According to a study by the Center for Global Development (CGD), when the incomes of households decrease, the portion allotted for education likewise decreases. This often results in students having to drop out of school.
The Pew Research Center cites data from the World Bank showing that the global economy shrank by an estimated 4.3 percent in 2020. According to analysis from Pew Research Center, the middle class worldwide decreased by 54 million people in 2020 compared to the period before the pandemic. More people slid into poverty and the poor increased by 131 million people in the same time frame.
This does not bode well for students, especially those about to enter collegiate levels. In many poor families, high school education is the most that the family can support. A college degree is valuable, though, and leads to greater opportunities. A student with higher goals in life can find ways to continue schooling despite these financial challenges.
Getting a Scholarship
For students with good grades or excellent athletic abilities, getting a scholarship for college is the best option. In the final year of high school, the administration usually informs its best students and star athletes of available scholarship opportunities and how to apply for these. Recommendations from the faculty can likewise be sought.
A student must also actively search for other possible scholarship grants. Sometimes lesser-known scholarships are available not just in academic institutions but through other organizations and foundations, as well. It is best to explore local, regional, and even international prospects.
As early as grade school, students from low-income families can start preparing for college scholarships by studying diligently and keeping their grades up. Participation in worthwhile extracurricular activities will also provide a track record of leadership potential valued in scholarship screenings. Those who have an aptitude for sports can start training at a young age. The student must have a clear goal and determination to achieve it.
Finding Employment with a Company That Funds Tuition
Those who do not get scholarships can look for this opportunity. It may sound too good to be true but some companies pay for their employees’ college education or graduate studies on top of salaries. For instance, you can start as a clerk at the human resources department while taking your BA Psychology course funded by the firm. This usually entails signing a contract to continue working with the company for a specified number of years.
In the United States, some companies that provide full tuition benefits are Apple, Disney, Starbucks, Smuckers, and Papa John’s, as well as Boeing, InStride, and Discover. Many other companies provide partial tuition fee assistance and reimbursements. Look for references online and read through each company’s website for lists of benefits.
Flexible School Hours
Of course, the employer who pays for your education, whether in full or partially, expects that your schooling will not affect your regular work. You must look for a school with classes scheduled outside your work hours. It is best to find a school that allows you to create your schedule of classes. This is often possible with online schools.
Be a Working Student
If you cannot find employment in a company that agrees to pay for your schooling, you can find any alternative employment and be a working student instead. This means your salary must be enough to cover your tuition and other expenses. Again, this means that you can take classes only after work hours and you must find an online school that allows you to schedule your classes.
Your best choice is to find an affordable and flexible online school. Tuition fees in online schools are usually lower than those of traditional schools. You also save on transportation and other costs when you study online.
You must still research the various options for online schools and compare tuition fees as these can vary. One advantage is that you are not limited by location. You can choose the most affordable online school even if it is not based in your area.
Work Now, Study Later
If being a working student is not feasible, you can focus on working full time and saving for your college fund. Focusing solely on work can lead to better productivity and possibly higher pay.
Apart from accumulating funds, you will also earn valuable experience from working full time before college. This is the reason why some students who can afford to go straight to a university opt to take a year off instead. Exposure to a wider range of people and experiences builds maturity and more readiness for higher education.
Act now and you will surely succeed later. Whichever path you take now toward finishing the collegiate degree you are aiming for, will be your route to success.