4 Ways to Pay for Your Degree Without Getting a Job

As if college itself wasn’t stressful enough, nothing can weigh on the mind like crushing loan debt. Having a job to alleviate some of that financial pressure would be nice, but when you’re an architecture student studying 30 hours a day, where will you find the time for a regular job?

Luckily, there are plenty of ways for you to earn some supplemental income while you’re contributing the majority of your time to your studies.

Selling Unused Clothes

This plan sounds quite tedious, and it can be if not executed properly. Sorting through your clothes is exceedingly mundane, even when it’s just to put them away during the laundry process.

And remember, you have to make time to study, so you can’t waste any of it separating old clothes from the rest. You need an efficient way to market the clothes you know you can get rid of, and that people would want to buy.

Image by Nikolay Frolochkin

Utilizing social media is an effective way to market your clothing, as well as set up and close sales. All it takes is a little legwork. Take a picture or two of the article of clothing and post that picture to a group in Facebook, direct message it to people you think would be interested in it, or post it on Instagram using the #ShopMyCloset hashtag.

And if you don’t have the time to sit down one afternoon and sort through all of your clothes, kill two birds with one stone. When you’re doing your laundry (your clothes have to be cleaned eventually), pay attention to what clothes are left sitting dormant in your closet and drawers.

More often than not, these are clothes that don’t fit you anymore, or that you’ve simply forgotten about. No matter the reason, they would be much more useful in the hands (or on the body) of a person who would actually wear them.

Volunteering for Scientific Studies

This is the method that is most likely to net you the highest amount of money in the shortest amount of time. Research institutions all over the country are constantly looking for test subjects to take part in experiments for new drugs, studying diseases and even sleep studies.

For as much as thousands of dollars at a time, you could offer your body and health in a variety of ways, such as battling the flu, lying down in bed or donating bodily fluids.

You can participate in experiments that allow doctors and medical students to understand how our bodies fight diseases, and others that allow them to observe sleep patterns. No matter the experiment, most researchers are more than willing to fork out some extra cash to keep them from having to become the experiment subject.

If you don’t really mind being a lab rat, go ahead and take the money!

Selling Your Car

Before you say it, no, this isn’t a suggestion that you sell whatever car you have right now. Obviously, if you need a car in order to function, you should have a car.

But you don’t have to have a nice car. An easy way to raise money that could be dedicated to paying for school is to sell a classic or vintage automobile.

There are many models made before 1971 that have market values in excess of $19,700 today. The 1967 Pontiac Firebird Trans Am in particular would rake in an incredible $136,000 in 2016.

Sure, you look pretty sweet cruising around town in a classic ride. But you know what’s even sweeter? Relief from $100,000 in student loan debt.

Tutoring

You’re already studying anyway, so you might as well teach other people how to become better students, especially if their particular struggle is in a class you passed with ease.

College students will be very willing to pay you to help them pass a test, write a long essay or even improve their overall grade in a crucial class.

Your hours can be whatever you want them to be, and there are no contracts or limitations to how much your workload can be from month to month. If you know everything about the SAT, ACT, and subject tests, then you can help future college students as well!

The best part is that the better you are at tutoring, the more referrals you’ll get, thus increasing your earning potential. You’re basically getting paid to study, and help others get better at studying. You never know, you might even help your own grades at the same time!

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Other Ways to Pay for College Besides Loans and Scholarships

Most parents rely on loans and scholarships in order to manage their child’s education expenses. In reality, there are other options, but few people are aware of them. Therefore, this article can help to highlight some of the options that can be beneficial for you. It can be useful if you’re looking for options to pay off college debt without complicating your financial situation.

Here are some of the effective tips to pay off your college debt without relying on student loan or financial aid:

1. Stocks- Beneficial for your college savings portfolio: Tuition costs are incessantly increasing, faster than inflation. Therefore, stocks are considered to be the best way to save enough for the long term. You can start saving today to secure the educational future of your child. Therefore, parents can save money for a child who is approaching college age. You can effortlessly shelter your returns by switching your money into more bonds and cash. Once the bonds are matured, you can pay for college expenses with ease.

2. Section 529 Plans: Can be an effective solution to your problem:

Section 529 plans are popularly known as the Qualified Tuition Programs (QTP). This plan is considered to be the best option for saving for your children’s college education. You can effortlessly use your savings to pay off your educational loans without relying on additional loans or other financial aid programs. Prepaid tuition plans and college savings plans are two types of programs under section 529 plans. When you opt into prepaid tuition plans, you lock in future tuition rates at in-state public colleges at current prices. It’s usually guaranteed by the state. However, college savings plans are not rigid and do not offer a guarantee.

3. Savings Social Networking Programs: Social networking sites encourage friends as well as family to contribute to a child’s college education. Some programs are designed for the donor like updates on the child's academic progress. Therefore, the contribution of the donor can be used to encourage the student to get good grades and succeed in school.

4. College Savings Bank: The CollegeSure CD is an FDIC-insured certificate of deposit that is aimed for the purpose to manage college expenses. This certificate is offered by a college savings bank. The interest on this CollegeSure certificate of deposit is similar to other CDs. The interest percentage is fixed for average college costs at maturity. Once a CollegeSure CD has matured, the family can use the principal and accumulated interest to pay off college expenses.

5. Education Bond Program: Interest on certain savings bonds is tax free with the help of the Education Bond Program. Therefore, when you redeem bonds to manage higher education expenses, these savings are tax free.

Keep the above mentioned options when you’re planning to manage higher education expenses and want to use more than just loan and scholarship programs.  

