Paying for College

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College Payment Options

At myKlovr, we understand that the college admissions process, along with tuition fees can be a tedious and expensive task to tackle. Around two thirds of college students pay for their education with the help of a payment plan such as financial aid or scholarships. If you’re considering these options, you are not alone. That is why we have created a short list of some of the most popular and basic college payment plans and resources for families to explore. Tuition fees do not have to be set in stone. Make college affordable by beginning to learn about some of the payment alternatives that you qualify for. Below are the most affordable options to paying for college.

Scholarship

As we all know, paying for college can be more expensive than many families can immediately afford. If this is the case for you, be sure to check out that school’s scholarship options on their financial aid or admissions section of their website and apply before the given deadline. On Niche.com, you can search for scholarships that you are eligible to apply for based on your state, intended major, level of financial need, ethnicity, special interests, and intended grad year.

Tuition Payment Plan / Monthly Payment

Want to pay for college but not all at once? Many colleges offer the option of a monthly payment plan, also known as an installment plan. This allows the maximum time allowed to pay full tuition. Paying through these monthly installment plans may make it easier to pay college tuition through smaller payments instead of two or three larger ones each year. Learn more about monthly installment plans at edvisors.com.

Family Discount Program

Have a brother or sister at your desired college? Many schools have a family discount payment method. An example would be something like this: when two or more siblings from the same family are simultaneously enrolled as full-time traditional undergraduates, the second student receives a tuition discount of 10 percent from the university, as long as both continue to be enrolled. Click here to see more examples of family tuition discounts.

Free Application for Federal Student Aid

Still need help paying for college but don’t know where to go? FAFSA has $120 billion in federal grants, loans, and work-study (part time jobs) given to U.S. students each year. The purpose of FAFSA is to calculate expected financial needs for individuals going to college in order to financially assist them. Submitting the FAFSA application can potentially unlock federal resources of funding to contribute to a student’s tuition, room & board, books, and supplies. Visit FAFSA to learn more.

Student Loans

Visit comparetopschools.com to explore student loans for your individualized information and interests.

Popular loans include:

  • Direct Unsubsidized Loans – no requirement for financial need, and you are required to pay interest on your loans during school and beyond.
  • Direct PLUS Loans – available to graduate or professional students enrolled at least half time in school.
  • Perkins Loans – low-interest federal loans for students with exceptional financial need. The school is the lender.
  • Private Loans – loans granted by lenders such as a bank, credit union, or state agency.