Alternatives to Federal Student Loans
The price of college can be overwhelming for the young adult or middle aged adult. In many instances it is the cost of tuition that deters people from pursuing their college education. With the interest rates on Federal Student Loans increasing, most potential students will shy away from a college education rather than being deeply in debt in their 30’s and 40’s. Is there an answer to this? You bet.
Funding Your College Education
Sit back and take a deep breath as there are hundreds of alternatives for financing your college education regardless of how much money you make. In some instances, with employer tuition reimbursement or payment, in addition to other resources, you may even have additional funds for living expenses. Let’s take a look.
Employer Tuition Reimbursement
If you are not aware of tuition reimbursement being part of your employee benefits package do not stop there. Make an appointment with your Human Resources Department representative and approach the topic. Go in with a plan that demonstrates your need and desire to further your education and ask if there are any funds available to assist you. Be confident and professional. What is the worst that could possibly happen?
College Payment Plans
Colleges and universities are well aware of the need for financial assistance leading to many of the schools developing their own payments plans to assist in making it easier for the students to be able to afford a college education. Although this type of payment plan may or may not be advertised in the school’s publications, it is to your benefit to meet with the Financial Aid representative for the school that you choose to attend.
In addition to the potential for a payment plan, the school may also offer a Work-Study program for certain students that will assist in the cost of tuition. The Financial Aid Counselor will be able to recommend additional programs that may include grants and other financial means.
Grants, Free Money
Another alternative for college tuition assistance are grants or what is also referred to as “Free Money.” Below are the addresses to websites that offer numerous grants available for all.
- The College Grant Database
- Pell Grants
- Minority Grant College Programs
- College Grants: Types and How to Apply for them
The most important takeaway here is the fact that no one should be unable to attend college because of financial difficulty or forecasted debt due to outrageous interest on Federal Loans. A college education should be a choice for anyone regardless of race, socioeconomical status, or any other reason. Dream it, obtain it and be successful!
RN MSN/Ed HCE graduated in 1995 from the University of New York, Albany and later went on to obtain her BSN and MSN with a certification in Health Care Education from the University of Phoenix, Online. Ms. Miller currently works as a Manager of Intensive Care in a University Hospital. She is also a published author and content expert for several educational publishing companies.
Degree Jungle Staff