How to Pay for College (On Any Budget)
Getting a college education can unlock countless career opportunities, but its price tag — for tuition, textbooks, living expenses, and more — can feel overwhelming for too many students. But with some research and planning, financing your college degree can be more manageable than you might think. Here are some strategies for paying for college on any budget.
Top Ways to Pay for College
Prioritize In-State and Community Colleges
In-state and community colleges often have much lower tuition costs compared to out-of-state and private institutions. Consider starting your college journey at a community college to save money on general education courses before transferring to a four-year university.
Look for Tuition Assistance Programs
Some states and colleges offer tuition assistance programs to support students from low-income backgrounds. These programs may cover a portion of tuition costs. Find out if your state and prospective school offer such initiatives.
Seek Out Scholarships and Grants
You may qualify for grants, which don’t have to be repaid (the federal Pell Grant is the most common). In addition, many schools and third-party organizations offer scholarships to students based on various forms of merit. Research and apply for as many scholarships as possible.
Apply for Federal Financial Aid
When grants and scholarships fall short, federal and private loans can bridge the gap. Federal loans typically have more favorable terms than private ones, making them a safer choice. However, only borrow what you absolutely need, and keep track of the total amount you'll owe after graduation.
To apply for federal financial aid, complete and file the Free Application for Federal Student Aid (FAFSA). Filing a FAFSA is how students become eligible for federal grants, work-study programs, and low-interest federal loans. Be sure to submit the FAFSA as early as possible, as some aid programs have limited funds and are distributed on a first-come, first-served basis.
Consider Work-Study Programs
Work-study programs provide part-time employment opportunities on or off campus for eligible students. These programs can help cover college expenses and provide valuable work experience. Check with your college's financial aid office to see if you qualify for a work-study program and explore available job opportunities.
Practice Smart Budgeting
While you’re in college, cut unnecessary expenses, such as eating out frequently or spending excessively on entertainment. Instead, opt for budget-friendly alternatives, like preparing meals at home and exploring free or low-cost recreational activities.
Pay for College the Smart Way With On Point for College
On Point for College helps traditional and non-traditional students in the Central New York region overcome the barriers to higher education. We support our students from application through graduation and beyond, empowering them to fulfill their dreams and achieve their potential, which ultimately benefits both individuals and our community.
On Point for College can help any student with any higher education goal — be it a two- or four-year college degree program, a graduate or professional degree program, a certificate, or another type of professional training. Join us to get help with applying for financial aid and learn about other strategies for financing your education.
Ready to become a part of On Point for College? Fill out our new student interest form here.