Bridging the Gap between Scholarships, Grants, and Part Time Jobs

Student LoansCongratulations Class of 2012! Your hard work in high school has paid off, and you’re off to your next adventure: college.

College is not only the beginning of your higher education; it’s where you’ll embark as an independent person. It’s a time when you really learn what it means to take care of yourself and the responsibilities that come with being an adult. With all the excitement and hype of graduating, it’s still important that you grab hold of the reins of your newfound independence and make sure that you’re prepared for your first year of college. Besides being physically packed for school and mentally prepared to hustle through your coursework, are you financially prepared?

Being financially prepared for college will relax your nerves and give your mind and body the freedom to take on the world. You’re probably wondering now, “How does one exactly go about being financially prepared for college?” Great question! First, it comes down to defining what being financially prepared means. In this case, we’re talking about being able to pay your tuition on top of books and living expenses. It’s a lot of stuff, but it’s possible. Unfortunately, most normal, hard-working human beings cannot simply just afford to write a big fat check for tuition, so 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.

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’ll be attending, 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 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.

Congratulations Class of 2012, and best of luck in your bright future!

-The Cappex Team