Bridging the Gap Between Scholarships, Grants & Part Time Jobs
Congratulations! You’re another year closer to completing your degree and you have the summer at your fingertips.
Now that you have some time to relax and look back on your time in college so far, you can evaluate some of the more challenging aspects of being an independent adult. While it’s thrilling to finally be in charge of your life—eat what you want, sleep when you want, and come home when you want—the responsibilities of being on your own can be a burden. We’re not talking about the burden of what choosing between Mac N’ Cheese or Ramen, we’re talking about the big responsibilities when it comes to taking care of yourself, and you can’t take care of yourself if you’re not financially prepared.
Yes, college has probably been the time of your life, but it comes with a huge price tag. Literally. Tuition is crazy high! You may have the brains to ace that organic chemistry exam, but do you have the foresight to make sure you can continue paying your tuition on top of basic living expenses?
Being financially equipped in your time during college will relax your nerves and give your mind and body the freedom to take on the world. Instead of freaking out about paying your tuition bill, you can freak out about that 20-page geology paper. You’re probably asking, “How would a college student go about becoming financially prepared to pay tuition and basic life expenses?” Great question! Since, most normal, hard-working human beings cannot simply just afford to write a big fat check for tuition, they apply for scholarships and grants—money that does not have to be repaid—and federal student loans—low-interest loans with flexible repayment terms and favorable interest rates. On top of these, many college students take on part-time jobs to earn an income while making their way through school. Since you’ve already spent some time in college, you’ve probably already done these things.
But for some students—and by ‘some’ we mean ‘a lot’—there’s still a gap between all those efforts mentioned above and what they actually need. Sometimes all of your scholarships, grants, federal student loans and part-time job money only go so far, and there’s still so much more you’re required to pay. When this is the case, private student loans can supplement your other efforts and be that extra piece that completes the puzzle.
Private student loans are offered by banks and other financial institutions, from national lenders to local banks and credit unions, so you will have many options when searching for funding for college to find the best loan plans for your specific circumstances. You can search for a private student loan that fits your needs on a site like Simple Tuition. Tell them exactly how much you need to borrow, which college you attend, and they’ll show you an array of an options to help fill that gap.
Doesn’t talking about all these financial terms make you feel even more independent already? When you’ve taken control of your college career and your college finances are in order, you’re definitely ready to take on all the other challenges college tuition pays for.
Keep having a great summer!
The Cappex Team