You may be aware of the debate continuing in America recently about the worthwhile nature of college: is the increasingly expensive cost of higher education going to get your child a job once they make it into the real world? Since more and more people are earning a bachelor’s degree these days, it would seem that the answer is probably still “yes.” If you’re feeling discouraged about hunting up money to help fund your child’s education, here are a few suggestions you might follow to find some funding:
Where to Get Money for Your Child’s Education
Before the end of February, you and your child should sit down and fill out the Free Application for Student Aid (or FAFSA as it is more popularly known), the best and easiest way to find out what kinds of federal loans your child may be eligible for. Most students are granted a Perkins Loan, usually $4000; others receive Stafford loans, which are paid from a private lender or the federal government. Other private lenders such as banks or credit unions, are also viable places for education-related money.
Probably the easiest source for funding your child’s education, scholarships are free money that your child must apply for to receive. The guidance counselor at their high school will usually be able to make suggestions about those that pertain to your child, particularly if they have high academic achievement or some talent or specialty.
If your child is still in high school or has yet to finish their undergraduate degree, and if your family makes less than $20,000 annually, they may be eligible for a federal Pell grant. The Federal Supplement Educational Opportunity Grant is also available for students who have yet to earn their bachelor’s degrees.
This option teaches your child the value of money and responsibility as they literally work to pay for their studies. These jobs are usually awarded to student who will then work somewhere on campus, usually in the cafeteria or college bookstore. Many students can find employment working in the office of the department that houses their area of study.
The U.S. military is another excellent area for your child to research, particularly if they have mentioned that they are interested in joining the army, the air force, or the Marines. The military pays for your child’s college education while they, in turn, agree to serve in some branch of the armed forces for an expressed length of time. Some people choose to attend college first, and then serve, or serve on weekends and special times during the year and then attend college. The military is always interested in people with special skill sets (such as nursing) and may offer bonuses that can be as high as $50,000.