6 Tips For Finding Last Minute Cash for College

6 Tips For Finding Last Minute Cash for College

Do you have students attending college this fall and it looks like you’ll be short on cash to cover books and tuition? Don’t worry, I have a few tips to help you.

You may know, college expenses can really add up. If you find yourself in this situation, consider these 6 tips for finding last minute cash for college.

#1: Special circumstance application.

Life is complicated. Sometimes family or personal circumstances can impact your student’s academic credentials. You can relate information about family or personal circumstances in most institutions’ Common Application. You may want to seek the advice of your student’s dean or advisor regarding special circumstances.
#2: Get tax credits.

The American Opportunity tax credit and Lifetime Learning tax credit can help ease the burden for parents. The American opportunity tax credit (AOTC) is a credit for qualified education expenses paid for an eligible student for the first four years of higher education.You can get a maximum annual credit of $2,500 per eligible student.

#3: Low-Interest Student Loans.

Student loans are another option, but I suggest you shop around for the best deals. Only take what you need and nothing more. Also watch out for “deferment” of college fees. This means your student can go to school without paying month to month. Yet, when they’re done, they will have a mountain of debt to pay back.

#4: Cancellations.

Have you heard of scholarship cancellations? Sometimes other students change their minds and may not attend the university they are enrolled in. This may open up scholarship money for that school at the last minute. It pays to check if there have been cancellations at your student’s school.

#5 Pay Over Time.

Ask for a payment plan. Some schools will allow you to make monthly payments on your tuition. It never hurts to ask. If you can make the payments monthly, instead of deferring them until they graduate, you can help you student avoid the burden of many thousands of dollars of debt.

#6 Have Your Student Work Part-Time.

By having your student work at a job part-time, they will earn cash for college expenses. Working part-time will also give your student life experience and much needed cash to live on campus.

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