College costs are on the rise and have been for decades. The thought of paying for college can be overwhelming. Today about 70% of students graduate with student loan debt. There are a few things that students can do to plan out financing higher education.
Start Saving Early
Start setting aside funds for future college students as soon as possible to alleviate the high costs. Bridge offers a variety of savings account options to help get you started. You can learn more about them here: https://www.bridgecu.org/saving/
Attend an In-State Public University
Average tuition cost for in-state universities is around $10,500 compared to out-of-state which is nearly $30,000. Another advantage to attending college in your home state is that students can potentially cut out room and board costs by living at home with parents. You can check out a full list of public universities in Ohio by clicking here.
Earn College Credit Before College
Some high schools offer courses that allows students to earn college credits while still in high school. There are also PLA’s (Prior Learning Assessments) which allow students to skip courses if they are able to pass an exam proving their level of knowledge is up to par in subjects such as math and English.
Apply for Scholarships
Scholarships are a great way to help with financing a higher education. You can put together a list of scholarships that you would like to apply for just by doing an online search. Right now, Bridge Credit Union is accepting applications for the 2021 Joseph W. Gentry Scholarship. Any member or dependent of a member at Bridge Credit Union who is furthering their education is welcome to apply! This year – we are asking that you show us or tell us what you see as the future of credit unions. Do you see something more technology based? Or do you prefer traditional branch locations providing in-person service. Let us know! Two $2000 winners will be announced in May. The deadline to apply is April 30, 2021. What are you waiting for? Get started now.
Even with saving ahead of time, attending an in-state public university, earning college credit in high school, and applying for scholarships – students may still be in need of funding. Bridge Credit Union offers a variety of student loan options. Take a look at student loan options here: https://www.bridgecu.org/student-loans/
Graduating high school and moving on to a college education to prepare for a career is an exciting time. Although costly, earning a degree is a worthwhile investment.