Pay for College Without Loans

Many people finance their college education with student loans. However, paying back loans after you graduate can take a long time and incur interest. Start your professional life debt-free by financing your college education without taking out student loans. Plan ahead and take advantage of grants, scholarships and other opportunities for financial help.

Steps

Planning Ahead

1. Find a way to earn money while in high school. Not only does working bring in money, it also helps you learn new skill sets, find out what you enjoy doing, and provide valuable references.
   • Start your own business. Do yard work, wash cars, walk dogs, do chores or babysit for family members and neighbors regularly. Take a babysitting course with the American Red Cross to be more marketable and earn more money.
   • Get a part-time job. Work evenings and weekends. Many positions like customer service, waiting or bussing tables, delivering newspapers, cashiering or stocking are great starting positions while you are still in school.
   • Try out for roles in commercials, movies, theater, radio, and TV. Actors and performers are often paid well and can make royalties.
   • The Fair Labor Standards Act (FLSA) states that you have to be at least 14 to do most non-agricultural jobs. State child labor laws also apply. While this age limitation may not include some jobs, such as delivering newspapers, acting, babysitting, working at a family business or chores around a private home, you will want to verify federal and state laws before taking on work for pay.
2. Set aside money for school. Saving early will help you avoid loans. Plan ahead to estimate associated college costs and what you can earn now.
   • Start a college savings plan as soon as you are able to earn your own money. Begin contributing to a 529 plan when you can put aside at least $25 for it every month. That money can be invested and used to pay for college. Learn more about 529 plans by reading Choose a 529 Account.
   • Look into payment plans your state has available. Some states allow you to pre-pay college at the current tuition rates, which will protect you from cost increases when you are ready to enroll.
   • Use whatever money you have saved. Pay your tuition with everything you have in your savings accounts, piggy bank, and investments.
3. Talk to generous family members and friends. Now’s the time to network and garner favor. Some of your connections might be willing to help you pay for college. Investing in higher education could be an attractive idea for people who have the means.
   • Make sure potential benefactors know about qualified transfers. This allows them to pay tuition directly to a qualified college for you without being subject to the gift tax. You should both consult a tax advisor before going through with the transfer.

Going to College

1. Use tests to earn credits through CLEP and DSST programs. At only $80 for 3 credits, this can cut out a great deal of money - and save you tons of time!
2. Attend a low-cost college. School tuition and fees are important factors to consider when choosing potential colleges or career schools. The cost of your school should be reasonable compared to your future career’s earning potential. Research colleges and apply to the ones with the lowest tuition costs and fees after financial aid.
   • Check out your local community college. Many community colleges are inexpensive options as you can live at home and take classes. You can transfer to another school to pursue further education after you have completed a few years at the community college level or once you have fulfilled all your general education requirements.
   • Most schools provide information on attendance costs and offer a net price calculator on their websites. This calculator will give you an idea about program costs minus any financial aid.
3. Live with your parents or another family member. While you are in college, many family members will allow you to live with them for free. This will remove most living expenses so that you can use the majority of the money you earn on your tuition.
4. Get a roommate. If you cannot live with someone, sharing the cost of housing is an excellent way to save money that you can use to pay for college. You can also split living costs, such as food and utilities. To save even more, opt for several roommates.
5. Use public transportation, carpool, bike, or walk. Purchasing a car can be an expensive investment that requires payments, insurance, maintenance, and gas. Using other methods to run errands and go to school could save you hundreds of dollars a month that can help pay for school.

Getting Student Aid

1. Apply for all types of aid. Most qualifying students who attend participating colleges receive some kind of financial aid. It is even possible to get a “free ride” through college with all costs covered. Talk to your college financial aid department to discuss your options.
   • You will need to fill out the Federal Application For Student Aid (FAFSA) and other application materials.
   • Grants such as the Pell Grant do not have to be paid back. The amount awarded will depend on your financial need and the cost of your school. Along with federal grants, states and schools often offer their own grants as well.
2. Apply for scholarships. Most scholarships are based on merit, and you can earn one by meeting certain standards. This can mean academic achievement, being part of a particular group, or having a special talent, trait, or interest. Some scholarships might also be based on financial need.
   • Whether you are a great athlete, a volunteer in the community, or a star student with stellar grades, there is probably a scholarship available. The U.S. Department of Labor offers a free scholarship search tool here.
   • Use another Internet service to help you locate scholarships you might qualify for. Try sites such as FastWeb, Petersons, and The College Board. These are free sites that take your information and notify you when a scholarship is announced that you are eligible for.
   • Check with your college on scholarships that are available to incoming students as well as other scholarships for students that you may qualify for.
   • Look for local scholarships. Many civic organizations such as The Kiwanis Club, The Junior League, and religious organizations often offer scholarships. You may also qualify for scholarships with nonprofit or private organizations in your city or state.
   • Each scholarship will have its own requirements. The scholarship website should provide more information on how to qualify and apply. Make sure you read application materials carefully and meet application deadlines.
   • Be aware of scams. Make sure scholarship offers are legitimate. You don't have to pay to find scholarships or financial aid.
3. Choose a career path that will allow you to use service-based grants and scholarships. Examples include the Reserve Officer Training Corps (ROTC) Scholarships or a Teacher Education Assistance for College and Higher Education (TEACH) grant. This grant is available for those who are taking classes to begin a teaching career. Many other public service-based grants and scholarships are available, so check with your school.

Working to Cover Tuition

1. Work to pay your tuition. Many students go to college part-time so they can work full-time jobs to pay for college. You could also go to school full-time and work part-time to finish school more quickly and have some extra money for tuition.
   • Look for work-study opportunities at your college. This is often a big part of many students' financial aid plans. Some colleges may also offer programs that allow you to work in exchange for tuition waivers. Ask your financial aid department for details.
2. Find out if your employer offers tuition assistance. If you work full-time, your employer might pay for your college classes. Check with human resources about the availability of this benefit. You parent’s employer may also offer tuition assistance to family members.
3. Consider military service. The federal government helps veterans pay for college with the GI Bill. While in the military, you can often get tuition waivers as well. Alternately, you might consider joining the AmeriCorps.
   • Investigate all of the programs offered by the Department of Veteran's Affairs. The amount of benefits you receive will depend on your length of service and what type of education you plan to pursue.
   • AmeriCorps programs provide pathways to opportunity for young people entering the workforce. You will enter into service positions to learn valuable skills and earn money for education.

Tips

• Check and proofread all of your applications carefully. Make sure you do not leave any information out and provide all of the details that will make your scholarship or grant application a winning one. Also, be sure to meet deadlines for applications.
• If you absolutely must take out student loans to pay for school, consider loan forgiveness and student loan assistance programs, such as the Nursing Education Loan Repayment Program (NELRP), the Peace Corps, Teacher Loan Forgiveness programs, and the Public Service Loan Forgiveness (PSLF) program.

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