How to Pay for College Without Parents

Find out how to pay for college if financial help from parents is unavailable.

How to Pay for College Without Parents
Giorgio Trovato

Paying for college is an overwhelming task for many students, but it becomes even more challenging when you don't have the financial support of your parents. While it may seem impossible, there are several ways to finance your college education without your parents' help. In this guide, we're going to outline in detail the various ways and means of paying for college without parents.

Not only are there a plethora of scholarships and grants you could win, but you can enroll in work-study programs and apply for tuition assistance programs. And, of course, as a last resort — or, perhaps, in combination with some other strategies — you can apply for student loans. 

Read on to learn some essential strategies for managing your finances while you're in college with the financial aid of your parents.

Apply for College Scholarships

Scholarships are a great way to pay for college without taking on debt. There are many different types of scholarships available, including merit-based scholarships, need-based scholarships, and scholarships for specific majors or fields of study. The key to finding scholarships is to start early and to do your research. Many scholarships have early deadlines, so it's important to begin your search as soon as possible. You can start by searching online databases, such as BrokeScholar’s database. You can also check with your school's financial aid office to see what scholarships are available. 

College scholarships come in all shapes and sizes. Here are some of the most common types of scholarships to apply for to attend college:

Merit-Based Scholarships

Merit-based scholarships are awarded based on a student's academic achievements, such as their GPA, SAT or ACT test scores, and extracurricular activities. These scholarships are often offered by colleges and universities, as well as private organizations. The amount of money awarded for merit-based scholarships can vary widely, with some scholarships offering just a few hundred dollars, while others can cover the full cost of tuition and fees.

Need-Based Scholarships

Need-based scholarships are awarded based on a student's financial need. These scholarships are often offered by colleges and universities, as well as private organizations. To qualify for a need-based scholarship, you'll typically need to demonstrate that you come from a low-income family or have significant financial need. The amount of money awarded for need-based scholarships can vary widely, with some scholarships offering just a few hundred dollars, while others can cover the full cost of tuition and fees.

Athletic Scholarships

Athletic scholarships are awarded to students who excel in a particular sport. These scholarships are often offered by colleges and universities, and the amount of money awarded can vary widely depending on the school and the sport. For example, a Division I football scholarship could cover the full cost of tuition and fees, while a Division III cross-country scholarship may only offer a few thousand dollars.

Arts Scholarships

Arts scholarships are awarded to students who excel in a particular art form, such as music scholarships, photography scholarships, or architecture scholarships. These scholarships are often offered by colleges and universities, as well as private organizations. The amount of money awarded for arts scholarships can vary widely, with some scholarships offering just a few hundred dollars, while others can cover the full cost of tuition and fees.

STEM Scholarships

STEM scholarships are awarded to students who excel in science, technology, engineering, or math. These scholarships are often offered by colleges and universities, as well as private organizations. The amount of money awarded for STEM scholarships can vary widely, with some scholarships offering just a few hundred dollars, while others can cover the full cost of tuition and fees.

Organizations That Award Scholarships

There are many organizations that award scholarships, including corporations, foundations, and nonprofit organizations. Some of the most well-known organizations that award scholarships include the Coca-Cola Scholars Foundation, the Gates Millennium Scholars program, and the Jack Kent Cooke Foundation.

Potential Highest Amount of Scholarship Money

The potential highest amount of scholarship money a student could win varies widely depending on the type of scholarship and the organization that awards it. For example, some full-ride scholarships can cover the full cost of tuition, fees, room, and board, while others may only cover tuition and fees. In general, the potential highest amount of scholarship money a student could win is likely to be in the hundreds of thousands of dollars.

Apply for Grants

Grants are another way to pay for college without taking on debt. Like scholarships, there are many different types of grants available, including federal grants, state grants, and institutional grants. Federal grants, such as the Pell Grant, are need-based grants that are awarded to students who demonstrate financial need. State grants are awarded to students who attend school in a particular state, and institutional grants are awarded by colleges and universities. To apply for grants, you'll need to fill out the Free Application for Federal Student Aid (FAFSA) and any other applications required by your state or school.

The Free Application for Federal Student Aid (FAFSA)

Filling out the FAFSA is an essential tool for students who want to receive financial aid for college. In this article, we'll explain the FAFSA process, including what it is, how to apply, and what information you'll need to provide.

What is the FAFSA?

The FAFSA is a form that students must fill out in order to be considered for financial aid from the federal government, as well as from many colleges and universities. This aid can come in the form of grants, scholarships, work-study programs, and federal student loans. The FAFSA is available for free on the Federal Student Aid website.

How to Apply for the FAFSA

To apply for the FAFSA, you'll need to create an account on the Federal Student Aid website. You'll then be prompted to provide some basic information, such as your name, date of birth, and Social Security number. After you've created your account, you can start filling out the FAFSA. The application consists of a series of questions about your income, assets, and other financial information.

