Investigations by many experts over the years show that the typical person will change their career anywhere from three to seven times in their life. What that means is that the career you start in likely won’t be the one you retire in. If you’ve been thinking it’s time for a career change yourself, but you don’t have the money you need to go back to school before you write it off completely it would be a good idea to look at your options further.
College and university are both very expensive options, but thanks to the different options available to students, it may be more affordable than you thought.
Grants and Scholarships
One of the best options is to apply for a grant or scholarship. What this means is that you will be awarded a specified amount of money to put towards your tuition. Because this money isn’t a loan and doesn’t need to be paid back over time, it really provides you with a stress-free way to follow your career dreams.
Nowadays there are all kinds of businesses, organizations, and even individuals who are offering these scholarship opportunities. A great example is the Walmart scholarships that are meant for those who work for the company and have a GED or home/high school diploma. Walmart awards the winner with up to $16,000 spread out over six years, which can make a big difference in your out-of-pocket costs. Of course, this is just one example of the many scholarships available today.
Grants work much the same in that they are awarded to the winners and the money doesn’t have to be paid back.
Financial Student Aid
The federal government also provides aid of its own through the financial student aid program. This aid can be used for career school or college. The government currently awards over $120 billion per year worth of loans, work-study funds, and grants spread out across 13 million students. This aid is meant to be used for tuition, room and board, transportation, supplies, and books.
Whether or not you will need to pay back this money depends on the type of aid you receive. With a loan, you are borrowing from the government, so it will need to be paid back. A work-study program will have you working and earning money that goes towards paying for school. With a grant, the money is awarded to you and you won’t need to pay it back.
Financial Aid through Major Banks
There are a variety of banks that also offer private student loans. Keep in mind you will need to pay this money back and there will be interest charged on the loan.
Don’t Write It Off
Thanks to the many financial aid options available to students, there is no reason why you should be writing your career dreams off simply because the schooling is expensive. Instead, spend some time researching your options so you can find a path that works for you.