Get Financial Ready for College
Congratulations! You’ve worked hard, applied and have been accepted to college. Now how do you pay for it? Members Trust can help you plan for your future, so you don’t graduate with a ton of student loan debt. Here are a few ideas to get financially ready for college.
Scholarships & Grants
Scholarships and grants are available for every type of student and should be at the top of your list when deciding how to pay for college. This is “free money” that doesn’t have to be repaid!
Your first stop should be to complete the 2019 Members Trust Scholarship application. If you are a high school senior or a college student enrolled in an undergraduate program, don’t miss the opportunity to earn FREE money toward your continuing education expenses! Download the 2019 academic scholarship application and view the eligibility requirements. Completed scholarship applications must be returned to Members Trust Federal Credit Union on or before Wednesday, May 1, 2019, to be eligible for consideration.
Also, check out TuitionFundingSources.com to learn about other opportunities.
Start Saving Early
For parents with young children, start a Coverdell Education Savings account today. The earlier you start, the more you can accumulate.
There are a variety of ways you can pay for college and that includes working part-time in high school and college to defray some costs. In college, there are lots of job opportunities so be open to working part-time.
A big mistake that parents make is thinking they won’t qualify for financial aid because they make too much money. The Free Application for Federal Student Aid (FAFSA) is a form that is prepared annually by current and prospective college students to determine eligibility for student financial aid. Fill out the FAFSA and see what happens.
If you’re considering student loans to help pay for school, you’re not alone – many students need loans to cover college expenses. If need student loans, compare your options between both federal and private student loans to find the loan that best meets your needs.
Keep Costs Down
There are lots of ways you can save some money including:
- Do well in your classes so you don’t have to repeat.
- Take courses at a local community college.
- Ask for student discounts.
- Live at home to eliminate housing costs.
- Attend a state school or community college.
Establish your Credit History
Before you head off to college, make sure you’ve got a savings, checking account and a credit card (with a small limit) set up. We can help with all three. These help establish a credit history and teach money management skills. You can do everything online or via our mobile app and mobile deposit so it’s super easy and convenient.
For many people, how to pay for a college education is one of the first major financial decisions they’ll make. We’re here to help.