How to Pay for College When You Don't Have Any Money
The Five Best Ways to Pay for the Cost of College

Do you know how much college costs? When you pay for college, the costs include the tuition, fees for labs, athletics and activities, and room and board on campus. You'll also pay for textbooks and supplies, computers, software and a printer, phone, transportation, personal expenses like laundry, clothes, and haircuts. Some of you will pay for sorority or fraternity fees or apartment rental if you live off-campus. Suddenly, your college costs seem astronomical. However, there are lots of ways to pay for college when you don't have any money. Four Types of Financial Aid To Pay for College

To Get Financial Aid Complete the FAFSA and CSS

4 Ways to Save on Tuition When You Pay for College

Scholarships Are Free Money To Pay for College

Five Federal Grants That Pay for College

Pay for College with Five Veterans Education Benefits

Pay for College with Federal Work-Study Programs

Pay for College with Four Federal Student Loan Programs

College Students

In the long run, a college education pays for itself. Not only does college open up better career opportunities and less chance of unemployment. There are also indirect benefits to college that continue throughout your life. Studies show that college has a positive influence on health, community participation and sense of satisfaction. A college education is a wise, but expensive, investment. Thankfully, more money and financial aid is available now to help you pay for college.

Four Types of Financial Aid To Pay for College

Four Ways to Pay for College

Seventy percent of all college students receive some financial aid. Financial aid comes from many sources to help you pay for college. Take advantage of all the types of financial aid available to you. More information on each type of aid follows later.

1. Grants are money to pay for college.
2. Scholarships give you money to pay for college. Scholarship money is yours clear and free, and never has to be repaid.
3. There are Work-Study Programs at each college, with good pay with part of your earnings paid for by the federal government. The money you earn on a work-study program is entirely yours, and is never repaid.
4. Student loans are money you borrow to pay for college. The student loan programs are government sponsored. You must repay the loan after graduation.

To Get Financial Aid Complete the FAFSA and CSS

FAFSA Free Application
for Federal Student Aid

The FAFSA is the Free Application for Federal Student Aid. If your college participates in the government financial aid program, you should complete the FAFSA. Some private colleges will ask that you complete the CSS, the College Scholarship Service profile. These forms ask for information about your family income and assets. All students should complete the FAFSA, even if you don't expect to use financial aid. File the FAFSA as soon as you get your tax information, as early as possible.

Then you'll receive the Student Aid Report, which uses the FAFSA information to determine what your family should expect to pay for your college, the EFC, Expected Family Contribution. If your family adjusted gross income is $15,000 or less, your financial aid package will cover 100% of your college cost.

You should apply to several colleges. The application deadline for new students is early at most colleges, sometimes as early as February 1. Most colleges accept students, no matter what their financial needs. Once your application is accepted, the colleges work to help you finance your education. They will use your Student Aid Report to put together a financial aid package of grants, loans and work-study. Compare what each school has to offer, and accept only the financial aid you need and want. Your college financial aid counselor will help you figure out how to pay for college. The counselor will take into consideration your special circumstances. Perhaps your family cannot contribute as much because of extended unemployment, family medical expenses or support paid to relatives.

4 Ways to Save on Tuition When You Pay for College

College Research

You can save on tuition if you shop for a college and choose wisely. The average cost for tuition and room and board is $32,000 at a private college. Some Ivy League schools charge more than $40,000 each year. At a public college the annual cost is over $13,000. Here are 4 ways to save on tuition when you pay for college.

1. Community college. Consider a local community college for your first two years of college studies. The tuition is substantially less at a community college and you can probably continue to live at home. You can usually transfer to your preferred college for your junior and senior years. This strategy relies on “articulation agreements,” also called transfer agreements, so that your credits for community college studies are accepted by your next college. This enables you to get a college degree without going broke in the process.
2. Attend an in-state college. Tuition at a public college in your state of residence is almost always less than at an out-of-state college or a private college. Any college is likely to make more financial aid available to in-state students, too. Some adjacent states may offer you in-state tuition rates under a reciprocity program with your home state.
3. You could consider an accredited online college as an inexpensive way to begin your studies, provided the online credits you earn will transfer to other colleges.
4. An accelerated program of studies will save money when you pay for college. With an accelerated program, you take summer classes and graduating in three years rather than four years.

Scholarships Are Free Money to Pay for College

Scholarship Research

Scholarships are free money to pay for college. Scholarship money never has to be repaid. There are a wide variety of scholarships offered. You don't have to be an A-student to get a scholarship. During all four years of college, continue searching for additional scholarships and apply for them. Surfer Sam has more about Free College Scholarships here. Surfer Sam also has more about Free Money for College

Five Federal Grants That Pay for College

Grants Pay for College

Grants are free money to pay for college. Take all the grant money you can get. It is free money, and it doesn't have to be repaid. Many grants can be renewed from one year to the next. Some grants require that you earn good grades. There are even more grants available, and you should ask your college financial counselor about them. There are also other state and institutional grants based on need or merit. Here are some of the other grants available to help pay for college:

• The most famous grant is the federal Pell Grant. It pays up to $4,31 for undergraduate students based on financial need
• Another grant, the FSEOG, Federal Supplemental Educational Opportunity Grant, pays up to $4,000 a year. This grant depends both on financial need and on what your college chooses to offer.
• Academic Competitiveness Grants
• SMART Grants, National Science & Mathematics Access to Retain Talent
• TEACH Grants, Teacher Education Assistance for College and Higher Education

Pay for College with Five Veterans Education Benefits

Veterans College Benefits

Veterans Education Benefits are also available for students with military service. Here are five programs to help pay for college for veterans:

1. The Montgomery GI Bill
2. Reserve Officer Training Corps scholarship
3. Post Vietnam Veterans Educational Assistance Program
4. Dependents Educational Assistance Program
5. Reservists Educational Assistance Program

Pay for College with Federal Work-Study Programs

Federal Work-Study Programs provide work opportunities on campus and in the community. Often the work assignments are related to your course of studies, and supervised by a teacher. In no case will you be asked to work more than twenty hours a week. The money you earn in a Federal Work-Study progrma will help pay for college.

Pay for College with Four Federal Student Loan Programs

College Students

Consider Student Loans to pay for college when you've exhausted all your free resources. Borrowing student loan money costs you interest and has to be repaid after you graduate. However, compared to a regular loan, the interest rate on student loans is low, and the repayment schedule is more flexible. Here are five student loan programs:

1. A Federal Perkins Loan is a low-interest loan to pay for college for students with extreme financial need. It has a very low fixed interest rate, and no other fees. Repayment of the loan doesn't start until 9 months after college graduation.
2. The next best student loan to pay for college is the Subsidized Stafford Loan, because the government pays the interest on the loan while you are in college.
3. An Unsubsidized Stafford Loan costs you interest even while you are in college. On any Stafford loan you don't have to start making payments until 6 months after you graduate from college.
4. Parents of a college student can qualify for a PLUS Loan, if the parent has good credit history. The PLUS loan money is used to pay for college.

There are other state and college loan programs available, too. Surfer Sam has more information about the best student loans, and about student loan debt consolidation.

I hope life brings you much success.
I wish you a very happy day.

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