degrees pursued beyond the bachelor’s.

Funding Through Scholarships

Scholarships are different than grants in that they aren’t based on financial need. Scholarships can be based on academic performance, an area of study, or any other criteria set by the scholarship provider. Like grants, your university will be aware of some scholarships, but there are many more out there waiting to be found.

Attending Part-Time

Grants and scholarships can take a lot of work finding and then applying. If you don’t have luck finding extra funding for education, you could opt to attend part-time. You could even enroll in one class a semester if that’s what you can afford.

Be sure you know the requirements of the degree before you’re accepted. Some schools may have a set amount of time for acquiring the degree once you start. If you don’t think you can complete the degree in that set time, talk to an advisor in that department. Perhaps there’s something they can do to help.

There are many things you can do to help pay for your college education. It has been said that anyone in the United States who has a desire to attend college can always find a way to do so, and the same holds true for you. The worse thing you can do is to never pursue your dreams by declaring it can’t be done.