Last Ditch College Funding Ideas

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What a shame it is to hear that many students who are just days away from starting college still don’t know what their tuition bills will be for this coming academic year. That delay, which has been attributed to college budget cutbacks which are still being made, gives students and their families little time to explore options in a bid to help them fund their education.

financial aidJust last week we published an article titled, “What Should You Do When College Aid Isn’t Enough?” which listed four options that students can explore if their funds fall short. Admittedly, the last step, switching schools probably didn’t go over too well, but if you can’t pay the tuition, then you aren’t going to class this fall. At least at your intended school.

Don’t Give Up!

As a follow up on the previous article, SayCampusLife.com has come up with some more details to help you further your education this fall, so let’s quickly explore what they are:

Get Reviewed – Even if your college comes with a financial aid figure that isn’t generous enough, you can challenge their assessment, but you’ll need to do it fast. You’ll should write a letter to the college and ask for a “professional judgment review” in order to get a second chance. Expect to offer proof as to why additional funding is needed; perhaps the school isn’t aware that your family finances have turned for the worse over the past few months.

Ask For Help – If you work part time, especially for a national retailer or food service company, you may qualify for financial assistance through their own college aid program. McDonalds, for one, is a strong supporter of college education, helping employees further their careers. Some companies may require you to stay on part-time while attending college, but perhaps that was part of your plan all along.

Community College – If funding dries up, then contact your local community college immediately especially if you are a freshman or sophomore. Most community colleges start a week or two after public colleges and universities get their start, therefore you may be able to apply, register and enroll quickly especially if the school has an open enrollment policy. Take only those classes which you KNOW can be transferred back to your school. Make sure that you take a leave of absence from your school and work over the next few months to get your finances in order so that you can return as soon as January.

Borrow Money – If you still don’t have enough funds to pay for school, then consider borrowing the difference. However, instead of exploring student loans and other debt options only, think about asking a family member or friend for assistance. It can’t hurt to ask, but if you do get a loan then make sure that you put everything down on paper – why strain a friendship if repayment terms are not clearly spelled out?

Time is of the essence and you have none to waste. Even if you haven’t received notification from your school yet, be prepared to act – fast!

Adv. – With the start of college imminent, do you have all of your finances in order? If not, you may need to secure a private student loan to help close the financing gap. Please visit SayStudent.com for review your private student loan options.

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Categories: Personal Advice