How to pay for a college education

It’s that time of the year and classes have begun at many colleges and universities.  Paying for an education is a serious problem for both parents and students.  Here are some ways to get college credit at much less expense than you might expect.

The Internet offers many options.  Other than to say that you should use your search engines and also check with the school of your choice, I will not discuss them here.

Many states have programs similar to Florida’s Bright Futures which can pay for much of your college expense.  If you have good enough grades, you can get a full scholarship (100%) at state schools.  Slightly lower grades still earn you a 75% or better scholarship.

Check into the Junior Reserve Officers Training Program while you’re still in high school or getting ready to go.  You have to put up with a lot, not only from the course, but from fellow students, but, believe me the outcome can be great.  You can earn a full scholarship, even outside your own state, and get a stipend besides.  Some of the programs include room and board.

During your four years in college you’ll probably spend part of your summers with the military.  Navy ROTC members, for example, may spend time at sea while Army, Air Force and Marine cadets may spend time at various bases and doing things similar to what you’ll encounter when going on active duty.

You’re not limited to the service represented by the ROTC unit you join.  You probably will be able to choose which service you actually join upon graduation.  I say “probably” because the needs of the military often dictate what you actually can do.

Also, those gold bars will feel awfully good when you graduate.  Should you decide to make a career of the military, you’ll find that gold or silver on your collar means a lot more retirement money than stripes on your arm.  Medical and educational programs for families are worth looking at, too.

If you don’t want to go that route, you can pick up 30 semester hours in less than a week at a much lower cost in money and time than actually attending class.  There are five general College Level Examination Program tests, each worth six credits.   They are: English Composition without essay; Social Science & History; Natural Sciences, Humanities and College Mathematics.  CLEP General and Subject examinations are accepted for credit by more than 2,900 colleges and universities. 

These tests are usually equivalent to your first year of college.  There are many other exams available for credit.  Check with the school of your choice for more information.  They can often be used as electives. 

These are generally free to military personnel and some civilians.  Otherwise, you may have to pay a charge – but it’s much less and takes much less time than actually attending class.

Enlisting in the military often results in your state’s guaranteeing you an education as long as you meet the qualifications which depend upon the state.  As another possibility, you may be able to “challenge” a course; i.e., take the final exam and if you pass, you get the credit. 

Some schools even offer credit for “life experience,” but you have to, again, check with the school to see what they will allow. 

Ok.  Let’s say you have completed college and now you’re looking at having to pay back those enormous loans.  There’s a way to make it easier.  Here’s an excerpt from http://www.money-zine.com/Financial-Planning/College-Loan/Student-Loan-Forgiveness/:

Student loan forgiveness programs and service payback programs are really just a variation of a work-contingent student financial aid program.  For example, service payback programs cover all or a portion of a student's costs if they agree to work for a specific period of time in a certain field or job after completing their education.  These programs pay for a student's expense while they are attending school. 

One of the possibilities here is becoming a teacher for awhile.  I’ve not only given you some suggestions on how to get your college education at less cost but also how to make paying for it easier. 

Good luck.