How Students Earn money: How To Pay For College

Scholarships, Loans, and Students Jobs

Higher education is important in our modern society. 

Many people work hard to get admission to their dream college in order to get a degree, but not all of them can make it happen! Admission fees, cost of tuition for college, and all related expenses are prevented many from enrolling in a good university. Here are some of the ways to arrange funds for completing a degree.

Student Scholarships

It is a convenient yet popular way to pay for a degree program. For example:

•  Sports, Merit-based or Targeted Scholarships.
• Fellowships (Scholarships offered by independent and international firms).
• Bursaries (Student grants bursaries) that are given only on a need basis. The student does not need to repay them. But there are specific criteria like low financial condition, to be eligible for the same. The value of this scholarship generally varies as per different nations.

If we talk about Europe, then it ranges between 150 EUR to 1000 EUR per month. In the US, these are also known as federal grants. It can be availed by the student who has enrolled for a 4-years of degree course from any vocational school, community college, or a university.

Sports Scholarships

A student can be eligible for sports or athletic scholarships to complete high school, university, or college degree. Many countries, like the UK, the US, New Zealand, and Canada, are offering educational scholarships from sports. Few people benefit from it and many students need help with the application process. Thus, negotiating an athletic scholarship offer may require the help of a third party.

Some young personalities already had completed their sports scholarships in the US to get an education!

Juan Hurtado: He is a golf player from Venezuela and completed his degree from Hannibal LaGrange University.

Katie Dyson: She is a UK-based tennis player who completed her studies at Rollins college under a sports scholarship.

Javier Gonzalez: He is a Spanish footballer. He had completed his study under the sports scholarship quota from Wilson College.

Students finance is an office of the UK department of education providing aids for students. Apply for student finance to get loans and maintenance grants. Respect student finance deadline to make sure they will accept your application. Student finance repayment considers different factors like the amount of money you make and the repayment plan you choose.

What are the Benefits of Scholarships?

The best fact about the scholarship is one does not need to repay it. But to be eligible for it, a student has to be an excellent achiever in artistic, athletic, or academic performance. Some scholarships also belong to members of ethnic, cultural, religious, and minority groups. And, some for hobbyists or residents belonging to a particular location.

Every student must know about all of them and try his level best to find eligibility for any type of scholarship. It has to be done before taking any admission on a degree course. No need to worry about personal backgrounds, academic focus, or talent!

There are many sources available to get funding in the form of scholarships. It includes individual donors, nonprofit groups, cultural and religious organizations, and government schools. Likewise, the government of a state also does offer financial help. It is in the form of their tuition exchange programs, scholarships, and grants.

Some educational departments also aid their residents even while they are studying outside the state. A student can apply for different grants offered by the US educational department. It is to get support for tuition fees at career schools, 4-year universities, and community colleges.

The qualifying candidate has to deal with advisers to know the total amount of money that will be provided as a scholarship. A lot of international scholarship options for students are there belonging to the Middle East, Africa, America, or Asia.

They come with some terms such as country of origin, the discipline of study, and other factors. There are many universities located in almost every developing or developed country. Most of them are offering financial help to their needed students! Next are some of the common scholarships belonging to different countries where mostly applied by the students to try their luck.

International Scholarships – List of international scholarships

To Study in New Zealand, one can try New Zealand Scholarships. For help, a student can get funding from Victoria University of Wellington, or the University of Auckland.

To study in Canada, for the Caribbean and Latin American students more than 500 short-term exchange scholarships are present. For Hong Kong students, there is the University of Toronto Foundation. For Indian and Chinese students there are centenary scholarships from the University of Alberta. Also, students of South East Asia or ASEAN members can opt for Canada-ASEAN scholarships.

To Study in the UK, for Indian students, there are British council scholarships. Also, postgraduates of Syria, Palestine, Lebanon, Jordan, and Iraq use Said Foundation Scholarships. Students from developing countries can pursue masters from the UK. It is possible with using Commonwealth Master’s Scholarships.

To Study in Australia, a student can apply for Destination Australia. It is to get government-based fellowships and scholarships. Also, Australia awards scholarships to students belonging to different countries. It is mainly for the Indo-Pacific region. One can choose USydIS or University of Sydney International Scholarships, or Macquarie University.

To study in Germany, a student can apply for DAAD scholarships. The condition is he or she must belong to eastern or central Europe, south or central America, Pacific Islands, Africa, and Asia.

To study in France, for post-graduation degrees like Ph.D. and masters, the outside students can apply for the Eiffel scholarship. Additionally, for business students, INSEAD Business School International Scholarships are there. They are mainly formed to help students in developing countries.

To Study in the US, there are journalism fellowships. They are offered primarily for the Caribbean, Latin American, Asian, and African nationals. They are Dag Hammarskjöld Journalism Fellowships. Also, some institutions of the US are helping the people belonging to the Asia-Pacific region. It is in the form of East-West Center Fellowships and Scholarships. 

Similarly, to study anywhere, Asian students can take the help of Asia Foundation Development Fellows. Korean, Chines, or Japanese can apply for UNESCO fellowships, and many more to consider!​

If you do not have the means to do all the researches on your own, you can find help to apply for a government grant here. For a small one-time fee, this company will help you speed up the process of finding the best funding resources according to your need.

