The Three Ways to Pay for College

The Three Ways to Pay for College

Madagscar Penguins GIF - Madagscar Penguins IMakeMyOwnOptions GIFsWhen it comes to paying for college… you have three options.

That’s right: Three Options.

To be honest, most people preparing for college never think about it in this way… but after years of coaching students and their families I’m here to tell you it all boils down to these three:

You can either pay for it with your money, free money, or loans.

Let’s break these down and go over why this matters.


Paying for college with your own money means using… (wait for it)… YOUR money. This can either be in the form of cash from under the mattress, savings, and investment accounts, or other vehicles for your money 

While using your own money is great, there are two downsides:

  1. Once you use it, it’s gone. You can’t use it for anything else…
  2. Most people don’t have anywhere near enough saved up

As I’ve mentioned before, the average family has only $18,000 saved up for college. But most families don’t think about all the HIDDEN COSTS associated with college. Sure they think of tuition, but what about housing? Food? Books? Transportation? Etc. Most families have their entire college savings gone after the first semester, which means they start looking for the next source of money: 


Most families don’t focus on searching for FREE Money… until they realize that their personal money won’t cover the cost of college. They don’t start looking for other options until the problem is staring right back at them!

If you start looking for FREE money only after you realize your savings will run out, here’s the problem with this strategy: YOU’RE LATE.

Most scholarship granting organizations have already given out their awards for the year, and you are going to have to begin from scratch in order to find money… for the next year instead. Most schools giving out grants have early deadlines, and chances are you will miss them if you aren’t thinking ahead.

And so, if you don’t have enough personal money, and if you can’t get enough FREE money… your only option left is to take out:


Just One Limb For Every Academic Year GIF - StudentLoan JustOneLimbForEveryAcademicYear Loan GIFs

 And here is where our discussion really begins. You see, there are a lot of organizations out there (colleges, financial aid offices, the US Department of Education, Sallie Mae, etc.) that assume you will have no other option BUT to take out loans.

 They assume that you won’t have enough personal money, and they bet on the fact that you won’t have enough FREE money… and so they offer you loans.

 Did you know that? They bet…. They plan….they make financial forecasts …. Based on the fact that you won’t be nearly as prepared as you should be for college and so they make loans really easy to get! And they benefit from it nicely too.

 Did you know that student loan debt has surpassed credit card debt in the US?

A Slow Motion Car Crash 

Bad Driver GIF - BadDriver ModernFamily SarahHyland GIFs

And the sad part is, if you haven’t saved up enough (which is tough to do) and if you haven’t searched for enough FREE money (which requires a game plan and starting in advance) when the day comes to pay for college, you will have no choice but to take loans out. From my perspective, it’s like watching a car crash happen in slow motion.

 I see families who should have prepared years earlier start way too late and I know they will have to take out loans.

 That’s why I’m here to change this. I want to help you avoid loans as much as possible. I want you to have options! And to start learning how you need to watch my webinar on: How to Get FREE Money for College.

In my webinar, not only will you learn how to think differently about schoalrships, but I cover several strategies that really work.

So before you do anything else, sign up for my webinar here.

And after watching, get ready to feel like you've got this!

Excited Cheering GIF - Excited Cheering Yay GIFs

I’ll see you in my webinar!


The Top College Guru


50% Complete

Get New Strategies Each Week!

I'm always updating the blog with new posts FILLED with strategies and perspectives to help you succeed!