Finance Roll

The prospect of attending college is an exciting one that many undergraduates look forward to. However, if you are worried that you cannot afford an education then you are certainly not alone as many have similar thoughts. Fortunately, there are several financing options that you can leverage to pay for your tuition.

Take advantage of grants and scholarships

If you have received top marks from your school then you may be able to qualify for scholarships which can be used towards your tuition fees. Many universities also offer grants that students can use for college related expenses. In a sense this is essentially free money that can drastically reduce your overall costs and help put you through college.

Pull out federal student loans

Another alternative is to apply for a student loan such as a Federal Perkins Loan. These are specifically designed for undergraduates and offer financial flexibility for those students with financial burdens. To see what you qualify for you will need to submit a Free Application for Federal Student Aid (FAFSA) and they will contact you on what your options are.

Other financing options

If the above choices are still not sufficient to cover tuition costs then are there are still other options available. You can contact banks which specialize in loans for college but keep in mind that private lenders tend to be stricter in the selection process. So what you can do is leverage the credit of one of your parents by having them co-sign a loan for you.

If you do not mind rolling up your sleeves then work study programs are available which allow you to earn money through part time employment. The amount you get paid will depend on what you are awarded and how many hours you work. Before you completely rule out a certain college as too expensive be sure to consider these financing options.