Information Required for the FAFSA

When filling out the FAFSA, you'll need to provide information about your family's income, assets, and other financial resources. This includes your parents' income and assets if you're a dependent student. You'll also need to provide information about the colleges you're considering attending, as well as any scholarships or grants you may have received.

Deadlines for the FAFSA

It's important to note that the FAFSA has a deadline, and it's important to submit it on time to be considered for financial aid. The federal deadline for the FAFSA is June 30th, but many states and colleges have earlier deadlines. It's important to check with your college's financial aid office to find out their specific deadline.

How Financial Aid is Determined

Once you've submitted your FAFSA, the information you've provided will be used to calculate your Expected Family Contribution (EFC). This is the amount of money that the federal government believes you and your family can contribute towards your education. Your EFC is then used to determine your eligibility for federal and state financial aid.

Check Out Tuition Assistance Programs

Tuition assistance programs are designed to help students pay for college. These programs can come in many different forms, and they can be offered by a variety of organizations. In this article, we'll explore the different types of tuition assistance programs that exist, how they work, and how they can help you pay for college.

Employer Tuition Assistance Programs

Employer tuition assistance programs are one type of tuition assistance program that many people may not be aware of. These programs are offered by employers and are designed to help their employees pay for college. In most cases, these programs will cover some or all of the cost of tuition, and they may also cover the cost of books, fees, and other related expenses. To qualify for an employer tuition assistance program, you'll typically need to be a full-time employee and meet certain eligibility requirements.

Military Tuition Assistance Programs

Military tuition assistance programs are available to members of the military and their families. These programs are designed to help cover the cost of tuition, and in some cases, they may also cover the cost of books and other related expenses. To qualify for a military tuition assistance program, you'll need to be a member of the military or a family member of a member of the military.

Government Tuition Assistance Programs

There are several government tuition assistance programs available to students. The most well-known of these programs is the Federal Pell Grant program. Pell Grants are need-based grants that are designed to help low-income students pay for college. In addition to Pell Grants, there are also several other government programs available, including the Federal Supplemental Educational Opportunity Grant (FSEOG) program, the Teacher Education Assistance for College and Higher Education (TEACH) Grant program, and the Iraq and Afghanistan Service Grant program.

College and University Tuition Assistance Programs

Many colleges and universities offer their own tuition assistance programs. These programs may include scholarships, grants, and other types of financial aid. In most cases, these programs will be need-based, meaning that they are designed to help students who demonstrate financial need. To qualify for college or university tuition assistance programs, you'll typically need to fill out the Free Application for Federal Student Aid (FAFSA) and any other applications required by your school.

Working While in School

Another way to pay for college without your parents' help is to work while you're in school. Many colleges and universities offer work-study programs that allow students to work on campus and earn money to help pay for their education. Work-study programs can help alleviate the financial burden.

What is a Work-Study Program?

A work-study program is a type of financial aid that allows students to work part-time while attending college. These jobs are often on campus and can include positions such as administrative assistants, research assistants, and tutors. Work-study programs are typically offered through the federal government, but some colleges and universities also offer their own work-study programs.

How Work-Study Programs Work

Work-study programs typically offer students part-time jobs that are related to their field of study or other areas of interest. Students are paid for the work they do, and the money they earn can be used to pay for tuition, fees, and other college expenses. Work-study programs typically have a limit on the number of hours students can work each week, and the amount students can earn is based on their financial need and the available funding.

Benefits of Work-Study Programs

One of the biggest benefits of work-study programs is that they allow students to earn money to help pay for college expenses. Work-study programs can also provide students with valuable work experience that can help them build their resume and develop important job skills. Additionally, work-study jobs are often on campus, which can make it easier for students to balance their work and academic responsibilities.

How to Apply for a Work-Study Program

To apply for a work-study program, students must first complete the Free Application for Federal Student Aid (FAFSA). The FAFSA will determine the student's eligibility for federal financial aid, including work-study programs. If the student is eligible, they can then apply for work-study jobs through their college or university. Work-study jobs are typically listed on the college's job board or career center website.

Tips for Making the Most of a Work-Study Program

To make the most of a work-study program, students should be proactive in finding and applying for jobs. Students should also be sure to manage their time effectively to balance their work and academic responsibilities. Finally, students should be sure to communicate with their employer and supervisors to ensure that they are meeting expectations and getting the most out of their work-study experience.

Apply for Student Loans

If you're unable to pay for college with scholarships and grants alone, student loans may be your next best option. There are two types of student loans: federal and private.

