For senior high school students who do not come from an affluent background, looking for a college, university or educational institution that is best fit for them where their available financial resources can compensate the cost of education is quite challenging and stressful. For parents, one of the biggest dilemmas is looking for ways on how they will send their children to college and support them with all the financial means needed to pursue a particular degree. With the continuous rise of tuition fees in most of the universities across the globe, getting into a higher education has now become more difficult for students. According to studies, almost 40% of students who graduated from high school were not able to enter college due to financial constraints. Thus, looking for educational funds is much more difficult than surviving college itself.
While the cost of college education is getting higher and higher every year, there are ways a student can still manage to support and finish his studies. This is when the main purpose of this article comes in. Here, whether you are a parent or a student, you will be able to learn some of the ways on how you can get educational funds for college studies. This will be a great help as the cost of education doesn’t only refer to the tuition fees of a university. There are other expenses associated of studying a higher education such as dormitory rentals, books, miscellaneous fees, facility fees, projects, tours, research papers and even feasibility and thesis studies.
As an old adage says, “every problem has a solution.” Despite the challenges of the current state of the education system and the cost of obtaining a graduate degree, there are ways students can get educational funds and continue their dream of landing a good and decent job in the future for their own benevolence. Here are some of the ways you can get educational funds for college.
Most of the universities and colleges offer scholarship program for chosen and deserved students. Some universities consider providing discount to students who come from indigenous families of the society. This refers to students whose family’s income cannot afford to send a child to college and support his or her financial needs in studying. But before you are able to be considered in this program, in most cases of universities, you need to pass their exams designed for scholars. In addition, you also need to sustain high grades or average for you to get the merit of scholarship program until you finish your course. Additionally, there are a lot of corporations and multinational companies who have scholarship programs. These companies choose students from different high schools who will be part of their programs and will be supported financially in their pursue to finish a college degree. In this case, you need to submit all the necessary requirement and you need to stand out from the crowd because these companies choose their scholars based on student’s academic standing, leadership skills and social involvement.
Government loans are one of the resources of parents in order to send their children to college. There are programs and projects of government that are designed to support families who cannot afford the cost of higher education. Thus, they provide educational loans and plans for such families. One of the good sides of this mean is that government doesn’t impose tax of these loans as the main purpose of this project is to help people with limited financial capabilities.
Education funds / investment
Some financial institutions provide services to people to save for their children’s future education. Financial professionals help you to manage your finances so you can have part of your household income allotted for education funds of your children. This allows families to save enough money that will be used in the future to cover all the cost of studying in a college or university such as tuition fee, miscellaneous fee, dorm rentals and so many more. You can check https://ca.indeed.com/cmp/Heritage-Education-Funds-Inc/reviews for some reviews about Heritage Foundation that provides financial services such as education investment and planning.
Aside from education savings, stock investment is also one of the ways to get educational funds for studies. Some believe that stock investment is more effective mean to grow your money instead of putting them into a savings account or fund. While this may be true, stock investment has a high level of risk factors compared to an education savings plan since there is a lot of volatility in the economy.
One of the common ways to support your study is to ask for a private loan from your relatives or close friends. While this is the easiest way to get into college especially if you have financially well relatives or friends, you have to be mindful of the payment and how long would it take you to pay back.
There are some companies that help employees in their pursue of education. In some parts of Asia, BPOs such as call center companies hire employees even without a college degree. Thus, it will be an opportunity for students who would like to work and study at the same time to support his or her financial needs in school. In addition, some universities offer student assistance program where students can work in some departments of the university as an assistant and as a payment they will be given discounts in tuition fees and other expenses.
In this light, it is fair to say that inspite of the challenges of obtaining a college degree in terms of financial means, there are still other ways students can get into college, pursue their dreams and finish the degree they want to complete to land a decent job. With the mentioned ways to get educational funds for studies, students can now have a peace of mind in contemplating their college studies and future.
David Robson is the founder of Complus Alliance. He has been writing about different topics for almost 10 years. He’s main focus is delivering quality insights to a wide array of audience.