Education after high school is incredibly expensive, and this economy does not help whatsoever. Saving up before you go to college is crucial, but most kids are not thinking of this when they are shopping for graduation diploma and cap and tassel. That is why, as parents, you must teach your child financial responsibility and good spending habits. Of course, they can always apply for a student loan, but you will have to co-sign with them, and they are obligated (most of the time) to begin repaying it after they graduate college.
Be emphatic that your child exhausts every single scholarship opportunity. There is an abundance of scholarships and grants available to students; all they have to do is search for them. Remind them that even small scholarships contribute a lot, because that means fewer student loans. After all, most college students do not have a guaranteed position at their dream job immediately after graduation, so there is no promise that they will be able to afford their loans. What type of cords for graduation you have can have an impact on academic based scholarships, which are sometimes available through the college your student will be attending.
The more they search, the more they will find, as there are many, many websites that provide a database of scholarships. All your child has to do is enter some basic information about themselves to see which scholarships they are eligible for, then select the ones they want to apply for and apply for them. Applications sometimes include an essay, the prompt of which is found along with the other application materials. Filling out so many applications can be tedious, so you have to keep reminding your child that it is completely worth it. Scholarships are essentially free money, aside from the work put into the applications and essays.
Student loans are also a great way to pay for college, but like all other loans, your student will be obligated to pay them back. Payments are typically deferred until after graduation, which is a great way to let your student focus on getting through college. Since most eighteen year olds do not have a lot of credit, you will likely have to cosign with your grad. Make sure your student understands that they are the ones who still have to pay the loan, but if they cannot for whatever reason, you can do them a favor.
An often overlooked resource is the university’s financial aid office, where you can get help filling out FAFSA paperwork and more suggestions for scholarships. You may find small ones that you had no idea existed, but every little bit counts in the long run.
If your child has excelled academically or even if their performance was average at best, there is no reason why college should be unaffordable. Investigate as many places as you can, and don’t be afraid to take out a small student loan. Your child’s education is worth it!
Be emphatic that your child exhausts every single scholarship opportunity. There is an abundance of scholarships and grants available to students; all they have to do is search for them. Remind them that even small scholarships contribute a lot, because that means fewer student loans. After all, most college students do not have a guaranteed position at their dream job immediately after graduation, so there is no promise that they will be able to afford their loans. What type of cords for graduation you have can have an impact on academic based scholarships, which are sometimes available through the college your student will be attending.
The more they search, the more they will find, as there are many, many websites that provide a database of scholarships. All your child has to do is enter some basic information about themselves to see which scholarships they are eligible for, then select the ones they want to apply for and apply for them. Applications sometimes include an essay, the prompt of which is found along with the other application materials. Filling out so many applications can be tedious, so you have to keep reminding your child that it is completely worth it. Scholarships are essentially free money, aside from the work put into the applications and essays.
Student loans are also a great way to pay for college, but like all other loans, your student will be obligated to pay them back. Payments are typically deferred until after graduation, which is a great way to let your student focus on getting through college. Since most eighteen year olds do not have a lot of credit, you will likely have to cosign with your grad. Make sure your student understands that they are the ones who still have to pay the loan, but if they cannot for whatever reason, you can do them a favor.
An often overlooked resource is the university’s financial aid office, where you can get help filling out FAFSA paperwork and more suggestions for scholarships. You may find small ones that you had no idea existed, but every little bit counts in the long run.
If your child has excelled academically or even if their performance was average at best, there is no reason why college should be unaffordable. Investigate as many places as you can, and don’t be afraid to take out a small student loan. Your child’s education is worth it!
