Money Talks

With the average cost of a private college hovering at $35,000 per year and $10,000 for public colleges, a very critical factor in the back-to-school-decision is money. If you’re wondering how you’re going to foot the bill, here are some options:

Grants: More gifts than loans, grants pay a portion of your college tuition based on your income, student status, and occasionally, the particular course of study you’ve chosen.

Scholarships: These are not grants, though they are sometimes confused with grants. Scholarships can be federally or privately funded, and they affect the amount of financial aid you receive from the school you choose to attend.

Employer Funding: Your company may pay for tuition fees for an approved course of study, but be prepared to commit to a contract of extended employment in return for the funding. Other companies may require that you foot the school bill and then reimburse you only if you earn certain grades.

Student or Other Loans: Loans through an educational or financial institution can be obtained at a lower interest rate than a personal loan.