Raising Last Minute Money For College

Wednesday, July 8, 2020

Check out these tips on how to earn last-minute money for college.

Are you preparing to start college in the fall? Even with the current COVID-19 pandemic continuing, the Fall 2020 college semester fast approaches and many graduate high school seniors who are soon to be incoming freshmen may be wondering if there are last minute strategies for saving up more college money.

Check out some of the tips below to find out how you can put together some more money to help pay for college tuition when it comes to earning a bachelor's degree.

(1) Apply to late-deadline scholarships.

Scholarship deadlines may still be open in the summer months. Some late-deadline scholarships include the Korean American Scholarship Foundation due June 30 and the David Hudak Memorial Essay Contest for Freethinking Students of Color, due July 15.

(2) Check with your family to see if they can offer support.

Students can ask family members to help offset the cost of college. Perhaps they can look into using a 529 plan to pay for supplies and other necessities.

(3) Start learning how to budget.

Set up a budget and find ways to cut costs. Every cent matters when it comes to paying for college.

(4) Look into using crowdfunding.

You can try using sites like GoFundMe to launch a crowdfunding platform to make some more money.

(5) Consider looking for a job to help pay for college.

Students can use a part-time or summer job to help pay for expenses such as textbooks and school supplies.

(6) Ask your institution about payment plans.

Payment plans can help students pay a little bit at a time. The plans help spread costs over a longer period.

(7) Fill out the FAFSA.

You can submit FAFSA application at any point throughout the year. The later the FAFSA is completed, the less scholarship money is available, but most U.S. citizens and some non-citizens can be eligible for at least some type of financial aid.

(8) Submit an appeal to a financial aid office.

Submit an appeal letter and documentation of a specific event if your family’s ability to pay has been affected by an event such as job loss or high medical bills.

(9) Consider the possibility of enrolling in community college to save money.

Two-year community colleges can help students who do not have a lot of cash on hand. Students can take general education courses for the first two years of their college career, then transfer to the more expensive four-year colleges.

(10) Look for tax deductions.

Students or parents can get tax relief when paying for educational costs like tuition.

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