How to Pay For College on Your Own

Whether you're going back to school as an adult or just graduating from high school, one of the biggest challenges in getting your college education is getting the money to pay for it. Many students face this challenge alone for a variety of reasons. A parent may not be able to or want to help out. An adult going back to school may be a single parent who needs to start working part-time in order to attend classes. In any case, obtaining enough financial aid to attend college can be overwhelming or even scary. Not only is it a lot of work to track down federal and private loans, scholarships and grants, it's also a huge commitment to paying back your debt after school without knowing whether you'll get a job right after you graduate.

First of all, don't panic: there are plenty of students who have come before you who have successfully paid for school all on their own. All you need to know is a few tricks for finding the best financial aid and how to use it to your advantage. The first step for any college student is filling out the Free Application for Federal Student Aid (FAFSA). This government-issued form can be found online and offers a way for students to apply for federal funding for their education. Depending on the student's level of financial need, funds are distributed accordingly.

If you're paying for school on your own, at least try to get a parent to supply their income information to help you qualify. If that's not the case, you can try to establish yourself as an independent. To do this, you must either be over the age of 24, married, supporting a dependent, homeless, in the military, a veteran, an orphan or in foster care. If you qualify as an independent, the odds of receiving financial aid are increased since your income will likely be less than that of your parents. It can also help parents to receive funds since they are already supporting their children. Check with your state about what qualifies an individual as an independent on the FAFSA.

Scholarships and grants are another good tool to use for getting financial aid for college. Unlike most students loans, these funds don't have to be repaid after graduation, so it's well worth the time it takes to search for them. There are several great databases of scholarship and grant opportunities online. You can search through these databases based on your personal financial need, your degree program or the school you plan to attend. Most students can find at least a handful of scholarships for which they qualify. Be prepared to fill out plenty of applications and possibly write a few essays when applying for scholarships or grants.

Finally, check with your school for possible financial aid options. Outside of student loans, they may provide some scholarship or grant opportunities for students based on their connection to former alumni, their degree program, their involvement in student activities or their academic standing. In any case, plan out your financial aid options and collect as many funds as possible. Once you know how much money you'll be receiving, make a solid plan for repayment after graduation. It is possible to pay for college on your own, so don't give up!