Need money for college? Here are 10 ways to raise it

Need money for college? Here are 10 ways to raise it

College is a great place to learn, but it’s also a very expensive place to do so. When you factor in all of the expenses that it takes to attend a college or university, most students find that they have out-of-pocket costs that far exceed their tuition and housing expenses.

This forces a percentage of students to give up on their dreams of higher education, or take on mountains of debt in order to attend.

If you’re one of the many students who need to find ways to come up with extra money for college, don’t worry – you’re not alone. There are plenty of ways for you to raise the cash that you need, and we’ve put together a list of the top 10 ways for you to do it.

1. Apply for scholarships and grants

Scholarships and grants are money that you don’t have to pay back, so they’re basically the best possible way for you to get free money. They can come from your school, other organizations, or even the federal government.

Some examples of scholarships are The Gates Millennium Scholarship, which is awarded to minority students who want to go into science or engineering fields, and The Coca-Cola Scholarship, which is awarded to students who maintain a high GPA.

Grants are essentially scholarships that aren’t merit-based. They can be given by the federal government or from certain foundations, and you also don’t have to pay them back. An example of a grant would be The Pell Grant, which gives money each year to low-income students.

There are literally thousands of scholarships, and applying for as many as you can is one of the most important things that you can do to raise money for college. You can search online (or in your local library) for scholarships based on criteria such as gender, race, major, GPA, financial status, and so on.

2. Get a job

Your school’s career services center is an amazing resource, and it can help you get a job on or near your campus. You can even get a part-time job that will give you some extra money while simultaneously improving your resume and networking with potential future employers. If you’re not close enough to the school to get a job there, you can also look online for work in your area.

3. Consider college student loans

While student loans usually have fairly low-interest rates, the truth is that they’re also a form of debt. This means that you’ll have to pay them back with interest when your grace period at school ends, and it could add up to a huge financial burden if you don’t watch out for it.

Before going this route, make sure that you’ve exhausted all of your other options and that you really need the money. The last thing that you want is to be paying off student loans for years after you graduate.

4. Get your parents to help pay for college

If you’re a dependent, you’ll typically need your parents’ permission in order to get federal aid such as student loans and grants. You can also ask them if they’d be willing to take out Parent PLUS Loans (in the case of financial hardship) or supplement their savings with extra funds from home.

5. Take out a private loan

Private loans are typically given by banks and other lending institutions, and the interest rates on them tend to be much higher than on student loans. However, they can be a great option if you need more money than what your school offers in financial aid.

Just be sure to shop around for the best interest rate that you can find, and look for a lender that has a good repayment policy. The last thing that you want is to be paying off your student loan for years to come.

6. Sell unused items

Believe it or not, a lot of students have things that they don’t really use anymore – including clothes, electronics, jewelry, sports equipment, furniture, and more. If you have things around the house that are just taking up space, sell them on eBay or Craigslist to make some extra cash.

7. Cut back on your expenses

One of the best things that you can do to raise money for college is to spend less money. This means eating out less, canceling unnecessary subscriptions, and brown-bagging your lunches instead of buying them. It also means being more mindful about your spending and avoiding impulse buys.

8. Seek help from friends and family

If you’re short on cash, don’t be afraid to ask for help. People who love and care about you will likely be happy to assist you in any way that they can. Keep the lines of communication open with your loved ones, and don’t hesitate to ask them if they might know of any resources or grant programs that you could apply for.

9. Apply for work-study

Work-study is a federally-funded program that allows students to work part-time while they’re still in school. This can be a great way to make some extra money, and it also gives you valuable work experience that can help you land a job after graduation.

Actually, most work-study jobs are simple enough that you can do them in your spare time, so this is a really easy way to make some additional money.

10. Look into crowdfunding

Crowdfunding is a relatively new concept that’s been gaining popularity over the last few years. In essence, it works by having people from all over the world donate money to a specific project or cause.

Crowdfunding can be a great way to raise money for college, especially if you have a creative or interesting project that you can promote online. Just be sure to do your research first and make sure that your campaign is realistic and achievable.

Conclusion

There are a number of different ways that you can raise money for college, and the best option for you will depend on your specific situation. Just be sure to explore all of your options before making a decision, and don’t be afraid to ask for help from friends or family members. With a little bit of effort, you should be able to raise the money to take you through college.