5 Tips to Pay Your Own Way through University

Finding a way to pay for university tuition and maintenance fees can be a real struggle. With prices growing higher each year, paying your own fees as you go along can seem like an impossible task. However, there are ways in which you can help yourself get ahead and by taking one or more of these tips on board you may be able to leave university with zero debt.

1. Get a Job

The most common way students are able to pay for their own fees is by having a part time job while at university.

Some students find the right balance between studies and working by moving certain things around in their schedule.

Working evenings and weekends is likely to be the best option, allowing you to concentrate on your studies during the day and working during your free time. CCJM, for example, can help you to find a job in a call centre which is ideal for students because the hours are often flexible and the pay is quite good.

According to www.thisismoney.co.uk, 48% of all UK students have a job ‘mainly for the purpose of aiding them in funding their studies.’

2. Apply for Scholarships

A scholarship will usually pay for all of your university fees so that you get on with your higher education experience without coming out with tons of debt at the end of it all.

It is important you research potential scholarships that you could be eligible for before attending university. Many students end up in financial debt when they leave college because they were simply unaware of their eligibility for certain scholarships.

Putting money into a piggy bank

You have nothing to lose by applying for them and an acceptance will mean not having to worry about paying back any student loans.

3. Start Saving Early

In order to get a head start it is best to start saving for university as early as possible. Open a savings account while you’re still in high school and add to it as much as possible.

A summer or part-time job can go a long way towards increasing your university savings so that by the time you are ready to begin, you will already have a good amount saved in the bank to help you to pay yourself through college.

If you can present the idea to your parents, ask them about starting a 529 plan. According to Castle Wealth Management, 529s are tax-advantaged savings plans that encourage saving for education costs.

4. Avoid Unnecessary Purchases

It can be easy to be tempted into buying something that you really have no use for. Its better to save money to help pay your tuition fees by avoiding pointless purchases.

A woman holding shopping bags

A lot of students eat cheaply to help them save money as well as seeking out bargains and great sales. If you live with a group of friends then you can all save money by splitting the grocery bill.

5. Sponsor and Fundraising Events

Many students have begun organizing fundraising events to help them pay for their steep university fees and if they’re lucky they might even get a sponsor.

According to the Independent, ‘dozens of firms and public bodies fund students through university or college in the hope that they will cling on to the high-fliers of the future.’

Not only will a sponsor help to keep you out of debt after you leave university they will also continue to help you even after the funds are paid for with ‘sponsored graduates receiving a salary £750 above average on graduation’.

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