The average cost of college has increased over 30 percent between 2002 and 2008, according to the Department of Education. You know that paying for your education can be difficult, but you aren't sure what your options are. Fortunately, for those without a storehouse of gold or a rich uncle, there are a variety of ways to pay tuition and get your degree.
Grants
Grants are funds provided by the government or private institutions for school that you don't have to repay. You can apply for a variety of grants from the federal government, including the Pell Grant, a need-based grant. The federal government also offers grants for those seeking to become teachers, or those pursuing an education in mathematics and the hard sciences. Beyond what Uncle Sam has to offer, there are literally thousands of grants offered by private institutions for everything from atheist students to students from union families.
College Scholarships
Your next step in paying for college should include looking at what scholarships your college or university has to offer. Your college likely offers scholarships and grants for students with demonstrated financial need. Additionally, many colleges offer scholarships for students with demonstrated academic excellence. Finally, there may be scholarships in specific departments at your school for students in your major. Talk to an advisor at your school to see what scholarships may be right for you.
Student Loans
You may be weary of taking out loans to pay for college. You don't have to take out an expensive loan from the local bank, however. The Federal Stafford Loan is a low-interest student loan that will help you pay for college as well as "extras" like living expenses and books. The Federal Grad PLUS Loan is the equivalent for students in graduate school. If you take care to borrow only what you need, federal loans can be an inexpensive way to make up the gap between tuition and grants and scholarships.
Work Study
Work study makes up the final piece of the financial aid pie. Work study jobs are jobs specifically reserved for students. While the jobs are frequently not glamorous or high-paying, they can help you afford things like books and a night out while you're studying. Best of all, you can get work study jobs related to your major -- or just one with a liberal policy on letting students study during work.
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