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How to Pay for Your EducationBy Joe Cooper
Learning & Life Columnist
Going back to school can be a great experience, improving your career prospects or simply enriching your life. But with the average cost of a four-year degree at a public university more than $12,000 (and almost $30,000 at a private school), it can be expensive.
Becoming a student again can give you the skills to get a better job or the outlet to help you expand your horizons, but it can be expensive. Your degree program doesn't have to break your bank, and you don't have to pay for all of it yourself. Here are 5 tips for paying for school.
- Look Online for Scholarships and Grants
Scholarship Web sites take some time to navigate, but putting in the effort can pay off. Some Web sites offer databases where over $3 billion can be found and applied for.
- Consider an Online Degree Program
Online degree programs are popular not only for their flexibility, but also their affordability. Some schools cost less than $10,000 total, and online schools offer tuition assistance too. An online degree program could be a less expensive way to get your education.
- Research Federal Aid
There is no age cutoff for Federal aid, and some Federal loans have interest rates of 5% or lower. Depending on your degree program, you may be able to qualify for a subsidized loan or grant that will help cut costs.
- Use Your Job
Many companies will support industry-related degree programs, paying up to or beyond the entire cost of tuition. Some ask you to stay with them for a certain time period beyond graduation, and if you're happy in your job, this can be a great option.
- Be Creative
Consider every option from an online degree program to borrowing small amounts from family or friends to working out a payment plan with your school. Many schools will be flexible, allowing you to pay monthly instead of all at once. School costs (tuition, books) are often tax-deductible, too.
Above all, don't let money stand in your way of getting an education because education in the long term can often pay for itself.
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About the Author
Joe Cooper is a freelance education and technology writer and edits medical literature. He holds a bachelor's in American Literature from UCLA.
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