College students have a multitude of exciting opportunities at their fingertips during their educational experience. Studying abroad, joining clubs and other extra curricular activities, and making friendships that can often last a lifetime are just a few options that college co-eds often enjoy.
Learning about Other Cultures
Studying abroad is a very exciting and enriching program that offers students the opportunity to learn more about other cultures while living in faraway countries. Communication skills, language studies, and diversity are just a few things that can be learned and perfected while living in the heart of another culture, which can often result in more marketability when looking for a career path. However, getting the cash to pay for these experiences can seem difficult.
Grants Are the Best Option for Those Who Qualify
Those who qualify for student grants and scholarships should select this option, as these do not have to be paid back. The Rotary Foundation has a program called Ambassadorial Scholarships, which provide money to students who are studying abroad. Any funding should be started at least a year prior to the anticipated date of departure, as these can take awhile to process.
Studying and Working Abroad
Federally funded loans can also be used to pay for studying abroad, as long as the college or university is listed on the Federal School Code list, available through the U.S. Department of Education. Private loans can typically be used for these expenses as well, since the student will be enrolled in classes and is using the experience as education. Some students elect to seek internships in foreign countries, which provide excellent work experience and even may result in some income.
Costs Continue to Increase
This year, college students can expect to pay the highest costs towards tuition, housing, and textbooks than students in the past decade. This can be attributed to an economic recession, which leads to increase in tuition as well as higher cost of living and rent. Those who have to take out loans to pay for education may be wary of doing so, since the job market is limited and obtaining the funds to repay the loans might be tough in the coming years. There are options to cut costs while studying, such as renting textbooks instead of buying them each semester or purchasing and downloading electronic books to save on printing costs.
Paying the Bills
For students who are working and need a little extra to make ends meet one month, payday installment loans are a great option. Choosing this method of borrowing money results in a quick turnaround and funds are in the bank quickly for emergency costs.
Expensive but Worthwhile
College is a great way to gain education and life experience, but it can be very expensive for students footing their own bills. Choosing options that provide more money with lower interest or no requirement to pay the money back can be very beneficial.