5 Ways to Pay for Higher Education without Your Parents’ Money

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Written By Larious

Larious is the Executive Editor of LowkeyTech. He is a tech enthusiast and a content writer. 





Last Updated on April 10, 2019 by Larious

Your mom and dad want the best for you of course, but that doesn’t always mean paying for your college. The reality is that not all parents can afford to pay for higher education, while others believe it’s their kids’ responsibility to find finances required by the institutions.

Whether your parents don’t have enough bucks or they think it’s up to you to deal with college costs, make sure to check some of the best ways to prepare for the price you’re going to face in college.


If you truly deserve it, you might qualify for a scholarship. Depending on what college or institution you give your preference to and your scores in high school, an academic scholarship could even cover 100% degree cost. If it’s not going to work with academic scholarship right out of school, make sure to exert every effort to get one during your freshman year.

Full-Time or Part-Time Job

Many college and university students work full time during their first years of college in addition to a full-time academic schedule. No matter how hectic it may sound to you, this will provide you with an opportunity to afford college, as well as save some bucks.

Without a doubt, it’s not always possible to write your essay papers and make coffee for customers at the same time. For that reason, it is recommended to choose to work part-time as a student. There are often various work opportunities for students on campus. Ensure to search for potentially high-paying jobs.

Cut Back Your College Costs

If you’re torturing your mind with the possible ways to pay for college, adding more bucks isn’t always the best option. For instance, you might pick a more pocket-friendly college or start your academic journey at a community college and switch to a college later.

For smaller ways to minimize your academic costs, make certain to set a budget and keep track of your cash flow. Every month, check areas where you can cut back to make it easier to get by.

Lifetime Learning Credit

The so-called lifetime learning credit takes 20% of the first $10 000 that you spend on qualified education expenses. It is important to mention that the lifetime learning credit is nonrefundable, which means you don’t have to try it if you hope to get a refund someday.

Qualifying expenses usually involve fees, tuition, as well as other relevant expenses that enrolment includes. That means school equipment, supplies, and books do not qualify since they are not required to attend the institution that you have given your preference to.

In addition, you have to pay your qualified expenses directly to the school. Long story short, you can’t benefit from both credits in the same academic year, so make sure to do the math in order to figure out which one is a better option.

Finally, there is no such an opportunity to claim either credit in case your mom and dad are going to claim their child as a dependent on their tax return. In other words, you have to double-check with your parents before taking any of the steps mentioned above.

FAFSA (Free Application for Federal Student Aid)

In order to qualify for federal aid, you will be required to submit this application only. A lot of educational institutions tend to use FAFSA (Free Application for Federal Student Aid) in order to award their own aid.

To qualify for Direct Subsidized loan, Pell Grant, or Perkins loan, make sure to provide financial information of your parents even if they are not going to contribute anything. To get more detailed information about FAFSA, you are welcome to check the online guide to the FAFSA.

It can be pretty hard to realize that you’re on your own when it comes to paying for your higher education. However, there are many options that will help you get through.

What is more important, learning how to pay for university or college on your own is a superb chance to boost your financial habits. When you get your degree and step into the world of adults, these habits and skills will help you be finally successful because you know how to manage money to your best advantage.


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