College and University Blog
7 Ways to Pay for College without Student Loans
Just last week the U.S. Senate voted against a bill that would have extended the 3.4% interest rate on federal student loans for one more year. Because the bill did not pass, rates have doubled to 6.8 percent. The increase will most likely cause college students to pay thousands more in interest to go to college.
Parents of college-bound teenagers and the students themselves are stressed about the rising costs of college. Figuring out how to pay for college can be difficult, and many people turn to loans. Here are seven alternatives that might come in handy:
1. Take AP classes during high school.
Advanced Placement (AP) exams, created and offered by the College Board, cover college-level curriculum in a variety of subjects. AP classes that help prepare for the exams, which are held each May, are offered at high schools across the United States, but students are not required to take AP classes to sit for the exams. The exams are scored on a scale of one to five with five being the highest. Policies and minimum scores vary, but many colleges and universities grant college credit to students who earned a specific score on an AP exam. Eligible students are not required to take that class in college
Melissa Rhone+
Melissa Rhone earned her Bachelor of Music in Education from the University of Tampa. She resides in the Tampa Bay area and enjoys writing about college, pop culture, and epilepsy awareness.