Tuition Assistance – Helping You Pay for Education

College is expensive!

•  In 2011, 44 percent of students at a four year school paid approximately $9,000 for the year, according to the College Board.
• Two year schools are considerably less. The approximate cost was $2,963 for a year, reports the College Board.
• These rates are for public schools. For private schools, you can expect to pay three times or more. According to the College Board, a private nonprofit four year college costs approximately $28,500.

Ways to Pay for Your Education

Federal Tuition Assistance (FTA)

Federal Tuition Assistance (FTA) programs are available through the military. FTA’s will pay up to $4,500 each year you are part of a degree program, certification or licensure.

You must be active duty and in good standing with your unit. You can only use it for one degree credential as well. So you can only use it to get either your associate’s bachelor’s or master’s beyond.

You have to submit your application before the start of classes. However, you can’t submit more than 90 days before the commencement of classes.

Check with your unit for information on applying.

Government Grants

The Government has many grants available for students with financial need. You can apply for grants through the grants.gov website or completing the Free Application for Federal Student Aid.

The most popular Government grants are the Pell Grant, Federal Supplemental Educational Opportunity Grant, Teacher Education Assistance for College and Higher Education Grant (TEACH Grant).

Many of the other grants offered are for majors that are in great need of employees. They are also for students with very low incomes.

Government Loans

Besides grants, you can also apply for loans. The Federal loans available are Perkins, Direct Stafford, and Direct Plus.

The Difference Between Grants and Loans

It’s important to understand the different between grants and loans. Grants do not need to be paid back, while loans do need to be paid back.

Loans will have interest attached to it but many of them will only start charging you interest after you’ve graduated.

Financial Tips to Pay for College

If you’re considering going back to school and want to save up as much money as possible before starting your degree program, you could do the following.

• Put aside a certain amount of money each month.
• Cut costs around your household as much as possible to have extra money to devote to your college fund.
• Ask your employer if they have any programs to pay for higher education.
• Look for scholarships and apply to as many as possible.
• Check with colleges to see if they have any additional financial aid you could use.

Effort Equals Rewards

The more you look for ways to pay for school, the more money you will receive. That means applying to as many grants, scholarships, and financial aid programs as possible.

It also means saving as much money as you can by budgeting and cutting costs as much as possible.

With hard work, you can start your college education to set you up for a great career that pays a great salary.

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