How to Pay for College

You may wonder, how much does college cost? As you learn the answer (a lot), your next thought is likely this: how to pay for college? Despite the high cost of a higher education, a number of options exist.

How to Pay for College: Grants

Federal, state, and private grants are forms of financial aid that, for qualified students, do not need to be repaid, making them one of the best ways to pay for college. How to get grants for college? You’ll need to meet specific eligibility requirements and apply. Start by visiting studentaid.ed.gov where you can learn more about federal grants and how to apply.

How to Get a Scholarship to College

Depending on the industry you’re studying for, related scholarships may be available to help you pay for college in exchange for future service. For example, the nursing industry offers scholarships to combat future shortages of qualified nurses.

How to Get Money for College: Loans

Public and private student loans, when carefully selected, can help qualified students solve the how-to-pay-for-college dilemma. Loans, of course, need to be repaid, so it pays to do your research to find the best rates and terms. The federal government offers fixed rate and low interest loans to eligible students while private financial institutions offer numerous student loan options.

How to Pay for College: Get Credit for Experience

One of the lesser known ways to pay for college involves taking an exam and earning college credit for your life experiences. The College Level Exam Program (CLEP) can shrink your college bill by certifying your existing knowledge and rewarding you with college credits.

Whether used alone or in combination, grants, scholarships, loans, and CLEP credit can help make college more affordable.

* Financial aid is available to those who qualify. Program length varies by each institution’s specific curriculum and employment opportunities are not guaranteed.

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Sources:
http://studentaid.ed.gov/PORTALSWebApp/students/english/grants.jsp
http://studentaid.ed.gov/PORTALSWebApp/students/english/funding.jsp
http://www.hrsa.gov/loanscholarships/scholarships/nursing/
http://clep.collegeboard.org/started