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Question for the Money Doctors

Question submitted on Aug 14, 2013.

Question

I am 27 years old and I am transferring for the University of Houston. I have an A.S. from Lee Jr. College. I have all my semester paid for except for $1800.00. I need to find a help for this balance. It is due by August 21. Could you suggest any possible sources.

Thanks

Answer

I assume the $1,800 is the remaining balance from Lee Jr. College? If you can''t pay it right now, please go to the Financial Aid Office or the Cashier''s Office to figure out a payment plans. If this is for the University of Houston, they have a very helpful financial aid office to help you figure out how to pay the tuition.

There are different types of financial aid available for you to pay the tuition and college costs. Please schedule an appointment with a Financial Aid Officer to see what is available to you.

They will first tell you to complete the FAFSA form. You can do this online at http://studentaid.ed.gov/fafsa

You may be eligible for Need Based Aid which is based upon your income and assets.

You may be eligible for Merit Based Aid which is also known as Scholarships. Please spend some time on the Scholarships page of the University of Houston website.

There are links to all kinds of scholarships. Sometimes scholarship grantors get no applications.

If you are currently working, check with your employer to see if you qualify for any tuition reimbursements.

There is a lot of money out there to help students fulfill their college educations. Take advantage of them.

Please consider all this before taking on student loan debt. Unfortunately too many students go straight to student loans before consider other sources of financial aid. Please do not make this mistake.


For additional information visit http://www.360financialliteracy.org/