How to Pay for College in 4 Easy Steps


If high school is coming to an end, you might question the next best step to take in your career. As you might have limited money in the bank, you may believe you don’t have the finances to fund a college education.

However, there is a misconception that you will need a large nest egg to earn a degree and improve your career opportunities. So don’t set your professional dreams aside and learn how to pay for college in four easy steps.

Step 1: Find an Affordable Online Degree Program

An online degree program could help you achieve your professional and academic goals without blowing your finances. It doesn’t matter if you want to become a nurse, social worker, or business consultant; you can pick an affordable online program in Michigan to gain the knowledge and skills to thrive in a role. Plus, you can choose from various flexible payment options to match your finances, so you can study and pay for a program at a time and pace that suits your needs.

Step 2: Pay for a Program with a Part- or Full-Time Job

If money is a problem, find a part- or full-time job to boost your income while studying for a college degree. As it can help you pay for a program, it will remove some of the financial pressure off your shoulders and allow you to focus your attention on your studies. While juggling an education with a job will not always feel easy, you could receive 24/7 support from online tutors and a support plan to achieve your academic goals without stress.

Step 3: Apply for a Grant

Online students are entitled to the same grants, financial aid, and loans as on-campus students. Most grants are awarded by a college, state, or federal government and are based on your financial needs. To apply for a grant, you will need to fill in the Free Application for Federal Student Aid (FAFSA) and report your income.

If an application for a grant is approved, it will be listed on the financial aid award letter, which may arrive with your college acceptance letter. You do not need to repay a grant, and you could receive an average of $5,000. If you are applying for a Federal Pell Grant, it is capped at $5,920 per year and available for families who have an annual income below $30,000.

Step 4: Consider a Loan as a Last Resort

If a part- or full-time job and/or a grant doesn’t cover all the cost of tuition, you could apply for a loan to pay the remaining fee. Most students use loans to fund 20% of their degree, but it should be a last resort when paying for an education. To secure the lowest interest rate and borrower protection, apply for a loan from the federal government over a private investor. Again, you will need to submit a FAFSA form to apply for a student loan.