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It’s no secret that the cost of attending college is more than most people can afford to pay for. Many students turn to federal student loans to help fund their education. But what can someone do if they’ve already tapped out their federal student loan resources or don’t want to take on any federal loans?
Thankfully, there are a variety of resources, from scholarships to savings, available to help students. Continue reading for 14 ways to make college tuition more affordable. It may even be possible to figure out how to pay for college without loans.
Key Points
• Grants and scholarships don’t have to be repaid, and they can make a big dent in tuition costs.
• Starting at a community college and transferring later, earning college credit in high school through Advanced Placement (AP) or dual-enrollment classes, and attending an in-state public university can dramatically lower tuition and living expenses.
• Programs such as Reserve Officers’ Training Corps (ROTC) scholarships, 529 college savings plans, and family contributions can help you cover costs without relying on student loans.
• Part-time jobs, work-study programs, and paid internships can help you cover everyday expenses, reduce how much you borrow, or pay off accruing interest.
• Create a budget, explore tuition payment plans, and consider strategies such as graduating early by taking extra courses each term.
14 Ways to Make College Tuition More Affordable
The key to figuring out how to pay for college without loans or financial aid is significantly reducing the overall cost. Here are a few ways someone can make things more affordable.
1. Complete the Free Application for Federal Student Aid (FAFSA®)
Because the FAFSA is free, it’s always a good idea to apply for federal financial aid — even if you don’t think you’ll qualify. The form helps determine the type and amount of aid a student qualifies for. There is no guarantee that a student will be granted financial aid, but it’s worth applying as it could lower the overall cost of pursuing higher education.
Federal financial aid includes both need-based aid, such as Direct Subsidized Loans or Pell Grants, and non-need-based aid, such as Direct Unsubsidized Loans. After you submit the FAFSA, schools use the information to determine your financial aid package. This details the aid you qualify to receive for the school year. The FAFSA must be completed annually.
Sometimes, federal financial aid isn’t enough to allow a student to pay for the full cost of college. Keep reading for ways to lower the costs of attending college if you don’t receive enough financial aid.
2. Qualify for Merit Scholarships
Because scholarship funds don’t need to be paid back, they can be a valuable tool to help pay for school. Some scholarship opportunities are need-based, while merit-based scholarships award money to students who meet or exceed certain standards set by the person or organization issuing the scholarship. These can include academic excellence, musical talent, or athletic ability.
Merit scholarships may be available from your college or university. Contact your school’s financial aid office for information.
3. Apply for Private Scholarships
In addition to colleges, private companies, nonprofits, and other organizations, including religious groups, also offer scholarship opportunities. Both school-based and private scholarship options are worth looking into. You can find information on private scholarships from your school’s financial aid office or by using a scholarship finder.
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4. Apply for ROTC Scholarships
If someone intends to join the military, they can apply for an ROTC scholarship at a participating school. The Army, Navy, or Air Force covers up to 100% of tuition, fees, and other expenses. In return, the student commits to serving as an officer upon graduation. ROTC scholarships differ from the GI Bill, which provides education benefits to veterans and those already enrolled in the military.
5. Attend a Community College
Attending a community college before transferring to a four-year university is another option to cut tuition costs. Some community colleges offer tuition-free programs, and it may be easier to attend while living at home, which can massively reduce living expenses.
6. Earn College Credit in High School for Free
Some community colleges partner with local school districts to give high school students the opportunity to take classes for free and earn college credits early. This can decrease the cost of attending college later, especially if you can graduate early as a result. Advanced Placement classes in high school can offer a similar benefit.
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7. Ask for Family Donations
While there’s no guarantee that family members will be able or willing to help you pay for college, it may be worth asking your grandparents or other close relatives for assistance. Together, their contributions may help lighten the overall load of attending college.
8. Consider Private Student Loans
If someone does not receive enough federal student loans to fully cover their education and living expenses while in college, they can apply for private student loans. Unlike federal student loans, which are awarded based on the FAFSA, private student loans are provided by individual lenders and require their own application.
Federal student loans include benefits, such as income-driven payment plans and forgiveness options, that are not usually offered with private loans. Private student loans are also generally more expensive than federal student loans, so it is advisable to exhaust any potential federal options before applying. If you are looking into private loans, it’s important to note that a longer-term loan can mean paying more interest over the life of the loan.
9. Choose an Affordable School
Usually, attending an in-state public school is more affordable than attending an out-of-state public school. Additionally, private universities tend to be more expensive than public universities. Attending an in-state public university is likely the cheapest option, especially if a student attends community college first to complete some general education classes.
While public schools are generally more affordable than private institutions, financial aid packages can even the playing field. When evaluating colleges, be sure to look at the costs after accounting for any scholarships, grants, and other aid.
10. Work During School
It can be challenging, but if a student works part-time while enrolled in college, they can pay for some, if not all, of their costs. If they take out loans, they may be able to use their earnings to pay accrued interest, reducing their monthly payments after graduation.
11. Budget for College With Parents’ 529 Plan
A 529 plan is a tax-advantaged investment account that can be used to pay for qualifying educational costs for a beneficiary, such as a child or grandchild. A student can include these funds when working out how much of their education they can pay for. A money tracking app could help with this.
Some students may not have parents or other family members who can support their education in this way. Students figuring out how to pay for college without their parents’ help may want to focus on finding an affordable school, filling out the FAFSA, applying for private scholarships, working while in college, and using student loans wisely.
12. Complete College in Less Than Four Years
If a student works hard and can shave just one semester off their time at college, they can save a decent amount in tuition, fees, and room and board. If they can take an extra class each semester, they may be able to graduate early and save a lot of money. Another option is completing college-credit-worthy classes in high school.
13. Live Off Campus and Commute
As convenient as living on a college campus is, it can also be expensive. The cheapest option is often living at home and commuting to school. If this isn’t possible, renting an apartment or a room in a house off campus may be more affordable than living on campus. Assess the different options to see which one aligns best with your budget and circumstances.
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14. Opt for a Payment Plan
Some colleges offer tuition payment plans that distribute costs over several months. These don’t necessarily reduce expenses, but they can make it easier to pay for tuition by spreading payments out instead of requiring one upfront lump sum. This can be an especially good option for students working to pay for school.
The Takeaway
Paying for college is a big endeavor, but it can be easier if a student takes certain steps to reduce the overall cost. When figuring out how to pay for college without loans, applying for scholarships and financial aid can help.
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FAQ
What can I do if my parents won’t pay for college?
You can apply for financial aid by filling out the FAFSA, look for scholarships, take out federal or private student loans, or work your way through school. It may be challenging, but there are multiple options for financing higher education.
How can I pay for college by myself?
If you need to pay for college on your own, you should fill out the FAFSA each year to see how much financial aid you qualify for and how much federal student loan coverage you can get. If you need more money to pay for school, you may consider applying for private student loans and/or scholarships, as well as working part-time during college.
Is Sallie Mae a federal loan?
Sallie Mae student loans are no longer federal student loans. They’re a kind of private student loan.
How do I pay for college without going into debt?
It’s always a good idea to see what grants and scholarships are available, as they don’t need to be repaid. Working through college can also help pay everyday expenses and may help reduce the shortfall that needs to be covered by loans. Family donations and support may also be an option.
How do I reduce the cost of college tuition?
Attending community college or an in-state public university could lower costs. You can also consider ROTC and other scholarships. Using a budgeting app can help you see how factors such as agreeing to a tuition payment plan, living off campus, and graduating early affect what you pay for college and how you pay for it.
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