Share

The cost of college is increasing rapidly, with the average price of a four-year public college rising more than 15 percent since 2008. Students that want to complete a college education must often take out hefty loans to pay for tuition, books, and associated expenses. Fortunately, there are various ways to get money for college when you need it. Here are some of the best places to get money for college.

Scholarships

More than a million scholarships are awarded each year based on a wide variety of factors, including athletic ability, academic merit, disability, race, nationality, religious affiliation, relation to a cancer victim, location, and many more. Nearly everyone should be able to find quite a few eligible scholarships to apply for using tools like FastWeb’s free scholarship search.

Federal Grants

Federal assistance grants are available to most students who have not already earned a bachelor’s degree. A Federal Pell Grant can be up to $5,550 for the award year, for up to 12 semesters of aid total. A Federal Supplement Educational Opportunity Grant range from $100 to $4,000 per year and are given on a first come, first served basis. The TEACH Grant provides up to $4,000 per year to students who sign an agreement to serve as a teacher in certain high-need fields or in low-income areas for at least four years.

Federal Loans

Many students choose federal loans to get money for college because many qualify for loan forgiveness after a decade of on time payments. The Federal Perkins Loan provides up to $5,500 per year for undergraduate students with a fixed interest rate of 5 percent. Direct federal loans allow independent graduate students to borrow up to $138,000 for their college education.

Federal Work-Study Program

The Federal Work-Study Program provides jobs to undergraduate and graduate students with financial need. This allows them to earn money to help pay for education-related expenses with employers that will be flexible and work around their class schedule as much as possible.

Employer Based Tuition Assistance

Many employers are now offering tuition assistance programs for their employees, their spouses, and their children to help offset the cost of a college education. Ask your employer if there are any programs offered and how to apply for them to get money for college. Every dollar you can secure without a loan is a dollar you will not have to repay with interest once you have graduated.

About the author


ModestMoney.com Top Finance Blogs

Archives

SSCP   CAS-002   9L0-066   350-050   642-999   220-801   74-678   642-732   400-051   ICGB   c2010-652   70-413   101-400   220-902   350-080   210-260   70-246   1Z0-144   3002   AWS-SYSOPS   70-347   PEGACPBA71V1   220-901   70-534   LX0-104   070-461   HP0-S42   1Z0-061   000-105   70-486   70-177   N10-006   500-260   640-692   70-980   CISM   VCP550   70-532   200-101   000-080   PR000041   2V0-621   70-411   352-001   70-480   70-461   ICBB   000-089   70-410   350-029   1Z0-060   2V0-620   210-065   70-463   70-483   CRISC   MB6-703   1z0-808   220-802   ITILFND   1Z0-804   LX0-103   MB2-704   210-060   101   200-310   640-911   200-120   EX300   300-209   1Z0-803   350-001   400-201   9L0-012   70-488   JN0-102   640-916   70-270   100-101   MB5-705   JK0-022   350-060   300-320   1z0-434   350-018   400-101   350-030   000-106   ADM-201   300-135   300-208   EX200   PMP   NSE4   1Z0-051   c2010-657   C_TFIN52_66   300-115   70-417   9A0-385   70-243   300-075   70-487   NS0-157   MB2-707   70-533   CAP   OG0-093   M70-101   300-070   102-400   JN0-360   SY0-401   000-017   300-206   CCA-500   70-412   2V0-621D   70-178   810-403   70-462   OG0-091   1V0-601   200-355   000-104   700-501   70-346   CISSP   300-101   1Y0-201   200-125  , 200-125  , 100-105  , 100-105  , 1Z0-803  , 400-051   EX300  , CISM   100-105  , 000-106   400-201   642-732   220-902   70-410  , MB6-703   810-403   70-243  , CAS-002  , AWS-SYSOPS   70-462   70-410   2V0-621   LX0-103   70-461  , 220-902   1Z0-144   70-178   70-270   350-080  , 1Y0-201   1z0-808  , NSE4   102-400  , ADM-201   SSCP  , 200-125  , 640-911   000-104   640-692   300-320   350-060   000-089  , 000-017   1z0-808   700-501   1Z0-051  , 70-177   M70-101   300-209   70-461   3002   N10-006   VCP550   70-487   300-320  , 3002   700-501   NS0-157  , 1V0-601   CAS-002