College is a big bill to cover, and sometimes it's hard to cover the whole thing.
Even after you've filed the FAFSA and received federal, state, private and school financial aid,
you may still have a gap between the total cost of school and what your aid covers.
Here are the Knowl's 7 ways to help fill the gap between what your financial aid covers
and what you owe.
Appeal the financial aid offer.
Sometimes your FAFSA may not explain your entire financial story. Job loss, divorce or large expenses,
such as medical bills, can impact your ability to pay for college,
but might not show up on your FAFSA.
If that's the case, contact your financial aid office and explain your situation. It never hurts to ask.
Consider loans.
If you haven't already, you may consider investigating your student loan options.
Remember, there are two types of student loans:
federal student loans and private loans.
Federal loans tend to provide lower or fixed rates and more flexible repayment options.
Your financial aid office can help you explore your options.
Cut costs.
Are there still some costs you can trim from your budget?
Do you need to live on campus or buy a full meal plan?
Can you buy your books used?
Every dollar matters, so take a hard look at your total college expenses...
and find ways to cut back.
Employer assistance.
Some employers provide financial help for college in exchange for earning good grades
or committing to working at your job for a certain period of time.
Out of pocket contributions.
Can you contribute any of your own cash?
Can more of your job income go to college costs?
If you've been putting money aside for school,
now's the time to use it.
Sign up for a payment plan.
Your school may have payment plans available to help spread the cost of school across the term...
so you don't have to pay it all in one lump sum.
And finally, look for scholarships.
It might be too late this year for scholarships, but it's smart to keep checking on a regular basis.
In fact, there are certain scholarships that are designed to help students cover the gap...
...between their financial aid and their costs.
As always, if you need any more ideas to cover the gap,
check with your school's financial aid office.
They are there to help.