Going to college is an expensive prospect that may require those who aspire for it to go the extra mile of raising additional funds to help in the financial requirements required of a college student.
Your son’s college education is a demanding endeavor that must be duly prepared for in terms of time and finances. In terms of finances, there are a number of options that your son may take. These may range from applying for scholarships to seeking student loans. Then again, this might not be enough to pay for his food and lodgings, so you need to find other ways of raising cash to help fund his college education. There are three options.
According to Forbes, if your home is already fully paid and not tied to a mortgage, you can again apply to raise funds for your son’s college education. The proceeds from such loan can go a long way, especially if you invest them in some good yield investments that could substantially increase over a period. If you have a pending mortgage, you may opt to refinance it instead, saving you hundreds of dollars every month that you can use to help pay for his education.
If money is an issue concerning your son’s college education, then you must discourage any thoughts about going to famous Ivy League schools. Try to settle for those that can provide quality education at an affordable cost. Furthermore, you might not know it, but there are states where your son can avail of free college education. The Wall Street Journal published a list of eight colleges where your son can avail of free education. The only thing that you need to do in this case is to raise funds for his food and lodging facilities.
Precious gems and metals can be a very big help to you in situations like this. If you have a diamond engagement ring stashed away in your closet that you do not wear regularly, perhaps it can be put to a very good use now. You can bring it to a diamond pawnshop and see how much money it can fetch if pawned. You can redeem it at some future point in time when things get better.
These three options can help you a lot when faced with the specter of having to dig deep into your pockets for your son’s college education. There are many other options available for you. You can try to compile all these options and see which of these can best help you on the issues surrounding your son’s college education.