//3 Common Ways to Pay for College

If finding the money to pay for college seems harder than your chemistry homework, we have some good news: financial help is available!

Check out these three options that many students use to secure financial aid:

Find the free money (aka scholarships)
A scholarship is money that you don’t need to pay back. It can come from the government or a private entity. Don’t have the greatest grades? Don’t worry, they’re offered for a variety of other achievements and talents as well.

The IOU method (aka student loans)
Both the government and private financial institutions offer education loans. Federal loans tend to be more popular because of their low interest rates, different repayment options, and are easier to get.

► Scholarly tip: Visit Studentaid.gov to apply for federal loans and scholarships.

Need-based assistance (aka grants)
Grants are like scholarships; they don’t need to be paid back. However, they’re usually only available to students who have the greatest financial need.

Other ways to cut college costs:

  • Live at home
  • Get a part-time job
  • Attend community college
  • Don’t own a car

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