How to Pay for College
Going to college is an exciting next step that many people take after high school. However, it often comes with a high price that can be daunting. Today, we’re going to go over a few ways you can prepare for college expenses.
Start with Financial Aid
The first step for most students is filling out the Free Association for Federal Student Aid. The FAFSA determines your eligibility for federal grants, scholarships, and low-interest student loans.
Even if you don’t think you’ll qualify for much aid, it’s worth completing the FAFSA. Fill out a FAFSA form here.
Apply for Scholarships
Scholarships are a great way to reduce college costs because they don’t need to be repaid.
Start by looking for:
- Local scholarships: Check with community organizations, high schools, and your financial institution. We offer scholarships to our members who are attending a 4-year or 2-year college or technical school. Learn more here.
- School-based scholarships: Many colleges automatically consider admitted students for merit rewards. Look at your school’s website to see the different scholarships they offer.
- Private scholarships: Use trusted sites to find opportunities that match your background, interests, or career goals.
You should apply for as many scholarships as you can because the more you apply for what you are highly qualified for, the better your chances are of gaining some extra money for school!
Explore Grants
Grants, like scholarships, don’t have to be paid back. They’re often awarded based on financial need. The most common is the Federal Pell Grants, but your state or college may also offer additional grants. Be sure to check all sources when reviewing your financial aid options.
Consider Work-Study and Part-Time Jobs
Work-study programs allow you to earn money while in school, often through on-campus jobs that align with your field of study. You can find laid back campus jobs that allow you to work on homework during your work hours. If you don’t want a job that’s on campus, you can work any part-time job that’s available near you to help earn some extra cash. Working during college isn’t always ideal, but if you have room in your schedule for a job, it could be very beneficial. You can put that money toward books, supplies, and groceries.
Look into Family or Community Support
Before going to college, have a conversation with your family to see if they plan on helping you financially. Some families use savings from 529 college plans to help pay for college. Credit unions may also offer student loans designed to help students and parents manage college expenses responsibly. Learn more about our student loans.