Back in his State of the Union address, President Obama spoke about the need for our country to make it easier on young people to get a good education that positions them for success. He also mentioned how many students today leave college saddled with huge debt loads from student loans. Today it is more important than ever that we find new and creative ways to fund college education.
The Internet has enabled us to communicate with people worldwide and it has evolved into a forum for many types of crowd-funding. This is just one of many creative ways to pay for college that are being used today.
Hopefully we never feel as desperate as a parent described in this Money on MSN article:
Find out what's happening in Westfieldwith free, real-time updates from Patch.
"Just how desperate are people getting about saving for college? Earlier this year, an anonymous parent in the Boston area posted an ad on Craigslist offering to sell his body parts to pay for his kids' $200,000 worth of student loans. ‘Use my body for anything legal, or medically experimental,’ read the post, which has since been taken down. ‘Simply pay off all of my children's loans and you can use me anyway you need.’"
Here are a few more reasonable, yet still creative ways, that you might consider when you begin your search for ways to finance college.
Find out what's happening in Westfieldwith free, real-time updates from Patch.
Consider a Co-Op Program
This is a way for students to gain valuable work experience in their field of study while earning a salary that can help pay for tuition. Students spend their first year in school meeting with employers approved by the school to negotiate the terms of the job and salary.
Become A University Employee
Many universities offer their employees free tuition so a visit to the employment office at the schools you are considering could lead to a job. That job could mean that you could leave school with a degree and debt-free.
Commit To A Cause
You could choose to postpone your college plans and join an organization such as Ameri-Corps which is home to many non-profit groups including Habitat For Humanity and The American Red Cross. In exchange for a 1,700 hour (10 month) commitment you will earn about $11,000 in salary and a $5,500 college scholarship.
Start A Small Business
Today it is easier than ever to harness the power of the Internet's worldwide audience and start an online business you could run from your dorm room. If you are creative you could use a site like Etsy to market your creations. If you write well, many content creation companies need writers. Your level of success will depend on the amount of time you can devote to it while also maintaining good grades.
The creative ways to pay for college that people are discovering today will pave the way for the next generation of students.
Propose a Radical Idea
When tuition at the University of California, Riverside jumped nearly 18% last year, a group of students joined together to form FixUC in an effort to make college more affordable.
Their innovative idea: Let students go to college for free, and in return they will agree to pay the university 5% of their income for the next 20 years. Students are meeting with the UC system president this month to review the plan.
