If you have a child that is going off to college, then you may be paying for some or all of their tuition. When an unexpected expense comes up and you find yourself in need of emergency cash to pay for your child’s tuition, there are options out there to consider.
Financial aid (FAFSA), scholarship programs, and student loans are an obvious place to start. For those who need cash right away, an emergency loan from a private lender may be the right option. Below you’ll find more information on the different cash options available so you can pay for your child’s tuition.
Financial Aid through The Department of Education and Scholarship Programs
For many college students and their families needing tuition assistance, FAFSA is the first place that provides financial aid, in the form of grant funds, as well as federal student loans. The funds from student grants or loans can be used for all kinds of school related expenses like course materials, room and board, and even transportation–in addition to tuition. Along with that, scholarship programs or grants can be found online through many platforms. Here is more information on FAFSA:
In order to be eligible for FAFSA/federal financial aid, a student will have to have full time or part time enrollment (this will vary from one college student to another). In general, the free application for federal student aid needs to be filled asap, starting the month of October (before the spring semester begins for the school year) and must be submitted to the school(s) financial aid office(s) before the annual deadline. As the parent or guardian, you can fill out the form for your child.
For those with low income, or other financial needs may be eligible for financial grants, while other students can borrow federal funding in order to pay for their college tuition.
Keep in mind that with the impact of COVID/coronavirus pandemic there may be additional funding through the Cares Act.
Federal Work-Study provides part-time jobs for graduate and undergraduate students with financial need, allowing them to earn money to help pay education expenses.
Scholarships and Grants
There are all kinds of scholarships and grant programs provided by schools, nonprofit organizations, businesses/corporations, and institutions that college students can apply to. Eligibility can be based on all kinds of traits or accomplishments for continuing college students or for those right out of high school.
A quick good search can help you or your child find programs to apply to. Once eligible the financial assistance may be sent straight to your school. or sent to the student. Keep in mind that there are continuing scholarships, however, the smaller ones will be for a one-time tuition payment.
Lowering the Cost of a Child’s School Tuition with the College/University
Here are a few options to consider which you and your child can work out with the college being attended:
Consider School Options to Lower Tuition Rates
One easy way to cut down on tuition rates is to look into community colleges, or public schools/universities which offer classes at a fraction of the cost of private school tuition. And even while going to community college or a public school a student can apply for financial aid and or scholarships. Many students out of high school are choosing to go start higher education through these low-cost alternatives, and then transfer during their junior or senior year.
Apply for Teacher Assistance Programs
If your child is a graduate or doctorate student, they can apply to teach part-time for tuition assistance. Many grad students take this on as it can be a huge impact on tuition, along with that, it is experience.
Payment Plans with the University/College
Another option to consider is to talk to either your school’s financial aid office or billing office for payment plan options. The earlier that a payment plan is set up, the lower each installment will be. Most universities and colleges offer these payment plans.
A Private Loan for Emergency Cash to Pay for a Child’s School Tuition
For those who cannot wait and apply for assistance, a loan from a private lender may be your best option. Here are a few loan options that may work:
- Student Loans—there are many private lenders out there that choose to focus on just student loans, while others may provide all kinds of lending. However, keep in mind that these come with high-interest rates, but repayment can be put off until graduation.
- Personal Loans—most people have heard of and used personal loans for all kinds of expenses. If you have good credit you will likely be eligible and can look forward to a fair interest rate.
- Credit Cards — if you have a credit card you can use, it may be a good option for an emergency tuition payment.
- Title Loans — title loans use the borrower’s vehicle as collateral. Because of this, credit history is not a huge factor for approval.
- Payday Loans—payday loans use the borrower’s paycheck to secure funds. When taking out these loans it is important to know about their high-interest rates, and that you may have to approve a one-time transaction from a bank account.
- Home Equity Loans— home equity loans use the borrower’s home as collateral. Due to the value of a home, these loans can be used to cover a large expense.
Start with Max Cash Title Loans for Emergency Cash to Pay for a Child’s Tuition
If a title loan sounds like the right option for your emergency cash needs, start with Max Cash Title Loans. At Max Cash Title Loans, we are the #1 nationwide title loan marketplace. This means that we have done all the hard search work, and the vetting process. And have a marketplace to compile a list of affordable, flexible, and reputable lenders. 4
Here is how easy the title loan process is when working with our team:
1) Get into contact with us—the first step is to reach out and complete a short title loan application.
2) Discuss details with a loan agent—once submitted, a loan agent will review your form, and get into contact with you to discuss the next steps. If you want to move forward send in some documents, and they will work to find the perfect lender. 5
3) Find out approval—after submitting some documents, you’ll find out eligibility and loan details. You can then decide to move forward.
4) Get the funds— once approved with a lender, the funds can be made available via MoneyGram, sent to your bank account, or sent through the mail as a check. 1 2 5
And so, as you can see the title loan process is fast and easy. Here is what documents you’ll need when applying:
- A Gov Issued Photo ID
- The Car’s Title
- 3 References
- Proof of Income
- Proof of Residency
- Car Insurance
- Several Pictures of the Vehicle
If you need more information on title loans, how they work, or on Max Cash Title Loans, text or call us directly at 855-561-5626 Or head to our FAQ page for answers to common questions.
Apply for the Emergency Cash to Pay for a Child’s Tuition
As tuition costs rise in the United States, more and more parents are having to help pay their child’s tuition. The good news is that there is federal aid in the form of grants and loans, scholarship opportunities, payment plan options, and teaching programs that can help cover the various costs of attending college. For those who need funds right away, a loan from a private lender may be the quickest and easiest option. When beginning with title loans, start with Max Cash Title Loans, we have helped over thousands of people get the emergency funds they need, and we could help you too. 5 To get started with an online title loan, simply head to our website and fill out an online title loan application. Once approved for a title loan, the funds can be made available for use in as little as 24 hours. 1 2 5