How To Pay For School Without Getting Into Deep Debt

When you think of ways to pay for college, getting a student loan probably pops into your head. Why? Because it’s the easy way to get funding for school, as opposed to looking for scholarships that are highly competitive and could have hundreds or thousands of applicants.

Well, while getting a student loan may be easy, it won’t simplify your future, as you’ll have to pay it back with interest. And even though many people get jobs after graduating college, that student loan debt can come back to haunt them to the point that they wish they never signed on the dotted line.

What’s a better alternative to funding school besides getting student loans? College grants, so let’s take a closer look at them now.

Why College Grants Are Better Than Student Loans

Both grants and loans can help pay for your studies. Grants don’t have to be paid back, though, while loans do, plus any interest that accumulated over time.

What about scholarships? Like grants, they don’t have to be paid back. But getting a scholarship can be highly competitive since they’re usually based on merit. On the other hand, grants are usually based on financial need, so if you have limited income and need cash for school, a grant could be your perfect fit.

How To Find College Grants And Other Awards

Your search for college grants should begin on the federal level. If you fill out and submit your Free Application for Federal Student Aid (FAFSA), you can show the government and schools your level of financial need.

This can open the floodgates to grants and other awards that can pay for your tuition, books, fees, housing, and more.

When filling out your FAFSA, there are several mistakes you want to avoid so you don’t run into any issues during the application process that can delay your funding. Here are some of the most common errors:

1. Procrastinating – Some financial aid is limited and distributed on a first-come, first-served basis. If you wait too long to fill out your FAFSA, you could miss out.
2. Saying you have a bachelor’s degree when you haven’t graduated – The Pell Grant is one type of federal student aid meant for undergraduate students. If you mistakenly say that you have your bachelor’s after only taking a few college courses, you could disqualify yourself from aid you’re eligible for.
3. Forgetting to list all of the schools you’re interested in – With space to list up to ten schools on your FAFSA, you should fill every spot. In doing so, you can discover more aid opportunities.
   Not asking for a special circumstances form – Your FAFSA needs to be submitted each year to continue receiving aid. If your income drops or you add a household member (like a newborn baby), that could make you eligible for more aid, so don’t forget to ask for a special circumstances form, if necessary.
4. Putting all of your eggs in one basket – Once your FAFSA is complete, search for grants and scholarships from your state. Also, contact your school’s financial aid office to see what they have to offer, plus search for special grants and scholarships for your field of study online.