Student Loans – List of student loans

A student might not be having enough financial support, nor be eligible for any scholarship program. In this case, the standard option is to apply for an education loan. For people who are unaware of it, a loan is a kind of financial support that some financial institutions or banks are offering for students.

Also, the condition is the amount taken as a loan should be paid back within a fixed time interval after graduation. In this case, the bitter truth is the fact that these loans come with interest rates. Hence, an individual needs to pay more than the principal amount taken before as a loan. 

One can save on it up to a great extent by opting for government loans offered by eligible institutions. Hence these loans have either low-interest or flat rates and can be repaid quickly. Let us do have a look at the scenarios in a few countries:

Hungary: To be eligible for a state-funded loan, the condition is the applicant needs to have permanent residence proof, refugee, or a native person. Also, the degree needs to be pursued from a recognized university, and it should be within 35 years of age.

Netherlands: You need to be a resident of the country or at least apply for a permit of residence. The age limit is 30 years and should be enrolled for a full-time degree program to be eligible for a government loan.

United States: Both the natives and foreigners here can apply for loans that cover the full cost of a degree. The international students can take the help of a co-signer as a permanent US resident to get either private or federal student loans.

United Kingdom: Both private and government student loans are available here. You need to be applied with a credited university and need a residence permit to be eligible for the same.

What are the Advantages of Loans?

A student must have a throughout research about the different types of loans and choosing the best and economical one from many! A Loan belongs to two major categories, private or federal loans!

A federal loan merely is to get funds from the government, but it does not mean that they will not include interest on repayments! But, a big benefit of them over private loans is that the rate of interest is fixed, low, and tax-deductible. It could be an ideal choice since it does not require any credit check or cosigner.

Also, a big relief would be the borrower does not need to repay at least six to nine months after completion of a graduation degree. There is a significant benefit of applying for any type of federal loan. It can be either subsidized or non-subsidized. The former one is the type of loan in which the government bears the interest of the borrower until the degree will be completed.

And in the second case, the lender will handle the same on behalf of the student! You must research thoroughly the programs, eligibility, participating institutions, and other details. All are necessary to avoid any financial issues in the future!

On the other hand, private loans are money that one can get from any credit union or a bank. Once the money is issued, the interest rates start, and these loans are fully un-subsidized. The conditions like repayment terms and interest rates are formed by the lender and can be altered at any time until the loan will be completed.

There are limited repayment options for buyers. Also, hardly flexible, and the conditions might vary depending upon the financial institutions. So, private loans must be the last option. A student can go with it at last in the process of finding the right aid for getting financial support for pursuing a degree. A student can also go with this if a federal loan has not cleared all the funds!

An Outlook on Loan Market in Different Countries

Well-education is the right of every individual or student, whether financially stable or not. Every country is supporting the students who are studying there. It is to offer some help financially as a part of their development. Let us have a quick look at the loan market of some nations popular for studies:

Loan in Germany: People here can opt for a student loan without any terms of repayment is taken for a college education. Hence, students who belong to poor financial backgrounds can take benefit from it.

Loan in Canada: Both the local and federal (via CSLP, Canada Student Loan Program) are offering loans to the students. A borrower needs to start repaying the interest while studying, so it is best if a student is doing a part-time job.

Loan in Australia: One can avail of educational loans without any interest rates from HELP, i.e. Higher Education Loan Program. The joint venture of two departments has administered it. They are ATO (Australian Taxation Authority), and DEST (Department of Education, Science, and Training).

Loan in The UK: A student can avail of the loan with the help of a local education authority. It checks the eligibility of an applicant to offer the loan that has been generally released from the Student Loans Company.

If a student is earning min L15, 000 annually then the payments of the loan are deducted from the salaries. It would be at a rate of 9% of the total annual gross of the borrower. It can be nullified if one cannot pay it within 25 years or by the age of 65 years. After all, there is no specific deadline or schedule for clearing the loan.

Loan in The US: Students who are looking for higher education from a college or university can get much help from both private and government aids. The federal loans come with an extended grace period of about half a year after completion of a degree or stopping from college.

How to Decide on a Student Loan?

In the process to choose an educational loan first, you can try for subsidized federal loans. They can help a borrower to get a grace period to clear the repayments and flexibility. The second priority should be an unsubsidized federal loan.

Since there are many affordable options as per the area, career, and study goals. The last option would be to go with a private loan since one needs to be prepared to bear strict repayment terms and high rates of interest. Also, the process requires a cosigner for the loan to get approved!

Thus, If you are having a co-signer and good credit which can help you borrow some money as per required, then you can definitely go with private loans. Again, this must be your last option after trying for all the other possible means to get the loans. 

Sometimes, students need to choose private loans. It can help a student to cover the left amount that has not been covered via both unsubsidized and subsidized federal educational loans.

An individual can check the eligibility for federal loans, grants, and work-study before applying for any private loan. One should definitely apply for federal student aid, if available!

