Let’s face it: college costs money. Paying for your education may be a new thing to you, especially if you have been attending public school (like us).
Don’t worry! If you stick with Preppy, you’ll learn the inside secrets to keeping college cost down or even free.
In Money Talk: What’s in the Costs?, we talked about what you’ll be asked to pay for. In this Preppy lesson, you’ll learn the options to pay for your college expenses.
There are four (4) major options you can choose to pay for college.
Of course colleges will accept cash or credit payments! While it is the most desirable form of payment, most students are not able to make full cash/credit payments for college tuition and have to rely on the other ways to pay.
Grants are financial awards that do not have to be repaid. Most grants are given based on financial need and sometimes academic performance.
Unlike grants, scholarships are financial awards that are given based on grades and/or test scores, musical talent, athletic ability, or other qualification. Scholarships usually awarded via an application process. Scholarships are offered by the school, companies, communities organizations and churches.
Loans are given with the promise to pay back at a certain time. The most common loans are given by the federal government. However, banks have some college loan programs.
Thirsty for more info? We’ll dive deep into each option so you can know what’s best for you!