Most students biggest fears are the life outside their nurturing home. As kids and teenagers, they dont need to worry about finance and paying mortgages or making sure that their credit isnt off limits. Then comes college and they just have to grow up and face certain responsibilities, not just academic ones, but also financial.
In light of recent economic downturn, a lot of parents just dont have enough money to send their kids to prestigious universities. Instead, the kids go to a local college or sometimes not go to college at all. But there are other ways to fund this dream, and as a student, you should explore every option before giving up.
A quite unknown way to fund tuition and boarding as a student is a government grant. The government is allocating funds for many purposes, like starting a business, research, help for single moms and also grant to fund college expenses. A student grant can cover not only the tuition for 3-4 years, but also boarding and even books and research facilities. The best thing about those grants is that you dont need to pay them back, they are completely free.
Applying for a student grant is not very complicated, and a lot it depends on the letter you send to the grant makers. You can get help in writing the application letter from an advisor that can tell you what to write so you would appeal to those who approve the grants. You can find lots of websites that help and explain exactly what to do, and how to find the grant that is most suitable for you.
The most known way to finance education is student loans. Most banks offer loans in different conditions, and the student loans are usually quite easy in terms of interest and dead-line. Still, a loan needs to be paid back, and usually you pay more that you got, because of the interest rates.
Thats why finding the loan with the lowest interest rates is the best move you can make. Do your research and visit at least five banks before making the final decision. Go for the one that has both low interest rates and friendly service, as it would be critical if you will need to extend the payment deadline.
Another way to fund your college years is to find a part-time job. You can work at a fast food chain, or give private lessons to kids, and use this money for tuition or rent. The biggest challenge of working while studying is that you never have enough time for both, so sometimes youll need to study less or not prepare for an exam because of your job.
No doubt that grants are the best way to fund college, as they do not demand you to give up on studying time. With a little research and preparation, youll surely find a grant that suits you and help you to pass those years without worries.
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Tags: Student, Student GrantsSource: http://www.finnmac.com/small-business-news/student-grants-are-a-great-alternative-to-loans
richard cordray shannon de lima joe torre west virginia university michele bachmann jessica biel tim howard
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