A student can try his/her best to support the financial condition of his/her family, which will help the family improve their affordability for the education. Therefore, an aspiring student must find a job. However, an earning beyond a certain limit will decrease the student’s financial aid eligibility. The maximum limit is $7,000 – and even a single dollars earned beyond the $7,000 limit will decrease the financial aid by 70 cents/dollar (as per the federal aid formula).
We have already mentioned in the previous chapter that higher grades or a higher score in the entrance examinations can save you thousands of dollars. Most Ivy League colleges grant aid based on the needs (they consider the estimated family contribution). However, if you are a great scholar, you can get grants, scholarships, assistantships on the basis of your merit. It will greatly contribute to the reduction of the cost of education.
Some colleges offer full scholarships to students who have a GPA of 3.5 along with the SAT SCORE OF 1900 or more.
Prepare for the Entrance Examination
The latest studies show that enrolling in a preparation course will help you raise your scores. Every ten-point increase can help you in securing some amount of aid, and it will make you a more desirable candidate in the eyes of the Financial Admission Officer.
The most recent studies demonstrate that enrolling in a preparation course will provide you some assistance with raising your scores. Each ten-point increment can spare good number of dollars, as it will make you a more attractive applicant in the eyes of the Financial Admission Officer.
Advanced Placement Test
If you qualify through the advanced placement test, then you can win credits without paying for the educational cost charges. These credits are called as AP credits. Most schools acknowledge AP credits, however, some colleges don’t accept the AP credits.
You must do a detailed research and find out about the list of universities that accept the AP credits. Your secondary school can help you in joining the AP courses, and finding the universities that accept the AP credits.
In order, to get the CLEP credits (College Level Examination Program) you have to pass the CLEP exams. There are about 33 different types of CLEP exams, which are recognized by 2900 schools and universities.
The CLEP exams are similar to the AP exams, and the CLEP Credits are acknowledged by most schools. However, there are some college that don’t accept the CLEP credits. There are 33 different types of CLEP exams, and every test will cost around $80.
Part- Time School
Most schools allow needful students to attend the school on a part time basis. This helps the students make additional money to sustain their education cost.
The following points should be noted-
- The student loans become due after you stop attending classes for 6 months. So, taking too much time off between classes will require the student to pay off loans.
- You should at least maintain 50 percent attendance, as an attendance less than 50% will reduce the chances of getting financial aid.
- High paying jobs can work against you as the chances of financial aid are drastically reduced. You need to consult your financial aid officer regarding the amount of money that you should earn to keep your chances of the financial aid intact.