Many parents and student athletes will be surprised to know that college tuition can be paid in very creative ways. In fact, with the national average of college tuition hovering around $34,000 per year for private colleges and $25,000 for state schools, there are a number of ways for families to relieve the burden of tuition expenses. So before going out to sign for a stack of loans take a look at 5 ways student-athletes can pay for college tuition.
- Scholarships – financial aid awards that do not need to be repaid. Scholarships are awarded for academics and athletics.
- Grants – needs based form of financial assistance that students do not repay. Grants are often awarded by information provided in the FASFA application. The Pell Grant is a good example.
- Loans – Federal student loans allows students to borrow money that must be repaid with interest. Loans are determined as “needs-based” and fulfilled at subsidized or interest free while other loans are unsubsidized meaning they accrue interest. Parents of dependent student can also apply for federal loan called the Parent Loan for Undergraduate Students (PLUS).
- Campus work study– student employment is a way to earn income and gain work experience. Federal work study is determined by student information and needs determined from the FAFSAapplication.
- Military education benefit- commonly referred to as the GI Bill, Military Tuition Assistance is a benefit of up to $45,000 eligible to active members after service members of the Army, Navy, Marines, Air Force, and Coast Guard. Congress has given each service the ability to pay up to 100% for the tuition expenses of its members.
Coach Mike oversees the recruiting of talented next-level athletes by helping families develop and implement a recruiting strategy for athletes to get exposure, evaluated and recruited. With over 20 years of experience as a coach and, as former college athlete, Mike now mentors families through the academic, athletic and financial aspects of college recruiting.
Coach Mike – Email: firstname.lastname@example.org Office: 805-622-STAR