Flickr user Pictures of Money
Saving up for their child’s education is one of the biggest stressors for parents in the U.S. It comes a close second to saving up to buy their own home. Unfortunately, despite saving as much as they can, many parents cannot afford to fund their child’s education from their own private funds, and taking loans becomes necessary. Instead of just letting their parents shoulder the financial burden of the student’s college education, look for ways to help their parents out.
Look at Scholarships
Scholarships are the best way students can get some free money towards their college education. Did you know that you could apply for all opportunities that you are eligible for and you can accept all of the awards? Additionally, you don’t have to pay scholarships back, so it’s essentially free money. This makes it worth spending as much time as possible exploring all potential avenues.
Look online, in the local newspapers, your high school notice boards, and community boards. Explore traditional merit-based scholarship, organization-sponsored ones, and even those ‘weird’ scholarships given for some of the most unusual and outlandish reasons.
When looking for scholarships, don’t ignore those smaller awards. Every dollar that you win means you will have to borrow that much less.
Take Up A Part Time Job
There is no shortage of part time jobs that you can take up to earn some money towards your college education. No matter what your skills, education or work experience, there are sure to be something that you will qualify for.
Here are a few jobs you can get started on with minimum experience:
- Tutoring in any subject that you have some expertise in
- Babysitting
- Teaching music lessons if you play an instrument
- Dog walking or pet-sitting
- Waitressing
- Taking up freelance assignments that play to your strengths as a writer, graphic designer or web developer
That’s just a few of many jobs you can take up to earn money that will help your parents pay for college. You can look up job advertisements online, keep an eye out for any hiring signs, or ask your high school if they have a job board.
Save, save, save
Most high-schoolers do not realize how much they spend on things that they could easily do without. Next time, pay attention and cut back on some of your spending. Cutting certain costs could help you put away a substantial sum that you could use to ease your parents’ financial burden. You don’t have to give up on everything but there are plenty of different ways that you can save without sacrificing too much.
Instead of spending birthday money, save it. Go to discount showings of movies. Wait for sales to buy new clothes. Make your own coffee instead of buying it. Every little bit helps, and it’s good to start garnering these thrifty skills early on.
Use College Raptor’s new Student Loan Finder to compare lenders and interest rates to find the ideal student loan—for FREE!
| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.50%-16.12%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
|
|
5.54% - 15.70% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.63% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.66% - 14.72% Variable
3.69% - 14.56% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 16.85% Variable
3.69% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
