Funding Your College Education
You’ve decided to increase your marketability by attending a career college . But, how will you finance your career college education? While things may be tight in today’s tough economy, the end result will be worth it. According to the Government Census Bureau, career college graduates earn an average of $9230 more in their first year in the job market than their high school graduate counterparts.
It’s still scary, though, to figure out how you’re going to pay for your education while making ends-meat. Fortunately, there are ways to fund your career college education without breaking the bank.
In the fall of 2007, Congress passed the College Cost Reduction and Access Act, which set into motion a series of policies designed to help students better afford college . Also, the new $790 billion economic stimulus package signed into law in mid-February by President Obama will give a further boost to college loans and grants. This infusion of additional funds will help more students enroll and stay in school, especially those from families who have suffered economic losses, according to NASFAA.
There are a number of options available to finance your career college education. Certainly if you have parents or family members who can help you with a loan or gift, that’s a great way to go. If not, you may be eligible for Federal Pell Grants, State Cal Grants, Opportunity Grants (FSEOG), scholarships, Federal Stafford Student Loans, Federal PLUS Loans or Private Lender Alternative Loans. Also, the specific career college you’ve chosen will probably have financial aid options and counselors to walk you through the process. Take a look at all your options before making a decision.
The U.S. Department of Education’s Web site provides useful information about federal educational grant options. The following are some other sites that detail several other options for funding your career college education.
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