How to Pay for College Using Overlooked Strategies

Ways to Pay for College Aside From Taking Out Loans

It’s no secret that college is expensive. Getting a bachelor’s degree usually means four years’ worth of tuition, class materials, and other costs, which can quickly add up. Before you start looking at taking on student loans, you should make sure you have exhausted all other options first.

At OVC Scholarship Network, we offer resources and guides to students who need help paying for college. One of our most useful resources to students is our verified scholarship directory, which is regularly updated throughout the year with merit-based and need-based scholarships. If you need help paying for college, consider checking out the directory or trying other unconventional strategies to minimize what you owe.

Three Overlooked Strategies to Pay for College

Paying for college can feel like a puzzle. Most students know about federal aid and big national scholarships, but some of the most useful funding sources get far less attention.

Look for Local Scholarships

Local scholarships are one of the easiest funding sources to miss, mostly since they get so little advertising. Community foundations, credit unions, civic clubs, local businesses, and even your parents’ employers often set aside money for students in the area. These awards tend to be smaller than national scholarships, but the applicant pool is much smaller too. Competing against 40 students from your county gives you far better odds than competing against thousands of students nationwide.

To find local awards, check with your high school counseling office or your college’s financial aid office. A few small awards can add up quickly, so apply to more than one.

Take a Gap Year

A gap year between high school and college can do more for your budget than most students expect. Working full-time for a year lets you save for tuition, books, and housing before you ever set foot on campus. Some students join service programs like AmeriCorps, which can offer an education award after a completed term of service. Others gain work experience that makes future scholarship applications stronger.

If you have already been admitted, ask your school about its deferral policy before you commit to a gap year. Some colleges will hold your spot, and some will let you keep a scholarship you have already earned, but the rules vary from school to school. Get the details in writing.

Grants Tailored to Your Major

Grants tied to a specific major are another funding source that many students overlook. Professional associations, industry groups, and some state programs offer money to students studying fields like nursing, teaching, engineering, and agriculture. Many of these fields need more trained workers, and helping students pay for school is one way to fill that need.

Some major-specific grants come with strings attached. The federal TEACH Grant, for example, requires recipients to teach in a high-need subject at a low-income school after graduation, and the grant turns into a loan if that service requirement is not met. Read the fine print carefully. Your academic department is worth a visit too, since professors and advisors often hear about field-specific funding first.

Other Expenses to Budget for in College

College costs go well beyond tuition, and the extra expenses can catch first-year students off guard. Planning for these costs early can keep a small budget gap from turning into credit card debt. Some costs to build into your budget include:

• Textbooks and course materials
• Lab, activity, and technology fees
• Transportation
• Housing extras
• Health costs, including health insurance and prescriptions

A simple monthly budget, built before classes start, can show you exactly where your money is going. If a gap shows up, consider applying for a few more scholarships before borrowing more than you need.

Contact OVC Scholarship Network

Finding money for college isn’t always easy, but you do not have to do it alone. At OVC Scholarship Network, our resources are geared to help students find verified scholarships without wading through outdated listings or scams. Contact OVC Scholarship Network or explore the directory today to start building your plan for paying for college.