Federal Student Loans

Federal student loans are loans offered by the government to help students pay for college. These loans typically offer lower interest rates and more flexible repayment options than private loans. There are two types of federal student loans: subsidized and unsubsidized. Subsidized loans are need-based and the government pays the interest while you're in school. Unsubsidized loans are not need-based and you're responsible for paying the interest while you're in school.

Private Student Loans

Private student loans are loans offered by private lenders such as banks, credit unions, and other financial institutions. Private loans are not backed by the government and typically have higher interest rates than federal loans. Private loans may also have less flexible repayment options than federal loans.

Advantages of Federal Loans

One of the biggest advantages of federal loans is that they typically offer lower interest rates than private loans. Federal loans also offer more flexible repayment options, including income-driven repayment plans that allow you to pay back your loans based on your income. Federal loans also offer forbearance and deferment options if you're unable to make payments.

Advantages of Private Loans

Private loans may offer higher loan amounts than federal loans, which can be helpful if you need to borrow a large amount of money to pay for college. Private loans may also have more lenient credit requirements than federal loans, which can be helpful if you have a low credit score. Finally, private loans may have more flexible repayment options than federal loans, allowing you to choose the repayment plan that works best for you.

Disadvantages of Federal Loans

One of the disadvantages of federal loans is that they may not cover the entire cost of attendance, especially if you're attending an expensive college or university. Federal loans may also have a cap on the amount you can borrow each year. Finally, federal loans may have more restrictions on how you can use the loan funds.

Disadvantages of Private Loans

The biggest disadvantage of private loans is that they typically have higher interest rates than federal loans. Private loans may also have less flexible repayment options than federal loans, which can make it harder to pay back the loan. Finally, private loans may have higher fees and penalties than federal loans.

When it comes to choosing between federal and private student loans, it's important to consider your individual financial situation and needs. Federal loans offer lower interest rates and more flexible repayment options but may not cover the full cost of attendance. Private loans may offer higher loan amounts and more flexible repayment options, but typically have higher interest rates and fewer borrower protections. Be sure to do your research and compare all of your options before making a decision.

Research Tax Credits for Education Expenses

There are tax credits available that can help reduce the financial burden. Below, we'll explore tax credits for qualifying college expenses, how they work, and how they can help students pay for college without the financial help of their parents.

What are Tax Credits for Qualifying College Expenses?

Tax credits for qualifying college expenses are credits that can be applied to your federal income tax return to reduce the amount of taxes you owe. There are two main tax credits available for college expenses: the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC).

American Opportunity Tax Credit (AOTC)

The American Opportunity Tax Credit (AOTC) is a tax credit available for the first four years of college. The credit can be up to $2,500 per eligible student per year and is based on the amount of qualified education expenses paid during the year. To be eligible for the AOTC, you must be enrolled in an eligible educational institution and be pursuing a degree or other recognized education credential.

Lifetime Learning Credit (LLC)

The Lifetime Learning Credit (LLC) is a tax credit available for both undergraduate and graduate students. The credit can be up to $2,000 per tax return and is based on the amount of qualified education expenses paid during the year. Unlike the AOTC, there is no limit on the number of years you can claim the LLC. To be eligible for the LLC, you must be enrolled in an eligible educational institution and be taking courses to acquire or improve job skills.

How Tax Credits Help Pay for College

Tax credits for qualifying college expenses can help reduce the amount of taxes you owe, which can provide some financial relief when it comes to paying for college. For example, if you're eligible for the full $2,500 AOTC, you could reduce your tax bill by that amount. If you don't owe that much in taxes, you may be able to receive a refund for the difference.

How to Claim Tax Credits for Qualifying College Expenses

To claim tax credits for qualifying college expenses, you'll need to file a federal income tax return and complete the appropriate forms. You'll need to provide documentation to support your claim, such as receipts for qualified education expenses. Be sure to consult with a tax professional or use tax preparation software to ensure that you're claiming the credits correctly.

Budgeting and Managing Your Finances

Finally, effectively managing your finances is essential while you're in school and paying your way without the financial assistance of parents. Make a budget and stick to it and avoid taking on unnecessary expenses. Consider living off-campus to save money on housing and other living expenses. Use credit cards sparingly and always pay your bills on time to avoid damaging your credit score. And don't forget to take advantage of any student discounts that are available to you.

The Bottom Line on Paying for College Without Parents

Paying for college without your parents' help may seem like an insurmountable challenge, but it's vital to remember that there are many resources available to help you. Scholarships, grants, and student loans can all be used to finance your education, as well as work-study programs and some financial savviness, such as qualifying for tax credits on your educational costs. 

Andrew DePietro

Author: Andrew DePietro

Senior Researcher, and Content Strategist

Andrew DePietro is a finance writer covering topics such as entrepreneurship, investing, real estate and college for BrokeScholar, Forbes, CreditKarma, and more.