This question has plagued many parents who wish for their children to go to college. Even students who support themselves find a difficult time finding expenses to fund their degree. In addition, they also have to worry about living expenses since going to college means moving out of the house and living in a dorm. You’re lucky if you live close to campus. But if you’re far away, there are transportation and accommodation fees to add to your worries.
Luckily, all is not done for. There are many options where to get money to fund your college fees. As surprising as this sounds, even the places you’d least likely expect to help you financially are just around the corner. Read on below where you can find funding for your college expenses:
As a parent, if you’re working at a private company, it’s best to ask what offers does your company give. Especially if you’ve been working at a company for a number of years, some benefits include a special scholarship program for your child. Not all companies have this kind of benefit though so it’s best to ask your boss and inquire if they carry such program.
Banks have scholarship programs catered to college students. If you have an account with your bank for awhile, it is best to inquire about such offers. If there isn’t any, they still offer loans which can help you for the meantime. But always remember to read every detail as there might be high interest rates in paying them back.
Most college and universities have student scholarships that help pay off your tuition fees. For instance, there are academic scholarships and athletic scholarships. Some scholarships also include extracurricular ones such as working for the student paper, participating in the student council and other student body organizations. This can greatly help ease the burden of paying college fees and at the same time build up your resume when you graduate and look for a job.
Jobs may not be free but they do help you pay off your fees. Part-time jobs are offered around campus so you can work and study at the same time. This way, you can also gain a little bit of work experience while you’re still in college.
A Registered Education Savings Plan helps you save for your future college degree by investing an amount of money beforehand. These are quite helpful in the long run. But this type of investment plan is tricky as you need to read the fine print before signing anything. Have a lawyer look at all the details and consult with them if you have any concerns. Be sure to read up on reviews for the type of RESP you’re considering such as this one https://www.glassdoor.ca/Overview/Working-at-Knowledge-First-Financial-EI_IE685207.11
Your future is how you make it. With a little help from these programs, your expenses might be less than what you expected them to be. Always ask around for reviews for any type of scholarship or investment plan you might come across with. This will surely help you in the future.