![]() ![]() If you can’t avoid them, make sure to consult with a financial advisor to talk about your options. ![]() If you can avoid some loans, it might be in your best interest to seek other forms of financial aid. Think about your financial situation as it stands today. On top of this, the average interest rate for undergraduate direct loans is about 4.99% and about 6.54% for graduate students. In a study conducted by the Pew Research Center, y oung college graduates with student loans are 22% more likely than those without loans to report struggling financially. However, if you’re not careful, you can find yourself paying extremely high-interest rates or even getting in trouble with your loan providers after completing your degree. Don’t Take Out Loans Right Awayįor many of us, loans seem like the easiest way to get the funds you need to get started right away. Applying early can be the best way for you to be considered one of the top candidates for a specific award.įinancial aid is well within reach- ensure you understand the best practices of securing financial aid for your degree program. Unlike grants, scholarships can be on a rolling basis but that doesn’t mean you should wait. Use online tools like and CareerOneStop to discover scholarships based on your academic interests. There are countless resources available to find scholarships for your degree program. Regardless of where you live or what you plan to study, continue to pursue all avenues using your recent accomplishments, GPA, and work experience to demonstrate why you should be selected for a scholarship. New scholarships pop up all the time and often unexpectedly. ![]() Scholarships aren’t just for a lucky few. In your conversations with your manager, make sure to highlight your commitment to the company and past accomplishments in order to make it crystal clear that you’re worth the investment. Consider submitting a formal proposal about your educational plans and discussing openly the various options you have, including the opportunity for assistance in a certificate program related to your profession such programs are popular avenues for many working professionals looking to tailor their education without the extensive money and time commitment. If your employer doesn’t have an official tuition reimbursement program, don’t give up. Many large corporations (and some small businesses) offer generous tuition assistance programs. You can also consider chatting with your company’s human resources department to determine whether your organization assists employees returning to school - and whether you might be eligible. You might benefit from scheduling a formal meeting with your supervisor to discuss your career goals and how furthering your education could bring value to your organization. Do Aim for Employer FundingĪre you going back to school at your employer’s request ? Could the skills you gain as a student make you more valuable as an employee? Employer funding may be a great option for you to explore. Will you be able to take on a full load or will you need to go part-time? Will you need to ask for employer assistance? Will you need to get a loan? All of these questions can be answered once you’ve completed the FAFSA. Plus, it can give you a better idea of where you stand financially speaking. In fact, it’s highly probable that, regardless of your income, your university will require this documentation to offer low-interest loans and even possible federal grants. While loans might not be your ideal method to pay for school, it’s still important to submit your Free Application for Federal Student Aid (FAFSA). Follow these important “dos” and “don’ts” on finding the right financial aid – without breaking the bank. ![]() With the proper guidance, you can find creative solutions and innovative ways of becoming financially capable to achieve your academic goal. Financial aid is more within reach than you think. Whether it be requesting your transcripts, getting your recommendation letters or paying for your education, the process of submitting your application can be unsettling for many prospective students.Īnd while obtaining a post-secondary degree is a great way to advance your career and enhance your skill sets, finding the right funding can oftentimes be the biggest barrier of all. Regardless of the level of degree you’re seeking, applying to school is a daunting task. ![]()
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