Don’t Get a Student Loan: Get Free College Money Instead

With the average student ending up with more than $20,000 in student loans upon graduation, is it any wonder that students begin looking to file bankruptcy before they ever find their perfect job. However, if many of these students (or their parents) had ever spent a bit of time looking, they may have been able to get their child through college without ever spending a dime. Apply some of these ideas today, and anyone will be able to get free money for college.

Affiliate Companies

Upromise is an affiliate company that refunds money into a college fund for your child. By simply registering local grocery cards, you can earn up to 5% back on products you already purchase. Register credit cards and debit cards and you will save as much as 25% on everyday purchases like eating out, gas for your car, and even magazines.

Scholarships

Scholarships are no longer just for “Honor Students.” Nowadays, you can get them based on the state and city you live in, the college you attend, the major and minor being studied, the student’s ethnicity, and by affiliations. Here are some websites highly recommended for finding college scholarships. Try applying today to see what they can come up with for you.

1. Fastweb
2. Scholarships.com
3. CollegeBoard
4. Student Aid
5. You can also find books at your local bookstore written only about scholarships. One such book is the Fiske Guide to Colleges.

Grants

Step 1 in receiving grants is to fill out the FAFSA (Free Application for Federal Student Aid). Once done, the student will be matched to the best grants based upon need and merit. The most common grant awarded is the Pell Grant, which pays between $400-4,310. After that, be sure to visit the school’s financial aid counselor and ask to see their grant and scholarship reference book. This is often the next best place to find grants and scholarships.

Tax Deductible Savings Accounts

There are plenty of savings accounts on the market today that offer tax deductions. Among these are 529 accounts, Education IRA’s, the Coverdell ESA, and Double EE Savings Bonds. By putting as much as $2,000 dollars a year into these accounts, you can lower your income, pay less taxes, get a bigger tax refund, and make as much as 5% interest (which will nearly double your money in an 18-year period).

High School Programs

Nowadays, high schools across the country are partnering with community colleges to provide college credits for students as young as 14 years old, all on the high school’s tab. By the time your child is receiving their high school diploma, they could also be graduating your community college with an Associate’s Degree. So swing by your local high schools and community colleges and see what programs they offer today.

Spare Change

By simply saving up your spare change every day, you could easily add as much as $100 per year to your child’s college fund. Also consider asking “the grandparents” for their spare change and you will find your child’s account gaining thousands in the pre-college years.

Now that you have some ideas, start searching today for basic information and you will have your child graduating debt free in no time.