Private Student Loans 

If we discuss some private well-known private loan lenders, then there are many to consider. But, following is a brief look at a few of them so that it can be of specific help for you to get some idea about them;

Discover Private Student Loan: They can help both graduate and undergraduate students. The best part for one to borrow some money from them is the fact that they are not charging any late or originating fees. Also, they are offering highly flexible repayment options for students who are facing hardships in their life!

CommonBond Private Student Loan: A student will get an exceptional money mentor from them as valuable customer support. It can help a student to check the eligibility for getting a loan without the need for any hard credit check as well as a co-signer.

College Ave Private Student Loan: They offer education loans to parents, graduates, and undergraduates. One can also opt for student loan refinancing with them online. The company is offering flexible repayment options with no hard credit checks. Students from other nations can try with them who have a co-signer!

Earnest Private Student Loan: It is also a good option for students to get a lending agency that offers flexible repayment options. They don’t charge any late fees with a rebate to skip a payment in a year. Many students get benefited from their more extended grace period of nine months.

Ascent Private Student Loan: They can help both types of students to borrow some money for their education purpose. It includes one who do have a co-signer and another who does not have a co-signer but an established credit! The company is offering two years of Forbearance. A student with a co-signer can choose from different in-school repayment options. It includes deferred, flat-fee, and interest-only.

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Government Scholarships – Government Student Loans

Most of the countries today are offering financial assistance not only to their resident students but also to foreigners. Among them the most common is how the UK and US governments are helping the students financially;

United States: There is a student loan program directly from the US department of education. It is known as the William D. Ford loan or federal direct loan program. One can choose from four different types. It includes direct consolidation, direct PLUS, direct un-subsidized, and direct subsidized loans. You can also get help from the education loan center.

The federal government is offering many scholarship options with grant programs. It ranges from a certain amount to the full amount of student fees. It can be awarded by a federal agency, any firm that works with the federal government, or directly by an academic institution.

Many colleges and states use FAFSA to provide financial aids. FAFSA stands for Free Application for Federal Student Aid, once you fill out the form you can apply for loans, work-study funds, and grants across The US. It is recommended to create your FSA id first in order to sign electronically for FAFSA and have access to websites providing federal student aids. Find more information on the official website of The United States government for federal student aids.    

United Kingdom: The grants or loans in the UK are handled by the Student Loans Company that works under the government. It has been partnered with many other agencies and universities. Students who need financial help in post-graduation, training courses, and graduation can take its help to manage funds!

Not only for the natives, but the UK government also supports the students from other countries as well. Many students from abroad want to study there with financial support in the form of educational scholarships. One can check more details and eligibility at the UKCISA official website.

Student Jobs – List of jobs for students

One suitable option to get the necessary finance to pursue a degree program is to do a part-time job. So, we can say, earn, and pay from it to learn! Whether you choose to study in your country or abroad, there are openings you can benefit from. 

Students who live abroad can get a residence permit, and hence they can work there without any issues. It is a bit hectic to balance both education and job, but if done well, it can help one also to bear the expenses of food and accommodations there! 

Now the big question is what job to do! It is because almost all types of jobs need graduation as the minimum requirement! The answer is to use the Online Money Making Job. Yes, there are many suitable platforms on the World Wide Web.

They offer home-based money-making jobs not only for entrepreneurs, or retired persons but also to the students. It is of great help for one who wants to get the financial backup to their studies! All it requires is hard work, self-discipline, and commitment. There are many opportunities out there! It is only upon how people engage themselves and try with something smarter approach to gain knowledge, skills, and money!

Sitting jobs

If you are good at handling and managing everything related to children or seniors, then you can make money by helping them.

The same thing applies to dogs, cats, and, all kinds of Pets. It’s possible to earn $1000 per month with dog walking depending on your dedication and the type of client you choose.

• Rover, dog sitting jobs & pets grooming
• Care, various sitting jobs 
• HomeSittingJob, house sitters & homeowner
• Housecarers, pets & houses & more

Make money freelancing

For any student, freelancing can be a good choice to make extra money. Maybe you are good at writing, photo editing, social media, or else. Monetize any skill that you have by offering gigs on freelance platforms. For example, some people are willing to pay someone to manage a Facebook account for their business. 

• Fiverr
• Upwork
• Seoclerks
• Freelancer
• Start freelancing

Online data entry

You may be good at typing or maybe you just love writing on a computer. Why don’t you find the best data entry jobs from home to make a living with your skill? Since companies are trying to establish an online presence, there are more opportunities in finding a job where you require to input data into a computer: 

• Find various work from home data entry jobs
• Shopify data science and engineering 
• Remote transcriptionnist job
• Transcribing job

Become an online English tutor

If you are a bright student then why not make money by helping others in their studies. By the way today almost all the parents need a tutor for their children. The demand can be either to teach them personally or in a class. Some companies require a degree or experience but there are companies that enjoy working with students. For example, teach English online with open English and ​reading assessment on literably. Find more information on our blog here.

Find internships online

As you progress at college, the time is coming to get some experience at the workplace. Applying for an internship program can be intimidating and it is one of the most important steps in your career. Visit our blog post to learn more.

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