Paying for Your Education

A college education comes at a hefty price but with a little planning and effort, you may be able to secure some financial assistance to help offset your expenses. There are many ways to generate the money you require as you look forward to choosing from the hospitality jobs that intrigue you.

  • Scholarships
    Scholarships are a common way to meet some of your tuition obligations and are a good route to consider because scholarships do not have to be paid back. Check the institution you hope to attend to see what scholarships are available, and look for scholarship opportunities in your local community or place of work. See whether any organizations to which you belong offer a scholarship. You may be able to find a book in an area library about financial aid and other scholarships for which you may qualify. Once you’ve looked locally, check for national options, too, such as the Coca-Cola Scholars Foundation or National Merit Scholarship Corporation.
  • Federal Assistance
    Apply for federal student aid even if you think you might not qualify. Many universities refer applicants to the Free Application for Federal Student Aid, or FAFSA , as a source for aid. Complete this application as soon as you can after it becomes available because the money is offered on a first-come, first-served basis.

Look into federal student loan options as well. The terms and benefits are frequently better than what you may be able to obtain from a private student loan, according to

  • Start Saving Now
    College costs have gone up, and will likely continue doing so, according to Start saving now to have money to put toward your college expenses.
  • Less Common Options
    Your employer may have a tuition assistance program. Check to see what options may be available to you and what conditions may apply to your use of that money.

Students are also turning to relatives other than parents to help fund their education. For example, Darrell Canby of Canby Financial Advisors wrote in another article by, “Grandparents can gift money to ‘529 accounts’ without having the same restrictions on gift tax that you would have on other types of financial gifts.”

Last Updated: 09/18/2014


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