College is expensive. There’s no way around it. But you have your one saving grace (besides the checkbook belonging to your parents) and that would be loans. Yes, loans, hallelujah! But, guess what…. There’s something even better out there to help you with your room and board (and your pizza, lava lamps, and flip-flops).
They’re called grants.
Let’s make one thing clear about why these are even better than loans. Financial aid is a funny thing. You see, they believe that if you accept money as a ‘loan,’ that you must actually pay it all back later! Sounds funny, right? Well, that’s the way loans work. While it might be awesome to get a grand or two in the mail and use it for your tuition and other ‘good stuff,’ the ultimate price you have to pay is, well, to pay it back!
Grants are different. Why? Simply put: you don’t have to pay them back. Seriously, you don’t. That’s why they call them ‘grants.’ Like granting wishes.
Typically, grants come in the form of organizations designed to help students find the funding they need for college without having to worry about debt. It’s a form of gifting. Typically, our government handles a grant or two, and it helps pay for some money. Other non-profits, though, can offer more grants — sometimes for more money.
And the best part of all of that — you don’t have to pay back a single cent. Consider grants a gift, plain and simple.
Trust that it makes a world of difference when you end up finishing college and have to spend a couple decades paying off the whole $30,000 loan you owe in tuition costs! Shudder at the thought….
