Top 5 Ways To Pay For College

Have a child or family member who is heading off to college in the fall? Maybe you are thinking about finishing the college studies you started years ago?

Well as you can imagine, college is expensive. And it’s getting more expensive every year. So what’s a student to do if they don’t have the cash, but really wants to better themselves with a college education?

Here are the Top 5 ways I’ve found to pay for college:

#1 – Don’t disregard loans from the federal government.

The fact is, even if your family makes an upper-middle class income, it’s likely that you can still qualify for a student loan on the federal level. Try qualifying for a “Stafford” loan, and you may be surprised that you can qualify.

#2 – Create a 529 College Savings plan.

If you have some time before you are going to attend college, consider investing in a 529 savings plan.

This type of plan allows you to select from a variety of funds to invest in, including real estate and money market accounts. In most states, you or parents of a student can get tax deductions on all contributions made to your 529 savings plan.

#3 – Join the service and get Military Aid.

If you can’t qualify for the suggestions above, you can always join the Navy, Army, Air Force, Marines or Coast Guard. They all offer quality college education, that you don’t have to pay for. You’ll get an education, and get paid for your service while you’re enlisted at the same time.

#4 – Apply for financial aid if you haven’t already.

Even if you don’t think you’ll qualify, you may be surprised after you fill out the Free Application for Federal Student Aid (FAFSA) form. The deadline for the college year 2015-2016 isn’t until early 2016 for most states.

#5 – Seek out scholarships from businesses, community organizations and religious institutions.

Many people and businesses regularly “give back” to the community. In addition to supporting worthy causes, many entities make grants and scholarships available to students with good grades in their local areas.

So if you’re stuck with a way to pay for college, don’t give up. There is most likely a way!

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