Your future school can be one
of your most significant sources of aid next to the federal government. With
school financial aid policies and procedures, tuition payment plans, and
school-specific scholarships and fellowships, your school is a great place to
look for financial aid.
Prepaid Tuition Plans -
While these aren't exactly a type of financial aid, participating in a
prepaid tuition plan can save you tons of money towards college. The benefit of
these programs is that you are able to pay for you future education at the cost
of today's tuition. This is a bit of inflation proofing for the student. Of
course the downside of this is that you don't have the money to invest and if
you change you mind about going to the school where you have been prepaying your
money will be refunded to you without any interest.
School-Specific Scholarships and Fellowships -
There are many scholarship and fellowships that are offered only at specific
schools. Many colleges have memorial scholarships that were begun by an alumni,
or relative of an alumni, in remembrance of them, and are school specific.
Tuition Payment Plans -
Tuition payment plans are short-term installment plans that split your
tuition into equal monthly payments. This can make a seemingly impossible amount
to pay all at once a more attainable goal. These programs usually last for 12
months or less and are usually interest-free. In some programs you will have to
pay a fee or finance charges so ask about the costs to you before enrolling in a
tuition installment plan.