How to Fund your Education

The benefits of a college education are numerous. So, it makes sense that most high school graduates would like to continue their education. Financing an education can be a bit overwhelming. However, there are many ways to finance your education. Money is one of the primary barriers to returning to college. Although much financial aid information is geared for high school students and their parents, there are no age restrictions attached to most tuition assistance.

You'll find that financial aid, whether based on need or merit, takes several basic forms. Scholarships are gifts that individuals receive from private institutions. These gifts do not need to be repaid. Grants are often from the federal government. Like scholarships, these do not need to be repaid. Student loans are either private or federal. These loans must be repaid. Work-study programs are given to students with financial need. Universities often encourage work-study programs because of the positions’ subsidization. Tax credits are available for tuition paid as well as interest paid on student loans.

Most aid is provided by the government, but there are also many private sources of funds. They take a little more research and the funds are typically in smaller amounts, but the requirements are often more flexible than those for government-sponsored programs.

There are many places to look for financial aid information. You should always start with your school. It is also a good idea to check with your employer whether there is any tuition assistance available for employees. If you know the field you'd like to pursue, look for associations in your field. There are many industry-specific scholarships designed to encourage non-traditional students to enter the field. You should also explore local grants available through community associations and the Chamber of Commerce.

International students can get comprehensive information on how to obtain scholarships, loans or grants for study in the U.S., at eduPASS. This site also contains much useful general information for international students wishing to study in the U.S. You can search for available international student grants by field of study at International Education Financial Aid (IEFA).

Another opportunity to explore: a Department of State Fulbright grant. There are 5,000 grants issued every year under the Fulbright program to enable U.S. and international students to study at a graduate level in other countries. Grants must be applied for through the Binational Commission or U.S. Embassy in your country, listed at Foreign Fulbright Graduate Student Program.

You can get financial aid information for the health field from The Bureau of Health Professions website. You'll find a listing of grants and loans available to students in the health professions, including veterinary medicine and nursing. The financial aid is administered through your school, but you can find out what's available and what the eligibility requirements are here. No matter your intended degree, financing your education can be much simpler than expected.