by Ashley A.
As current high school students, taking the ACT, receiving a plethora of homework/tests, and stressing about what colleges we want to attend are many of the factors that high school students are faced with. Not to mention, the stress of getting into colleges and affording them in general can be a giant headache! However, taking a deep breath and sitting down to look at all of the resources available, is the best thing one can do before stressing themselves out. In today’s blog post, I will be discussing the ways you can afford college without getting overwhelmed.
Scholarships
One of the best and most common ways to obtain money for college is by applying for scholarships. According to U.S News, “In 2019-2020, college students received an average of $7,626 in scholarships and grants to cover about 25% of the total cost of college”. There is no doubt that applying for scholarships can help students earn money to put towards college -- not to mention, you can apply for more than one scholarship! Although, it is common for students to get discouraged when thinking about scholarships. “I’m not smart enough” or “I don’t play any sports” is the typical response of a high school student. However, do not worry! Every single student has something special to offer and when applying for scholarships, the organizations look for that special something about each student! “Scholarships open the door to a college education for talented students who might otherwise be left thousands of dollars in debt, or not attend college at all” as stated by the Foundation Education student responses website. As well, below I have provided a chart in which you are able to get some inspiration for your own scholarships. In other words, don’t be afraid to apply for scholarships, because doing so could both open the door for your future and earn you money to pay for tuition as well.
Loans
Another way students are able to afford college is by taking out loans. This should be your LAST resort when affording college, but it seems to be a very common way to pay for college amongst most college students. An organization that is knowledgeable about loans, Student Loan Hero, stated that, “Among the class of 2019, 69% of college students took out loans, and they graduated with an average debt of $29,000.” It is clear that taking out loans leads to a lot of debt. You should only take out loans to pay for college tuition if you don’t have a big source of money. Considering your financial situation, if your parents are chipping in to the cost, or other factors, is what you should consider before taking out a loan.
Parent and Student Income/Savings
Taking a close look at the income both you and your parents are making as well as the amount of money you have saved, is a crucial step in the process of affording college. According to NerdWallet, “The typical family covers 43% of college costs that way”, proving that nearly half of a student’s college tuition is covered off of the money they have already saved. This is another reason as to why it is crucial to start saving NOW rather than later. Currently, there are several ways people can save for college -- prepaid tuition plans, a job, and 529 college saving plans (more information on the 529 plan here: www.savingforcollege.com) just to name a few. Paying for college is no easy task, so making sure you have a cushion of savings to rely on is extremely important!
Relatives and Friends
The last way you can obtain money to afford college is through your relatives and friends. Have you ever received money for birthdays, holidays, or special occasions? Well that’s good news for you! One of the best ways to add to your college savings is by taking this extra earned money and putting it directly into your savings account. Each dollar saved adds up, which is why it is important to stash away the extra money you’ve earned so that you can put it toward college expenses.
In all, when people hear the word “college” they think of stress, school, competition, expensive, etc. However, it doesn’t have to be this way! Instead of overwhelming yourself with the thought of college, take a deep breath and consider all of these options when trying to afford college. Establishing yourself and ensuring that you can afford your tuition, will help take a lot of additional stress off your shoulder. I hope this post helps you in your future endeavors and good luck with your college applications!
Works Cited
"How to Pay for College Using Overlooked Strategies." U.S. News & World Report. U.S.
News & World Report. Web. 14 Mar. 2021.
Nykiel, Teddy. "How To Pay For College: 8 Tips." NerdWallet. 05 Feb. 2021.
ONeal, Anthony, and Ramsey Solutions. "How to Pay for College Without Student
Loans." Daveramsey.com. Web.14 Mar. 2021.
The Good News Is That Most Students Receive Some Financial Help Paying for
College. "7 Ways to Pay for College without a Scholarship." Web. 14 Mar. 2021.
"U.S. Student Loan Debt Statistics for 2021." Student Loan Hero. 27 Jan. 2021.
I think something thats important for people to consider is how long it takes to apply for a scholarship. I worked at mens warehouse for 6 months and had around 3000 dollars saved. I worked more than 300 hours at that job. 300 hours. I could have made the same amount of money for college by working 2 or 3 hours writing an essay for a scholarship. For a long time I thought I didn't need scholarships because I would just work for the money. This is a really bad mindset. I can't imagine the amount of disposable money I would have if I would have applied for scholarships early. Some ways to save for college are definitely better than others.
ReplyDeleteYour article was super cohesive! I loved the clean sections that explained clearly the different financial options for funding college, and why different options might be favorable to different people. I completely agree with your sentiment to not be afraid to apply for scholarships. My mom always told me that instead of working she would prefer I work hard to apply to a lot of scholarships. I still got a job since scholarships are not a guarantee, but I am trying to apply to a lot of scholarships since that “free” money can cave you years of debt and financial strain. Great work, Ashley!
ReplyDeleteI feel that a lot of students know about scholarships, but don't take the time to look into them and apply. Instead students just result to taking out a loan causing thousands of dollars of debt. Another thing about scholarships is that students don't do much research and just apply for the first scholarships they see. Although those scholarships offer a lot of money, they are highly competitive and highly applied for. There are more ways to pay off college than just taking out a loan, and I think you did a good job highlighting those things.
