Since our parents went to college in the 1980s, the cost of a college education has grown by more than 200 percent.
As a result, up to three-quarters of college applicants are stressed about the prospect of paying for college tuition.
But, your financial circumstances shouldn’t determine your ability to go to a good college. Luckily, there are a bunch of creative ways to pay for college which you may not already know.
Do you want to learn more? Read below!
1. Employer Reimbursement Programs
A growing number of employers are providing people with employer reimbursement programs.
This allows young people to go to college without paying for it. Or at least, paying a smaller percentage of the usual rate.
Unfortunately, only 4 percent of employers in the US currently provide such college assistance. However, it makes sense to apply for graduate jobs at these companies to improve your chances of getting your college tuition paid for you.
There are also opportunities for students working part-time at some companies to receive contributions from the employer while they study.
You can probably expect to receive money from family and friends throughout your life for birthday and holidays.
However, you can also encourage your friends and family to sponsor you to study for your college degree. This is much better than wasting the money on snacks and nights out.
If you build a successful crowdfunding profile, you may be able to convince strangers on the internet to contribute to your fund for college.
3. Personal Loans
You may have some savings for your college tuition. However, if you need to bridge the gap, then you could also apply for a personal loan to pay for your degree.
You can even receive the loan for your first college payments before making the rest of the money while you’re at college.
Remember to pay back your personal loans, since you could find yourself in financial trouble if you can’t pay it back. Learn more about personal loans on this page.
4. Grants and Scholarships
Fortunately, there are grants and scholarships available for students as well. You don’t even have to pay these back. They’re gifts!
More than 20 percent of students receive grants from either the college or a funding organization.
You need to do your homework to discover which scholarships and grants you are eligible. If you’re from a low-income household, you may be able to receive a grant to cover nearly all of your college fees.
5. Start Investing
Nearly three-quarters of millennials say that they’re scared of the stock market.
Many young people think that saving your money in cash is much better than investing in stocks and shares. And yet, financial experts tell us, that they’re absolutely wrong!
You can get rich quickly by growing your knowledge and understanding of the stock market. Get an app on your smartphone so that you can experiment with investing now.
You can also dip your toes in the cryptocurrency world. If you invested $1,000 in Bitcoin back in 2011, you’d have up to $4,000,000 now.
6. Living Off-Campus
Many college students arrive on campus surprised about the cost of living. This is especially the case in big city campuses such as New York.
However, you can make significant savings by living off campus. Many colleges charge a premium for the opportunity to live a stone’s throw from your classes.
But, you can become a grown-up faster if you choose a modest home away from the main hub of the college. You could go one further and apply for housesitting opportunities.
You’ve got to be prepared to take care of someone’s dog or cat though. That’s the case in up to 80 percent of housesitting arrangements.
7. Sign up to the Military
Do you want to serve your country? You could consider signing up for the military, who will also pay for your college degree.
You can either serve before you register at your college or afterward. You can receive all of your tuition fees at a public university if you serve before you attend college.
But, you can also apply for the ROTC program with the intention to serve once you’ve graduated. This is a big commitment which shouldn’t be taken lightly by anyone.
8. Get a Side Hustle
Around one in four Americans has a side-hustle.
While they are not always lucrative, it’s possible to put a hole in your student fees with one. And yet, over 20 percent of millennials with side-hustles earn more than $500 per month.
You can become a freelancer. Can you teach a language which is in high demand? Can you publish your own blog posts for money?
Maybe you’re the creative type. There are plenty of opportunities to create things and sell them on Etsy.
You could also become a babysitter or dog walker, depends which you prefer. This can be a great chance to get a bit of side cash.
If you have any skill which you can monetize, from computer repair to costume design, you can make a few bucks on the side.
You can also rent out your bedroom on Airbnb and stay over at a friend’s place over the weekend to make extra cash.
Creative Ways to Pay for College
Now you know that you don’t just have to give up on your dream of going to college and graduating. There are numerous creative ways to pay for college without going into a mountain of debt either.
Do you want more tips on how to be successful at your college degree? Check out this blog post.