5 Ways to Pay for School
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3. Apply for Financial Aid
Next you will want to find out what you are eligible for as far as a combination of grants, loans and work-study funds. This means applying for financial aid via Free Application of Federal Student Aid (FAFSA) (https://fafsa.ed.gov/).
To make the application process as easy as possible, you’ll want to gather various documents and have certain pieces of information handy, including the following:
• Your social security number
• Your driver’s license number
• Federal tax information
• Records of untaxed income
• Information on your assets including cash and investments
4. Apply for Scholarships
There are many opportunities for outside scholarships funded by companies or private foundations that many potential students aren’t even aware of. Some are location- or industry-specific. For example, Hot Sauce Depot’s $500 scholarship (http://www.hotsaucedepot.com/scholars-program.aspx) is only for students enrolled in Texas-based schools. All types of companies offer these scholarships ranging from $500 to $20,000. While it takes some time and effort to search for the various scholarship opportunities you qualify for, these funds can go directly toward tuition, books or housing and greatly reduce the cost of your education.
5. Work Your Way Through School
Finally, you can supplement other forms of income by working while you’re in school. There are often work-study jobs available on campus or you can get a separate part-time job that you choose based on your availability, interests and skills. This is not only a great way to pay your bills and minimize the cost of going back to school, but it’s also a great resume booster as you can build some of the skills and experience necessary to land the career you’re interested in pursuing after you graduate.
If you’re ready to go back to school or enroll in school for the first time, it’s important to h
ave a financial plan in place so you can get the most of out of your education with the least financial stress. By minimizing expenses and maximizing your financial resources, you can create a plan that works best with your situation and goals.
Ashley Feinstein Gerstley is a money coach demystifying the world of money and personal finance. Get her exclusive how-to guide “30 Days to Financial Bliss” (http://unbouncepages.com/30-days-to-financial-bliss-military-transition/), free for Military Transition News readers.