2 answers

What are other avenues you can take to pay for college accept applying for scholarships and FASFA?

Asked Aquasco, Maryland

2 answers

Yvonne’s Answer

Hi Ashley!

In addition to applying for scholarships, loans, and grants through the FAFSA, you can open savings plans that allow you to save for your tuition. Two options that are available are a section 529 savings plan and the Coverdell ESA. Both of these savings vehicles allow you to contribute funding on an after tax basis, however you are able to withdraw from these accounts tax free as long as you use the funding to pay for education. This means that your money grows in the account, and you are not taxed on that growth!

Good luck!

Sheila’s Answer

Updated Atlanta, Georgia

Hello Ashley: Here are a few things you could do to pay for college.

1) Take out a loan

2) Work-study program. Or, get a job in general. Most employers have a tuition reimbursement program. Some programs may include reimbursement for "part-time employees" so be sure to ask

3) Ask the college for more financial aid

4) Grants

5) Apply for private scholarships

6) Live at home or attend a Community College

Check out this CNN Money link: https://money.cnn.com/2017/04/25/pf/college/pay-for-college/index.html

Good Luck to You!

Ask a question