Discover the Benefits of Tuition Waiver Programs
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What Is a Tuition Waiver?
Differences Between a Tuition Waiver vs a Scholarship
Does This Count as Financial Aid?
How to Go About Getting a Tuition Waiver
Demonstrated financial need. Schools may offer tuition waivers to students whose families have a household income under a certain threshold or who aren’t getting parental assistance paying for school. Employment by the school. Some colleges offer tuition waivers to employees who work at the school and would like to earn their undergraduate or graduate degree there. Academic achievement. Schools might offer tuition waivers to students with an excellent academic record from high school to incentivize them to enroll. Exceptional circumstances. Students who grew up in foster care or have a disability, for example, may qualify for a tuition waiver. Native American ancestry. Some schools offer tuition waivers to Native American students. Veterans. If you or your parent served in the military, you might qualify for a tuition waiver.
Colleges that Offer Tuition Waivers
California university system: California offers a tuition waiver at the State of California Community College, California State University, and University of California campuses for certain dependents of veterans. University of Connecticut: If one of your parents works for UConn in certain approved departments, you may qualify for a tuition waiver. Texas A & M: This school offers tuition waivers for a variety of reasons, including waivers for adopted students previously in foster care, blind and deaf students, and firefighters taking fire science courses. North Dakota State University: This school offers undergraduate tuition waivers to students based on academic achievement, as well as cultural diversity tuition waivers to students who come from certain underrepresented groups. Massachusetts university system: Massachusetts offers a categorical tuition waiver at state schools to qualifying students with financial need. University of Texas at Austin: This school offers various waivers, including Competitive Scholarship Waivers, Economic Development and Diversification Waivers, and Waiver for Faculty Members, Teaching Assistants, and Research Assistants and their Dependents. Nonresident students and international students are eligible.
Additional Funding Options for College Tuition
Savings. If you or your family have any savings for college, such as savings in a 529 education plan, you could put those toward your tuition bill or living expenses. Scholarships. Pursue scholarship awards to earn money for college that you don’t have to pay back. Grants. You might also receive a federal, state, or college grant. While scholarships are often based on merit, grants — including the Pell Grant — are usually awarded to students with financial need. Work-study or another part-time job. Earning an income while you study could help you pay for living expenses. Remote jobs can be good options for busy college students. Federal student loans. If you need additional funding, consider borrowing a federal student loan from the U.S. Department of Education. These loans have relatively low, fixed interest rates and are eligible for a variety of repayment plans. Private student loans. Borrowing from a private lender is also an option. Rates and terms will vary by lender, and you (or your cosigner) will need to meet the lender’s requirements for credit and income to qualify.
3 Student Loan Refinance Tips
Refinancing your student loan can lower your monthly payments and help you adjust your loan term. Compare student loan refinancing rates to find a loan that works for you. Paying extra each month on your student loan can reduce the interest you pay and so lower your total loan cost over time. (The law prohibits prepayment penalties on federal or private student loans.) If you teach full-time for five complete and consecutive academic years in a low-income school, you may be eligible for federal student loan forgiveness.
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