Being accepted into university is a significant achievement, but one that unfortunately comes with years of expensive tuition, room and board and other fees. While some families are able to finance the costs of university on their own, many other students resort to loans, scholarships and alternative ways to finance their university fees. Here are some suggestions for unique or alternative ways to deal the expensive costs of college and university. Explore each to determine if it might be a viable option for your or a member of your family.
Loans: This is one of the most common ways to pay for the costs of university. Most students try to pay for what they can handle on their own, while taking out loans to cover the extra costs if necessary. Loans can be organized directly through the university, through many student loan organizations in your country, or through your local bank. Often it is possible for students over the age of 18 to take out a loan in their own name, but some loan organizations will require a parent or guardian to co-sign the loan amount in the event that the student is unable to pay back the full amount. Most loans will not need to be paid during the university years, and payment will begin after graduation.
Scholarships: Another way to pay the typical university fees is to apply for a range of scholarships. Scholarships can range from small amounts such as $100 or the full cost of tuition, room and board. In most states, there are hundreds if not thousands of potential scholarships for university students. Check with local organizations, sporting teams, businesses and more to find out which ones you are eligible for. Check with the university you plan to attend to find out if there are any sport of extra-curricular scholarships available. Many large schools offer scholarships to student athletes, for example.
Work-Study Programs: Many students hold down full or part time jobs while attending university in order to pay for some of the costs and tuition. Some colleges and universities offer work-study programs to students which focuses on this idea. In exchange for steep tuition discounts, students work for the university. Some jobs are available in places like the library, the offices, the cafeteria or in areas like maintenance. Working for the university has advantages, such as forgiving schedules to allow for exams, classes and school holidays.
Military Service: Many branches of the military offer tuition assistance and scholarships to those who plan to serve in the military upon graduation, or who become involved in the reserves during their study. This might mean students are required to attend physical training in the early morning before classes, or spend their summers attending boot camps or army, navy and marine seminars.
Although university can be expensive no matter where you choose to attend, there are several ways that you can reduce the overall costs. Along the the more typical loans and scholarships, be sure to investigate work-study programs and military service as possibilities.