Going back to college is a sure-fire way to increase your prospects in the working world. More and more employees have degrees, and competing with them will be difficult, unless you have similar or better qualifications. All entrepreneurs know this but it’s the cost of going to college that puts many people off pursuing this path. College fees are expensive but there are options to secure funding. That’s right, you don’t have to dip into your business accounts, as the following are some of the other options you have.
Sell Your Life Insurance Policy
If you have a life insurance policy, you already have a means to find ready cash that will pay for some, if not all, of your college education. Life insurance policyholders can sell their policy for a lump sum that they will receive immediately. The investment of a college education and the advantages it brings in future employability will make it a worthwhile option to consider. If you have any questions about how to sell your life insurance policy, you can take a look at a guide online that tells you everything you need to know. You’ll learn all about the process and the steps that are involved.
Working While Studying
It will be a lot of hard work and late nights combining college with work, but you can certainly pay off a big chuck of the fees by taking on some extra hours. Find a part time job that fits in with your college schedule and you will be able to bring in a bit of extra cash each month. Working will also give you a sense of independence and may even leave you with a bit of excess cash each month to spend on miscellaneous items. During term time there are always places looking for students to work part time so finding a job shouldn’t be difficult.
Scholarships and Grants
Take time to look for scholarships and government grants. The money you receive through scholarships and grants usually doesn’t have to be paid back, so you are essentially getting free education if you can secure funding. Finding these grants may take some time and you may face some rejection but it is worth putting the time and effort in now so you can pay less fees over the duration of your studies.
Probably the most obvious option, and the most common route for funding higher level education. Banks offer loans to students to pay their fees, but you have to pay it back along with any interest it incurs. You can contact banks and see if they offer loans that are suitable for you, but be aware that once you leave college you will begin to pay it back, so it is one of the more costly alternatives.
Have Your Employer Pay for School
If you are already working, ask your employer if they are prepared to pay for your education. Companies like to see their employees improve and the investment of paying for further education will be in their benefit long term. Some workplaces will also offer jobs that involve you getting your degree before starting to work, or working initially on a part time basis, which will give you both knowledge and experience.