With the current expenses of education, it may initially seem daunting to dedicate time and finances to college. Online learning provides an accessibility to education that can turn your financial situation around both during and after receiving a degree. Here’s how.
In today’s world, diversity is key… especially when it comes to your finances. If you want to improve your finances with online learning, look to marketability, financial aid, scholarships, grants, transportation, room and board, food costs, time savings, student discounts and savvy use of student loans to get you started. Read the full story to learn more.
See the Details to Get Your Started Below.
Having a degree can make you more marketable to employers. By earning college credits through online courses, you improve your chances of finding higher paying jobs. Also, you can learn other valuable skills that might look impressive on your resume.
2. Financial Aid
Filling out a FAFSA form for financial aid can take some of the weight off a college bill. As an online student or an adult who has been out of school for years, you can still qualify for several forms of government financial help.
There is a scholarship for almost everything you can think of if you know where to look. Websites like Fastweb show scholarship opportunities for all kinds of college applicants. If you see something that interests you, go for it!
Grants are a type of financial aid, but unlike loans, you do not have to pay them back. One of the most well-known is the Federal Pell Grant, which qualifying students receive after completing the FAFSA form. Grants like this and the Federal Supplemental Opportunities Grant depend heavily on the state of your income and dependency status.
Whether you commute or live on campus, transportation to and from a school can become a heavy expense. However, the convenience of working online can save you money on car gas or airfare. Cutting down on travel time can save you hundreds of dollars over the course of the year.
6. Room and Board
Online education can, in some cases, nearly cut your college bill in half. A good portion of the expenses cut come from room and board, which can add thousands of dollars to your bill. You might just be better off living at home with regular living costs.
7. Food Costs
Another large expense in college is food. Students who live at school often have meal plans, which can cost more on a long-term basis than buying and eating your own food. No meal plan is necessary if you take your classes remotely. Since you get to plan your own schedule, you might even be able to get paid to eat by joining a mystery shopper program.
8. Saving Time for Other Responsibilities
Having to go sit in a classroom for half your day can soak up your time — time that might be better spent on other responsibilities. If you have children or pets, or you need to hold down a job while you go to school, the flexibility of online learning can be much more accommodating to your schedule. That means you have time to work, but can also dive into new financial endeavors.
9. Student Discounts
Your student ID is your friend. Sometimes restaurants, stores, and other establishments offer discounts to college students. While you’re taking classes, you may find it useful to keep your ID with you to save cash when you go out.
10. Cutting Down on Student Loans
The more money you save while taking online classes, the fewer loans you have to take out. This can benefit you in the long run since many students leave college in debt. With the help of low educational costs and other potential financial help, you may be able to minimize the need for loans so you can enjoy a debt-free life after school.
The price of a good education can present challenges, especially if you have other duties in your life. An online degree can save you time and money while giving you the power to establish a well-paying, satisfying career. Invest in your education, and you’ll be well on your way to stable finances and a happier lifestyle.