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How Can I Afford College

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Scholarships are the easiest way to afford to go to college. Some awards may be enough to pay for tuition, room, and board if you meet specific requirements.

You don’t need to be an athlete to earn a scholarship. High-performing academic students, merit awards, and community service work can help you reach your dream of earning a degree one day. Get Into Your #1 College With

If you didn’t get that scholarship, you could still attend your dream college without taking on significant debt by pursuing these alternative funding methods.

Who Wants to Pay $45,000 (or more)per Year at a Private College?

Did you know that attending a private college will cost about three times more than going to an in-state institution in the United States?

The median cost of tuition, room, and board for private colleges was $53,980, while in-state students at a public institution paid $26,590. That means you could be paying 1-5 years of your future salary now to get a degree that comes with an uncertain future.

Those costs have risen by over 20% in the past five years.

These options can help you to pay for your future opportunities without draining your savings account. From Planning to Paying for College, Check Out Nitro College Today!


A grant provides money that you don’t repay. Many get awarded based on your financial needs from the information reported on your FAFSA. The government, some states, and numerous colleges offer these funds to keep the costs down, creating something like a sliding-scale approach to what you’ll pay.


Everything is negotiable when talking about your college costs. You can ask about work-study programs, tuition reductions, or even free room and board when talking with an admissions specialist. If your financial situation changed recently, that information could be a bargaining tool to use. Your FAFSA is based on the reported income from the previous year.

Tax Credits

Students in the United States receive up to a $2,500 tax credit when paying for tuition or other schooling costs. Income limits apply to this amount. If your parents still claim you as a dependent, they’ll receive the benefits.

Community College

The quality of a community college education shouldn’t have the negative stigma it has in some societal segments. You can save significantly by taking your first two years of courses at a local institution. The average person saves about $16,000 during their undergraduate studies when taking this route without affecting the value of the degree earned.

AP (Advance Placement) or Dual Enrollment 

AP (advance placement) or dual enrollment classes can be a great way to earn college credit while in high school.  Depending on your high school, these course offerings may have little or no additional course.  Talk to your guidance counselor to learn what is available at your high school.  Want to know more about AP, check out our article.

Find an Investor

Instead of taking out a loan, find an investor who believes in who you are and what you can accomplish. This person pays for all of your college costs in exchange for a fixed income percentage from your future paychecks for a set number of years. Having this obligation is different than taking on debt that keeps building interest. It’s more of a royalty payment.

As college costs continue to rise, parents are draining 401(k) accounts, tapping into savings, and even taking mortgages out on their homes. When you have these strategies available to pursue, those expenses become more manageable.

Start Early with an IRA

You can put money in a ROTH IRA starting at birth and have enough money invested by the time you go to college to pay for it. Some education expenses can be paid for tax free and penalty free with an IRA. See your financial advisor for more info on this. See our article. 

If you are looking for more college tips, visit us at our home page here.

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