In a couple months thousands of college students will return to campus and they’ll likely take out thousands of dollars in student loans. The typical college grad enters the workforce with just under $30,000 in student loan debt but there are endless opportunities out there for students to capitalize on paying to earn that degree. That’s why we’re looking into ways to save through scholarships and how students can tap into thousands of dollars in free money.
“We know that the process can be intimidating and so we want them to know what scholarships and what scholarship opportunities can look like.” Kenton Hargis is the Director of Admissions at the University of Evansville he knows paying for higher education is a hot bed issue. For most students earning a degree takes four years but the the amount of debt occurred in that short time can last what seems like a lifetime. Student loans can only be deferred so long and with thousands in free money why would you want to go more in debt?
We’re talking scholarships, it’s money you don t want to miss out on, “Websites like Fastweb.com or Finaid.com, these are opportunities for students to apply for scholarships against students all over America but these scholarships can typically stack on top of scholarships they’re getting from the institution they ultimately choose to attend.”
Last year UE offered a scholarship package to incoming freshman just under 30-thousand dollars. Where you go to school is not the only place to look for scholarship opportunities. Where you live is another great avenue for finding scholarships, “This is through where parents might work on a daily basis or through local retail stores or insurance companies,” said Hargis.
A lot of times getting a scholarship is as easy as applying. Believe it or not Wells Fargo has a $5,000 dollar scholarship that’s simply luck of the draw. Anyone 14 or older and all undergrad students can apply. 12-lucky people are awarded the $5,000 every year to put toward college expenses.
Outside of scholarships, equally if not more important, filing a FAFSA. That is free federal student aid and another major source of money that can cut down on loan debt in the long run.