ReplyDeleteYou make a great point when you say that people don't take the time to look at the scholarships to apply for them. Not all of them need you to be outrageously smart or amazing at sports. This blog is also very helpful for students now since a lot of them are going into colleges by next year and this is a great article to help them with the know how on how to pay for it.
ReplyDeleteThe post was very helpful in the fact that it gave many options to students so they can find a way to save up money for college. Many students know about scholarships but not everyone applies for them and I think that this should have less stress on students because it is just another way to help pay for college in the future. I have had a job since I was 14 and I have saved up enough money that I hopefully won’t need to take out loans, but having family and scholarships help lead that way into college is really nice. Even though having a job won’t cover the whole cost of college, especially if the college is really expensive, students have found many creative ways to save money for college and this post gave more information on ways to save money. I would maybe list some “fun and creative” ways that students can save money to get more options as not every family can help pay for college.
ReplyDeleteThis post is very helpful for me for the upcoming months as I am going to college in September. I find it very useful as I can use some of these methods to help me pay for my college and not have to stress about how it will be done. I think that these methods are some of the best. Great blog post!
ReplyDeleteThis is a super important topic that most people don’t think about until it’s too late to save or apply for scholarships. This article was written very well, giving good foundational knowledge about options. I think that a lot of people forget that asking parents or saving relative money is a viable, and quite frankly super beneficial, option. It is super important for those who plan on attending college with financial worries to start saving early, as college is only going to get more expensive from now on.
ReplyDeleteYour article was very relevant to us (the audience). I think saving for college can be very stressful whether it's filling out a long FAFSA application or even looking for legitimate scholarships online. Your article was insightful on other options that may relieve the financial burden. I think many people assume that they’ll just use their financial aid but may have trouble paying it back. If you take out student loans they’ll give you extra for food, housing needs, etc. If you’re able to take what you need and save the rest it can be easier to pay back student loans asap. Student debt is a very real issue and can follow you through your adult life for years after school if you don't manage your money.
ReplyDeleteYour blog post was extremely calming and helpful about one of the biggest stressors in high school life, which is, of course, college. I never considered the money that I get from birthdays and holidays as something that could go to my college fund, I only ever thought of it as gift money, so it was extremely valuable to have this new perspective. Hopefully I can save more now considering I know the amount of money that an average family makes and saves in order to save enough money for all of college. Do you think that it's harder for students with less talents to get scholarships? As a student that only considers myself to be good at something like writing, I am extremely worried that I won't get enough scholarships. However, your chart about what type of different scholarships there are was really reassuring, so I'm hoping that I will get some more money in scholarships now. Great blog post!
ReplyDeleteI really appreciate this blog post, as this is something that I have had on the front of my mind as a junior. With our guidance meetings there was some mention of scholarships, but the variety of options that you provided are incredibly helpful. In regards to scholarships, there are many in terms of large and size, as well as typical competitiveness that correlates with such that all people considering college could benefit from. You mentioned that a lot of people do not become financially educated before attending college so they might not attend, so do you think that if people planned for college financially, the amount of people that would attend would increase?
ReplyDeleteAs a senior, I have already been accepted to college, and have applied for scholarships. Truly, financing college is a huge headache! I agree that sitting down and researching options and making a plan is extremely important and helpful. Instead of avoiding it, just get it done! As my dad has told me, “If you spend 2 hours writing an essay, and receive a $500 scholarship, you have just earned $250 an hour.” I was surprised at the high percentage of college students that have to take out a loan. I feel like if more of them knew about or pursued the other financial strategies, that percentage would be less. Overall, this blog has some really good info in it, and everyone worried about college should read it!
ReplyDeleteThroughout my entire life I didn’t think it would be so difficult to pay for college, until now. I have already committed to Carroll University and when looking at how much it costs after FAFSA, scholarships, etc. It still blows my mind as to how expensive it is. Of course I am unable to afford for college out of pocket but really, nobody can. Your article helped me so much as to how I can still lower the cost of me attending college. I have a first-year college commit in my family so unfortunately my family isn’t able to help me with all of the “paying for college” things. Again, this article was more than helpful so, thank you Ashley!
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ReplyDeleteI loved your topic! I feel like many high school students get stressed out at the thought of college and these resources can definitely ease some stress. I currently have been applying for as many scholarships as possible and have found there is definitely a scholarship for every student. Every year there is tons of scholarship money that goes to waste because no one applies for it. I definitely think scholarships should be promoted more and are not used to their potential. I also think it is important to talk to your parents about your future and what path is best for your family. Overall, your article was very informative and put together in a way that made it very easy to read! Great job!(Ally Longden)
ReplyDeleteI'm really glad you chose this topic for you blog post. Affording college is something I've seen both my parents and my older sister struggle with and after reading your post, I feel like I learned a lot about different steps I can take to make college more affordable. I know there are a ton of random scholarships out there that schools will provide for you and I think those are a great way to get extra money that a lot of people don't know about because, as you mentioned, they don't play sports so they think they can't get a scholarship. I think your post overall was super informative and helpful. Great Job!
ReplyDeleteThis post was very applicable to my life since I will be going to college next year. Your article reminded me that I'm in the same boat as almost everyone else when it comes to affording college. You gave great tips on how to make college more affordable for the average student.
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