Paying For College Using Stimulus Package Educational Funding - Is It Possible?

Although it is often a mythical consideration

, it is possible to receive enough money through a variety of sources to pay for college without having to take out student loans were used up all of the money that your parents have set aside. You can apply for a variety of grants and scholarships to help pay for college. The question is, is it possible to utilize the stimulus package to pay for college as has been widely publicized? Here are a few reasons why this may be possible.

The federal stimulus package is directly related to the Pell Grant which has been in existence for decades. The cost of college has risen greatly, sometimes as much as three times its original cost only a few years ago. Large universities have nearly doubled their tuition, making it nearly impossible for the average person to attend the finest institutions. However, in regard to federal funds paying for community colleges, this is possible for the following reasons.

Two-year colleges are typically much cheaper than four year universities. State colleges are still relatively affordable, but if you want to use the federal grant money to the best of your ability, you are better off to use it in a two-year community college because of the following reasons.

First, the cost of attending is so much cheaper. There is no tuition to pay for. The cost of each unit per each class may only be a few dollars opposed to a few hundred dollars as you will find that state colleges and major universities. Although the cost of living may still be high, it is probable that there are many community colleges in your area which would allow you to stay at home and go to college without having to make a move which would require finding a place to live and being on your own.

Second, most colleges offer online classes. Although it varies, some of them allow you to attend their college without having to pay a tuition fee because you are out of state or simply taking the World Wide Web version of their college programs. This will save you time and money and will be well within the budget of any federal aid you receive.

Finally, the amount of the Pell Grant has actually risen to over $5000. If the cost of attending a college in your area is only $2000, then you will have $3000 left over not only for personal expenses but it can be saved for future college expenses which will increase as you pursue higher degrees.

Therefore, the stimulus package through the federal grants offered can't pay for a college education at least up to a bachelors degree. By using your money wisely, staying near home, or taking online classes, you can literally pay for a college education with the educational funding provided by the government.

by: Michael Kohler

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