Bridging the Gap between Scholarships, Grants, and Part Time Jobs
It’s hard to believe that the kids are all grown up and off to college already. It’s even harder to believe the number on those college price tags…
Amid all the excitement and hype that goes along with your child’s college search and upcoming high school graduation, it’s crucial to sit down with them and go over that big college price tag together. Whether you’re footing the bill or providing sound guidance, both you and your child should be financially prepared for when that big college tuition bill arrives in the mail.
Being financially prepared for college will give your child’s mind the freedom to take on the world—at least the world of their college campus for now—instead of constantly stressing about tuition bills. Unfortunately, most normal, hard-working people cannot simply just afford to write a big fat check for tuition, so students and their families 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.
But for some students and their families—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 those 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 those 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 students and families will have many options when searching for funding for college to find the best loan plans for their specific circumstances. You can search for a private student loan that fits your needs on a site like SimpleTuition. Tell them exactly how much you need to borrow, which school your child will be attending, and they’ll show you an array of an options to help fill that gap.
When you’ve helped your child take control of their college finances, then they can be ready to take on all the other challenges a college tuition pays for.
Best of luck planning for your child’s bright future!
-The Cappex Team