With college starting in just a month, now is the time to ensure you’re prepared to cover your first set of bills this fall. As you review your financial aid package, you may find that it doesn’t fully cover all your expenses, and you’re not alone. This is a common situation for many students. Fortunately, there are several strategies you can use to help fill the gap and feel more confident as you begin your college journey.
Consider Your College Choice
When deciding on a college, take a close look at all your options. If you’re disappointed with your financial aid offer, there are steps you can take to explore alternatives. Start by contacting the financial aid office—they may be able to make adjustments based on your personal circumstances.
You should also consider other college choices. Attending a community college or an in-state public university can significantly reduce costs. Spending a year or two at a lower-cost school before transferring to your top-choice college might delay your plans slightly, but it can make your education much more affordable in the long run.
Look for Scholarships
Throughout your college career, you can continue to search and apply for scholarships. Connect with community organizations, high schools, and local businesses to find local opportunities. Ask your preferred colleges about their scholarship options and application processes.
For Nebraska-based scholarships, use ScholarshipQuest. You can also explore national opportunities through scholarship databases listed on our website.
Understand Your Loan Options
Student loans are another option to help pay for college, but it’s important to consider all other resources first. If you decide to take out loans, borrow wisely and only what you need.
Federal student loans typically have lower interest rates and more flexible repayment options. To qualify, you must complete the Free Application for Federal Student Aid (FAFSA).
Your college may also include a Parent PLUS Loan in your financial aid offer. This loan allows a parent to borrow additional funds to help pay for their student’s education. It is in the parents’ name and their responsibility to repay.
Private student loans are also available through banks and other lenders. If you’re considering a private loan, start by speaking with your bank to understand your options and compare terms.
Find Part-Time Work
Working part time can help cover expenses such as books, living costs, and personal needs. If your financial aid offer includes work-study, you can earn money by working on campus. Be sure to ask about other campus job opportunities as well.
Off-campus jobs may also be a good fit, especially if you have reliable transportation and want experience outside of the college setting.
Working during college not only helps with expenses, but it’s also a valuable way to build skills and gain experience that can strengthen your resume.
Manage Your Living Expenses
Where you plan to live during college is a major factor in your overall expenses. Housing and food can sometimes cost more than tuition, so it’s worth exploring ways to reduce these costs.
If your top-choice college is in your hometown, consider living at home. This can save you thousands of dollars and may help you build savings for life after graduation. Many students find that staying home during college makes transitioning to the working world easier.
If your college doesn’t require students to live on campus, consider sharing an off-campus apartment with friends. Splitting rent and utilities can make living off campus much more affordable.
Final Thoughts
Facing a financial aid gap is hard, but these strategies above can help. Don’t be afraid to ask for help. Contact your nearest EducationQuest office to get FREE support.
By Alex Jurgens