How to Pay for College

How to Pay for College

To get a good or great-paying job, one must go to college and graduate from your chosen course. It’s critical to future success and career stability though this is not the only way.

But the problem is that college is expensive and many people have to work already from an early age as they’re studying.

Don’t lose hope, however, as you can find a solution for it—a door to your further education. And so here we will list some ways through which you can pay for college.

1) Scholarship


If your academic record is consistently excellent or your talent is in a certain sport, you might be eligible for a scholarship to your preferred college.

Look around for scholarships offered by different organisations, such as the government, schools, companies, and charity groups.

Each scholarship has its particular terms and conditions, and you have to know them, lest you overlook or not be able to fulfil one important detail. For example, the award may come with a bond.

Also, it’s not the smartest people who always get scholarships. With proper preparation, it’s enough to be knowledgeable of the application process and ready for the interview.

2) Grant


Grants are almost the same as scholarships. They’re also granted by profit and non-profit organisations, companies, educational institutions, trusts, and foundations.

Their only difference is that scholarship is based on your merits like academic awards and extra-curricular groups you’ve joined, while grants look mainly at your needs. For example, they may consider you if you’re financially deprived.

However, if you apply for a college grant, the funding organisation can also enquire about your academic performance, athletic record, special seminars attended, and community involvement, among other things.

3) Bursary


Bursaries focus on your financial need as well rather than your academic standing. There’s often no need to apply for it, and you won’t have to compete with others to get this award.

Some people interchange the terms grant, bursary, and scholarship given their common grounds. Still, as you can see, they’re different from each other, albeit only a little.

4) Student Loan

Student Loan

If the three things above don’t work for you, then you still have hope to study in college in Malaysia. And for that, you have to apply for a student or education loan.

A student loan gives you a longer repayment period compared to a personal loan. But you need a guarantor for this, which in your case, can be your parent or guardian.

Some students, however, have parents or guardians that have difficulty supporting them financially. So the government, a financial institution, or an organisation may still grant them a loan despite that.

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