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Writer's pictureGeorge Arun A

Wish You Could Finance Your Studies?

Financing College

Many people have avoided college because they though they couldn't afford tuition. While college is expensive there is no reason a student should let money put a stop to their education. There are many sources that help fund a person's college.


Gerald Hochschule

11.04.2023

Federal financial aid, scholarships and tax credits and deductions are just a few sources that are there to help you. It would be beneficial for you if you gather firs-hand information about financial aid, the process of applying for a loan, opportunities that are there to win scholarships and tax credits and deductions. Several government agencies work in coordination with college management to provide financial aid to students willing to pursue higher education.


There are several programs you may qualify for:

When in search of financial aid try grants first. Grants can cover the entire cost of attendance and do not have to be repaid. They are available through state and federal governments and are available based on a student's income or that of their parents.


Also try to qualify for work study. The program allows the student to work on campus for minimum wage. The money can be used for tuition or living expenses. Work study can sometimes be based on the student's field of study or personal interest. This however is not guaranteed. The program judges eligibility by the amount of income the student receives.


Loans: There are a variety of loans that you can get to fund your college studies. You also don't need to show your financial needs to get these loans, but it would not be a good idea to do so. That would invite interests at all times. When you get a loan because of your financial need, you are not charged interests during the period of your study. To qualify for a loan you would have to submit an application form which can also be done online. It is advisable to apply for loans as early as possible.


Scholarships: Scholarships are not needed to be paid back like grants. Before applying for scholarships you would to be required to take admission. You may be automatically considered for scholarships based on your past academic achievements, achievements in the field of sports or other activities.


Discounts on a student's taxes are also available to students. These taxes include having any interest the student is paying while in college deducted from their taxes. A student must qualify for the deductions. To find out if one qualifies they should talk to a tax expert.


Finances shouldn't stop anyone from attending college. With the forms of financial aid available everyone can afford college. Deciding not to attend college is one thing, but not going because of money is stupid. There is money available, and our tax dollars contribute to these funds. Therefore, we should use them.


If you are thinking of joining a college and the only thing that is stopping you is finance then rethink about it. You can make use of the various provisions to help fund your studies.


There are several ways you can do this including:

  • Pay all fees upfront before the course starts.

  • Get a government loan.

  • Apply for a study scholarship.

  • Do an apprenticeship or cadetship.

  • Work and study at the same time.

  • Get student income support.

Tips for studying and working.

  1. Have good time management. Set up a daily or weekly plan for yourself and ensure that you set aside time for your studies daily. Vary the study times to fit in with other commitments such as family, sports etc. Be aware, and accept, that your weekends are likely to be eaten into by at least some regular study. Depending on your commitments and need for sleep, early Saturday or Sunday mornings can be a good time to study. They allow you free time later on both days for family, religious observation, sport, friends, other activities etc.

  2. Get yourself motivated by staying in contact with your classmates. Use the e-mail or other social media to share ideas and brainstorm responses to assignments. When studying and working, it can be easy to lose motivation without constant student contact, so make the most of technology to meet online. Try to catch up before or after classes occasionally to put faces to the names.

  3. Set goals and reward yourself when you attain them - this is a great self-motivating habit. One great goal is time off from studying!

  4. Set up a quiet place for study away from home life distractions, such as the television, phone calls or other family members. Always keep your textbooks, notes, computer etc., in this one place for easy access and retrieval when needed. It saves worrying where things are after a long day when you're feeling tired!

  5. Make room for play time. Play refreshes us and gives us greater purpose in life. Get out there and enjoy yourself; continue a hobby, go bushwalking, see a film, spend an afternoon with your friends and family. While you're playing your mind is resting, but is subconsciously computing the study you've learned. Always put down recreation time in your timetable.

  6. Enjoy the crossover between work and study. Full-time students may appear lucky to you but they are missing out on the key thing that is pushing you - work experience. Already working provides added value to your study, by providing real-life insights and examples that can help you better understand your studies. Even if your work and studies are completely unrelated, work is still providing you with the skills of prioritising, managing, balancing tasks, time-management, dealing with colleagues and customers etc.

  7. Ask your family and friends to be understanding. You have taken on a lot for the duration of the studies, and they may not see much of you at times, such as when you have classes and assignment work. Ask for their support during your busy times.

  8. Always eat healthily, exercise and sleep well. Maintaining a job and studying at the same time requires a good deal of mental and physical energy. Being tired or exhausted day after day is the last thing you want and may kill motivation. Keep a healthy body and it will help you in the long run too.

  9. Don't let your work slip. If you are finding the study is taking so much effort that it is affecting your work, you need to make changes such as fewer courses or negotiating time off work. Some workplaces can offer study leave.



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