With 74% of homeschooled students opting to enroll in college after graduation, many parents find themselves wondering how they will be able to afford the expense. The average college education costs roughly $100,000, that’s quite a chunk of change, especially when planning for multiple students futures. Graduating college with a mountain of debt is no way for our children to begin their adult lives. Read on for some tips on how to finance college with as little debt as possible.
● The first step parents should take when working with their student to finance college is to fill out a FASFA, a federal form for student financial aid to determine whether or not you qualify for government grants. State aid is also available based on grades, activities, and community involvement. Military aid is an option for students who have served or plan to serve in the military.
● Check into scholarships. Many homeschooled students are able to help finance their college educations by qualifying for scholarships. Church denominations often offer scholarships to students who have a pastoral reference. Check online or with the college of your choice for scholarships that your child may qualify for.
● Attend a free college. Yes, they do exist. At College of the Ozarks, students are required to pay room and board and work a few hours on campus, the rest of their educations are fully covered.
● Attend a community college first. Community colleges offer great student to professor ratios for a more personalized education. The campuses tend to be smaller, and are a great option for a student transitioning from homeschool to college. Community colleges cost thousands of dollars less for the same classes offered at traditional colleges.
● Take college courses while still in high school. Many community colleges open basic classes to high school juniors and seniors to help them get a head start on their college degrees. This is a great option to gradually ease your child into a college setting. The savings in doing this can add up to few thousand dollars.
● If your homeschooled student scored well on the SAT or ACT, apple for the honors program at the college they want to attend. Community colleges also offer this option. The program pays for some,if not all of the student’s tuition and fees.
● There are many employers that will help their employees out with part or all of their tuition with a promise to work for the company for a certain amount of time. The benefits may start right away in some cases, but most companies require that you work for them a year before assisting with tuition. Search the internet for a listing of companies that offer this option.
Most colleges offer free tuition to the children of their employees. I have a friend that works in financial aid at a college and all three of her children have received their college educations for free. This is an excellent option for families with multiple children.
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