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Deciding on a College

College admission letters will be rolling in soon, and a lot of lucky high school seniors will be ripping open their acceptance letters from a variety of schools. Many will also have to open up a few rejection letters as well. No matter your situation, you still have to answer one very important question: Which school will fit your needs the best? To figure that out, there are several important things you will want to look at first.

You will definitely want to choose a school that you could see yourself being happy at. The things you have to consider when applying to schools are different from what you have to take into account when committing to a school.

Cost: Will it be Worth It?

One of the most important things you should look at before deciding to attend a school is how much it costs to attend, and if you can afford it or not. You should lay out your college payment plan and compare the prices of different schools, and see how they fit your financial status. If you have applied to a wide spectrum of schools that are distinguished from one another, it may be best for

you to spend more. However, if the schools have little differences then you may want to pick the one that has the better price.

Remember to factor in that most schools require freshmen to sign up for meal plans, and reside on campus. This can definitely add sway when really narrowing down your choices to one or two schools. Also keep in mind that costs add up over the years, and your initial costs of starting school could end up doubling. 

Quality of Life: Will You Be Happy?

You should also list the most prominent details/features of each school, and compare each college using pros and cons.

Visualizing everything you deem important, seeing it organized on paper, will assist you in coming to a more solid conclusion.

Experts say that students should visit their top three picks multiple times to get a feel for what life on campus is like there. Going back as an admitted student could change your perspective on things if you have already gone on a tour of the school before. Most people who visit schools pay attention to a lot more things than they originally did when just going on a tour. It is also worth it to arrange a meeting with a professor in the same department that you would like to study in. If you have chosen a school that has a wide variety of majors, programs and degrees then chances are you will be able to remain at that school once you narrow down the career path you want to follow.

Campus Life: Will You Also Have Some Fun?

The size and location of a school should also play an important role in your decision process of choosing a school to go to. It is considered okay to base your decision on location if the schools you are deciding between have similar academic quality. Sometimes factors such as the weather of the location you want to choose or the campus you liked the best can be deciding factors. It is said that people can greatly benefit from attending a college with an urban campus where they are not completely immersed in college life. This allows them to experience other corners of life and gain much more experience than one could in a small town.

Social life can become a very important factor when deciding on a school. It is only natural to think about how you may fit in and if you feel you will belong. Considering the social aspects is important because you will most likely live there for several years. So when making your list you should try to think about important social dimensions. Which schools have clubs, associations, or honor societies that meet with your interests? You may want to consider looking into different recreational activities that the different schools offer. Whether they are sports- or artistically-driven, finding interests that are common between you and the student body is essential for your decision. Students often perform better academically and socially in environments that fits with their social preferences and personality.

Keeping these aspects in mind, don’t forget to breathe. Yes, this is a big decision, but it’s also an exciting one. Maybe you got into the school of your dreams. Maybe you didn’t. The important this to remember though, is that if take the time to research, you will most likely end up at a school which meets all of your needs, making your college experience a success.

Angie Picardo is a staff writer for NerdWallet. Her mission is to help consumers stay financially savvy, and save some money with a Levi’s promo code.

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Paying for Your Child's College Expenses

For parents, there are few prouder moments than the moment when they send their child off to college. However, parents are often confused about what their financial responsibilities are once their kids go off to school. While many parents do agree to pay for tuition, at least as far as what loans, grants, and scholarships will not cover, there are many conflicting opinions as to whether or not parents should provide for other expenses and, if so, how much they should provide. The choice is ultimately up to you and your family, no one else can make it for you, but there are pros and cons to both sides.  

Just Food and Necessities

 

Some parents are willing to help out their kids, but only so far as their basic necessities are concerned. Many moms and dads agree to pay for food, toiletries, books, and other must-have items for their children. Outside of this, however, the kids are on their own. If they want to guzzle beers or rush a fraternity or sorority, they're on the hook for that money--their “fun money.” Many parents like that this method teaches their child some responsibility without leaving him or her completely without help. It can also severely limit the amount of time your young student spends partying and not studying. Others, however, argue, that it can ruin the college experience. It's no fun to be the one student who can't afford to go out. Talk with your spouse, partner, or even your child about this option and whether or not it will work for you.

You're On Your Own

For some parents, a kid is no longer a kid once he or she leaves the house and strikes out on his or her own. Though this may seem harsh, many parents who no longer support their children or provide them with money find that their children grow greatly in terms of responsibility and are more appreciative of their upbringing and proud of their accomplishments. However, working your way through college is certainly not easy, and students who are forced to work often end up with less time to devote to their studies and may make lower grades than their peers. If you believe that college is all about learning, growing, and experiencing, know that you could severely limit these opportunities for your child if you make them work for every last penny.

 

A Free Ride

 

On the opposite extreme, you have parents who provide for every single need (and want) that their children have. While some parents would never dream of doing anything else, this is not highly recommended. Students who have everything they want handed to them often don't learn the value of hard work. Sometimes, this passes over into the classroom, with these students doing minimal work and still expecting excellent grades. These students may also take advantage of their parents' “kindness” and party on their dime. Students who are fully provided for are also very unlikely to get a job, which can hinder future work opportunities and keep them from learning the value and importance of responsibility.

 

A Happy Medium

 

The vast majority of parents aren't going to go all-or-nothing with their children. For most, a happy medium is what it's all about. This tends to be a wise decision, since it shows children that you still love for and care about them but also that they need to love and care for themselves.

This article was composed by Ty Whitworth for the team at kelcreditrepair.com; they have loads of local credit repair services. Check out the advice of Craig Lynd to learn more.

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