• Frank Font

Paying Off College

Updated: Jun 16, 2021

Most people’s method of paying for college is to take out a loan or through scholarships. The issue I had with scholarships is that if you are not getting them directly from the college you attend it will be difficult to win ones that require an essay or are in the form of a contest. This may have only been for me, but if you are going to use this method, I would advise that you start applying well before you start college as soon as you become eligible. A suitable method would be to get a job during high school for the two or three years during the weekend or over summer. If you have 90 days of summer and 36 weeks during the school year, then you should have 72 days over the weekend. That results in 162 days that you would have each year to gather the funds each year without affecting your studying. That would result in about $11,664 before taxes if you were to get paid 9 dollars per hour and worked 8 hours each day. At the end of high school, you would have $23,328 assuming that you were able to work for two years before graduation. While I was at UF my two biggest costs were health insurance and room and board which was roughly $7,000 each year; since my tuition was paid for through Bright Futures, I will not take that into account in my math. Then let us say that you must stay for the last 2 summers of college which will mean you are able to work another 180 days which results in $12,960. That results in a total of $36,288. That would cover the cost associated with room and board and insurance over the 4 years of $28,000.

Was I personally able to do this, no; I instead decided to buy a car for senior year. That ended up wasting more than half of the money I had saved up by the end of high school. If I had a redo I would have definitely not purchased the car as that would have allowed me to worry more about my courses and not how I would pay for them.

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