Have you thought about going back to college but were worried about the cost? Taking out student loans can be intimidating, and some people may not want to incur that kind of debt. Maybe you want a career change or something that will help you obtain a more stable job. Going back to school shouldn’t be a financial stressor. A1 Cash has some simple ways to help you cut costs of going back to college.
Check with your employer
Depending on your company’s benefits, your employer may offer tuition assistance. This can be an ideal way to take college courses for cheap or even free. Federal law allows employers to offer tax-free assistance for education of up to $5250 a year. Check with your employer’s human resources office to see if they offer this benefits, and to learn more about the process.
Check out community colleges
When it comes to getting a degree, you don’t have to seek out the most prestigious and expensive universities. Community colleges offer Associate degrees and certifications that may be just what you need to land that dream job or advance your career. Nowadays, even community colleges offer online courses, which makes taking college courses while working full-time a reality.
Take advantage of tax breaks
Uncle Sam may be able to help you when it comes to going back to school. The IRS offers various education breaks when filing your taxes. To learn more or to see what qualifies, contact a tax professional or consult with the IRS directly.
Use a 529 Plan
A 529 Plan allows you to set aside tax-free money to use towards future educational costs. This savings can be used for your kid’s college tuition or even your own. There is no set limitation on who in your family can use it. Plus, if you end up not using it all, you can transfer the funds to another beneficiary such as your child or grandchild.
The Pell Grant is offered by the government to those who qualify based on income, and household size. The maximum amount allowed is currently is $5920, but not all applicants may receive the full amount. The amount you receive is based on your income, household size, the school you attend, and how many classes you plan to take. The full amount, however, is generally enough to cover classes at a community college, leaving you with little to no out-of-pocket expense. The best part of the Pell Grant is that it does not have to be paid back.
Apply for Scholarships
A lot of people do not realize that there are literally thousands of scholarships available. While each one has their own submission requirements, you are sure to find some that are a great fit for you. Take advantage of this free money available. You can speak with your school to find out how to search and apply for legit scholarships online.
Whether you are in school or not, sometimes you may find yourself short on cash, scraping by until payday. If you are in need of a payday loan or check cashing services, visit us at A1 Cash on 1945 Northwest Broad Street in Murfreesboro, TN, or call us at (615) 895-6446. You also can apply online today for a payday loan at www.a1cashadvance.com.