C2C: Paying for College

on August 1, 2017

It’s never too early to start thinking about paying for college. One of the easiest ways you can offset the cost of higher education is with scholarships, which are free money that can be used toward tuition, room and board and other college costs. For this week’s Couch 2 College challenge, you need to apply for the $1,000 Cappex Easy College Money Scholarship.

 

Below you’ll find ways to pay for college:

 

Scholarships

 

Whether you’re left handed or an equestrian star, there’s a scholarship for you. In fact, there probably are several. In addition to searching for scholarships on your own, you can fill out your Cappex profile to be matched with scholarships you’re eligible for. Cappex breaks down how easy a scholarship is to apply for and how much competition there is for the scholarship, as well as what you need to do to apply.

 

Scholarships are one of the best ways to pay for college because a scholarship is free money you don’t have to pay back. Beware, though, that scholarship scams exist. You never should pay money to search for scholarships or to apply for a scholarship.

 

Grants

 

The main difference between grants and scholarships is that grants are need-based aid. They go to students whose financial situations might otherwise prevent them from attending college. The Federal Pell Grant is one example of grants that help low-income students attend college. To apply for need-based grants like the Pell Grant, you must file the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov.

 

Loans

 

Loans are a very common way many people pay for college, with more than two-thirds of college students graduating with student loan debt. The money students and their parents borrow to pay for college must be paid back, often with interest. There also are different types of loans. Some people pay for college using federal student loans while others opt for private student loans. If you want to save money on student loans, you should borrow less, shop around for the best interest rate and choose a repayment plan with the highest monthly payment you can afford.

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