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Thursday, 20 April 2017

9 Great Substitutes To Student Loans

Are you being swamped up with school/college loans? Are you looking for legal and authentic methods to easing your stress? Are you starting college and you don't want to consider taking out student loan? We have some alternatives for you.

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1) Applying For Work Study

Most universities offer a healthy work study program. Most of the work is offered at the school itself and is university related. If you can envision yourself picking up some hours at the library or in the parking attendance office, this route is for you. This job is recommended after depleting all aid options and if you have a flexible schedule. The program usually pays more than minimum wage, and if you choose your job according to your career you can rack up invaluable work experience!

9 Great Substitutes To Student Loans

2) Grants

Grants gets the number 2 spot, just because they apply to everyone. Most people with a minimum GPA and a clean record qualify, and federal funding can be thanked for that. A high school or community college counselor can help see which ones to apply for and best options.

3) Get a Part Time Job

This is close to work study, but gets a higher ranking for the flexibility. Sometimes work study can be restricting in scope of job, and I truly believe in making your time work for you. With that, I recommend choosing a part time job that will assist you in your future career or help in making a decision for career choice. Obviously, the money has some benefit as well.


4) Live at Home

Walking out of college with no loans is not impossible.  This option is not recommended for everyone, because it is definitely not the same college experience, and not available for everyone. If you have dreams of moving away or your dream school is across the country, then take out the loans, butt, if you have a comfortable home close to university – this can save you so much money- up to tens of thousands of dollars.

5) Shop Your Acceptance

Make sure you are getting the best deal. Position universities against each other, and see who can offer the best up front. This depends on how well you did in high school – including GPA, sports involvement, community service – and many other factors, but if you have the resources available – have the colleges fight for you!

6) Do Your Taxes

Did you know college was tax deductible? This can help you or your parents when filing taxes. The American Opportunity Tax Credit and The Lifetime Learning Credit are two great options that will give you great rewards.

7) Community College

Not all of us are advocating 4.5 GPAs and volleyball championships. Colleges are becoming increasingly more challenging to get into, and many people don’t qualify for their dream college directly out of high school. Using a junior college is one of the best options out there. Not only is it affordable, it can help you get into the school of your dreams without nearly impossible high school performance. It can also help you prepare prepare for college without diving headfirst.

8) Financial Aid

Financial aid is a savior. Depending on your home income, you can qualify for thousands of dollars in discounts. Make sure to fill out your Free Application for  Federal student Aid (FAFSA) early, because aid runs out quickly. This is not applicable to everyone – but try working part time for at least a year and you can qualify as an independent. Getting off your parents income will free you and allow you the maximum financial aid.

9) Scholarships

Scholarships are the best way to pay for college. They are based on merit, but most times they offer the heftiest amount. Scholarships are available at the local, state, and national level and offered for almost any reason under the sun. Study hard in high school or junior college to reap the benefits of scholarships fully, and diversify yourself with extracurricular activities.

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