Moving into a dorm can be an important part of a college education. As a parent or guardian, you may be taking on the costs. If you need emergency cash to pay for a child’s move to a dorm, and an unexpected expense comes up, you may be thinking about emergency cash to pay for a child’s move to a dorm. The good news is that there are several options that are out there, some of which could help you get the funds you need to help pay for your child’s university/college stay.
One place to start is going to be with federal student loans and financial aid. Other options include scholarship programs or grants. For those who need the cash right away then an emergency loan from a private lender may be the best option.
Below you’ll find out more about all these options to help your college student get the most out of higher education.
Financial Aid/Federal Student Aid and Federal Student Loans for Emergency Cash to Pay for a Child’s Move to a Dorm
No matter what college or university your student is attending, it will be a good idea to apply for financial aid. With financial aid, the student will not have to pay back what is given to them. The amount your child will receive will be based on things like your income, other economic factors, and most importantly the amount of funding that is left. This is one huge reason to apply for financial aid ASAP, as there is a yearly budget.
In general, an application for financial aid can be filled out in the fall, before an academic year begins. Federal financial aid and federal grant money can be available for undergraduate students, graduate students, and even P.H.D students. Contact the school’s financial aid office for help or questions related to FAFSA (the free application for federal student aid).
Another option to consider is federal student loans from the department of education. These are another important tool when trying to get funds to pay for your child’s college. Federal student loans are available for undergraduate, graduate, and doctoral students, and come with a really good interest rate. To top it all off, you don’t have to worry about paying them back until after graduating, and repayment with these loans tend to be extremely flexible. One example of this would be the deferment of these loans during the coronavirus pandemic.
Scholarships and Grants to Cover the Cost of Dorm Rooms
Scholarships and grants are available for all kinds of students, across the country. Eligibility for some, are merit-based, while others may focus on things like providing opportunities to minorities, the student’s major low-income families, and even more niche categories. For many scholarships, the student will have to fill out an application and may be required to provide additional supplements, such as an essay.
When it comes to grants, they may be a one-time amount or an ongoing scholarship program for each school year.
Federal Work-Study Programs for Emergency Cash to Pay for a Child’s Move to a Dorm
Work-study are assistance programs that provide students with part-time jobs (on campus or off campus), while they go to school full time. In exchange for work they get tuition and stay reimbursement.
When applying for FAFSA/federal loans, you can also apply for work-study. In general, those who are low income/ are in financial need will be eligible first.
Options to Work out with the Educational Institution
Depending on how much time that you may have for your child to move into their dorm/start their program, there may be a few options that you can consider, to help pay for their living expenses, and even tuition:
RAs or Resident Advisors take care of the needs of the other students in their dormitory. In exchange for this work, they get either free housing or discounted dorm room stays. Most of the time anyone can apply to be an RA, and so, your child can consider it to take care of those living expenses.
Community Colleges/ State Universities
Community colleges and state universities are often much cheaper when compared to private colleges. And so to save on tuition and room and board, if you have time to think about alternative enrollment for your child, consider alternate school options.
Payment Plans with the School for Emergency Cash
Many schools have payment plans for tuition and for dorms/room and board. Usually, colleges have installment plans for their students to make things more manageable.
Consider Off-Campus Housing
Off-campus housing can sometimes be more affordable than on-campus dorm living. There may be off-campus apartments, the option of commuting from home, and even online learning.
Take Out a Loan for Emergency Cash to Pay for a Child’s Move to a Dorm
For those who need emergency cash right away, a loan option may be the right option. Here are a few loan options to consider for emergency cash to pay for a child’s move to a dorm:
- Student Loans—many private lenders offer student loans. The funds from the loan can be used for tuition, school supplies, health care needed for enrollment, and room and board.
- Title Loans—title loans, also sometimes referred to as car title loans, or auto title loans, work by using a borrower’s vehicle as collateral. The title loan amount will be based on the value of your vehicle, your ability to repay the loan, and your income. And so, having bad credit is okay for eligibility. Title loans work extremely fast, and once approved you could have the cash that you need as soon as the next business day.
- Personal Loans—personal loans are one of the most common kinds of loans in the industry, they can be used for almost any expense, the amounts for them vary quite a bit, and they have a wide range of repayment plans available for borrowers. For those with less than perfect credit, a secured personal loan may work.
- Credit Cards—credit cards work well for emergency travel expenses. One reason for that is most people already have a few credit cards they can use. If you have a good credit history generally interest can be fairly low, and repayment can be pretty flexible.
- Payday Loans—payday loans use the security of the borrower’s paycheck to make funding available. They can make funding happen very quickly, don’t require a good credit history. They are short-term (about 2 weeks long) and do have high-interest rates for the few hundred dollars that they make available.
Why Start with Max Cash Title Loans?
If a title loan seems like the right option for you, start with Max Cash Title Loans. At Max Cash Title Loans we are the #1 nationwide title loan marketplace. Instead of being a direct lender, we connect people with trusted lenders.
Here are a few benefits of working with us and the lenders that we work with:
- Competitive Interest Rates– the interest rates are always competitive, especially when compared to similar loans, and lenders in the industry! 4
- Flexibility with Repayment–repaying with a title loan with the lenders we work with is made to be simple and flexible. Borrowers have up to 3 years to repay their loans.4 Along with that, borrowers can make early payments without any fees or penalties. 3 4
- Fast Funding, Once Approved–another huge advantage is that once a person is approved, the funding could be made available in as little as 24 hours!1 2 5
- An Easy Approval Process–the process to apply through Max Cash Title Loans is super simple:
- You start by filling an inquiry form either online or by calling.
- Once you submit that info. a loan agent will contact you to help you move forward. 5 Then, you’ll provide some documents like a photo ID, proof of residence, proof of income, and your car’s title.
- Once you qualify, you sign the title loan agreement, you’ll get your funds!1 2 5
Apply for Emergency Cash to Pay for A Child’s Move to a Dorm
After the coronavirus pandemic, even with the coronavirus aid such as the CARES ACT relief fund and emergency financial aid through stimulus checks/cash grants for individuals, many families are having a hard time paying for necessities.
If you need emergency cash to pay for your child’s move to a dorm there are several options out there. Financial aid, federal student loans, options with the school, and loans. When looking for a title loan, start with the experts at Max Cash Title Loans. Head to our website and apply for an online title loan or give us a call at 855-561-5626.