So many teens today fresh from high school are contemplating on getting either a college scholarship grant or student loans. Student loans are like gold-plated jewelry, they look good at first glance but when you subject them to rigorous tests to see their real value, they have none. That is why I personally appeal to you students who are reading this article now to never get student loans; they are anything but a waste of your time. They’ll leave you in debt for the better half of a decade and all your hopes and dreams will get delayed as an unintended consequence.
Unfortunately, only 1 in 100 students get scholarship grants and in order to bridge this gap, you will have to be self-reliant and quick thinker if you want to survive. Others though try a different route in getting success, but don’t worry because I think that these tips will help you pay for your college and pursue your dreams in life.
Okay, so the first thing you need to do is to write 2-3 page essays asking for charitable institutions to give you a chance on that scholarship grant, IF you think you deserve it also. If that doesn’t work, then try the alternatives; we all know life is hard especially now since the world is still trying to get back on its feet after the 2008 global economic meltdown, so suck it up for a little while. You could get one or more of those short-term goal jobs like a bike messenger, coffee shop attendant, restaurant/fast food crew, flower shop clerk, gas station cashier etc.
You can also work off of those online jobs as a blog & article writer, social media marketer/manager, SEO specialist, IT specialist, graphics designer, accountant or bookkeeper and more! Starting a passive online business like affiliate marketing, retail store and a few others is also a good alternative as these things do not need 24 hour attention and you can leave them unattended and still earn. The goal is to keep yourself afloat financially at all times.
Create Multiple Income Sources
The above mentioned could be one of your many sources of income, the key is to maintain at least 3 of them, so you can pay for your college tuition fees, miscellaneous expenses, personal expenditures and emergency needs. For instance, you were able to secure 3 jobs and 2 businesses and all of them are web-based; you should make a monthly income of…
• Social media manager: $320 a week
• Web designer: $3,000 a month
• SEO specialist: $400 a week
• Shopify retail store: $5,000 a month
• Affiliate marketing blog: $1,000 a month
Total income: $11,880 which is more than enough to pay for your college tuition fees, personal and emergency expenses altogether. The average college student in America pays up to $80,000 a year in tuition fees and other school-related expenses. Your annual income is over $140,000 and if you paid your tuition fees in full, you should still have around $60,000 a year savings. You may outsource some of the jobs and so your net income after deductions should be roughly $40,000. Not bad for a self-reliant student!
Be Self-Sustaining Financially
If you’ll manage to keep this gig up all throughout your college years, then you’ll be well off becoming the next entrepreneur of the decade and serve as an inspiration to most people who hope to follow the same path as you did no less. However, we also know that in college there are lots and lots of distractions and if could be hanging out with classmates on weekends, drinking, partying, sleepovers, DUI and other vices. Still you have the power to say “No” and avoid these things as best as you can, of course, I’m not saying that you shouldn’t have fun in your youth but just don’t overdo it, because you’ll throw away your future if you’re careless. Sustainability does not only mean having the means to earn and save money for future use, but also maintaining and updating your income source regularly.
Write Down your Options and Plans after Graduation
One year before you graduate from college, write down what you plan to do afterwards. Decide which path you want to take. Will it be a job career or start your own business? List all advantages and disadvantages of the choices available to you before you decide, then ask opinions from your parents, siblings, friends and classmates. You could also take it a notch further and interview business owners or a career person in a company and ask them what made them decide to do what they did, so you’ll have an idea of what you’ll be getting yourself into.