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Is there any other choice other than loans?

Throughout the college process, I faced several struggles and at this point in the process, I have been accepted to every college that I applied to but find that I don't know what university I will be attending in the Fall. I have this dilemma not because I have too many options, but because I don't have enough. Each of my colleges has offered me less than substantial financial aid and as a result, I've found that I am scrambling for any money that I can receive and at this point it seems that my only option is to take out loans but I do not want to have to resort to this and I would like to know if there are any other choices that would help me out. #financial-planning #college #college-advice #loans

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Simeon’s Answer

Some of your options are to do part of your degree in community college or get a part-time job to help you pay for it as well. Part-time work could also include doing work-study jobs on campus or include doing summer work like a summer camp. Also, if you have the ability to do so, you can save money by taking more classes and trying to finish your degree quicker.
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Ariel’s Answer

Patrice, I hear you girl!


I think that it's important you understand why you're going to college and the function it will serve in your life/career 5 years from now. Think about your destination (where you see yourself) and then think about the path you have to take to get there (there are a million options).


In my opinion, student loans are not worth the debt unless you have a solid plan for paying them off well before you have to. Or at least start paying them off before you graduate. You'll be so happy with this choice in the long run.


Not to advise a detour but one of the lessons I've learned post-college is that if I can't afford something then I am not in a position to have it or I'll need to put myself in a position to get it. If you really want to go to college, then you can first try seeing if your school offers any type of funding for students with your background or area of study. You can also see if your high school has any resources available around funding for school. Or maybe you can save up before heading to the school of your dreams because once you graduate, life gets real.


I'd recommend starting an online store of some sorts or asking local businesses if they have scholarship programs. The key step here is to start NOW in saving up, making money, and getting ahead if you truly desire to go to college and be debt-free during and/or afterwards.


Hope that helps!

Ariel
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Sherry’s Answer

Hello Patrice,

I understand your reluctance to taking out student loans, but they are not the end of the world. You don't have to start paying (most of them) back until you graduate and have a stable job.

There are other options as well. You may be able to find a grant or apply for a scholarship which don't have to be repaid. Some schools may offer a "work/study" program where you work on campus and your earnings go toward your tuition.

Sherry recommends the following next steps:

Search for "College Grants" or "College Grants for Women"
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Andrea’s Answer

Hi, Patrice. I can definitely understand not wanting student loans, and why you want to go to a University. Personally I did not want to get into debt with student loans. so I went to Community College first got out all the necessary studies then transferred my credits to a University. I also had a part-time job that helped. This saves you thousand and thousands of dollars compared to a 4yr degree at a University. I did attend at an in-state school due to tuition cost its much less than an out-of-state College.

I would also recommend looking out for possible scholarships that can apply to you based on where you want to go and do.
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Paul’s Answer

I completely understand your reluctance to take out student loans. They can be quite burdensome when it comes time to start the payments. If you are thinking about alternatives your options may be limited if you do not qualify as low-income because free money from colleges in terms of grants and scholarships have become scarce over the years. In addition, free money is provided on a "needs" basis so usually only those students whose family income falls below a certain level qualify.


That being said you have to put in the work to find free money that is not "needs" based. Start at credible websites like scholarships.com to search for scholarships offered nationally and then check locally for scholarships that may be offered at organizations like your church or Boys and Girls club. Your guidance counselor may be able to help. You should also consider working part-time while in school to help with the costs and also working full-time during summers.


Last, you'll save money if you attend colleges in your own state and don't ignore community colleges either.

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