6 Ways To Raise Funds for Your Education Expenses
Receiving an education in Australia can be costly. From high school expenses right through to earning that coveted university, college or TAFE degree, you’re paying every step of the way. While most people seem to get through school without too many financial hiccups, paying for university or undergoing some other form of adult education can be expensive, often putting it out of the reach of many.
There are ways to raise funds for your education expenses though. We’ll cover a few ideas in this article so you don’t have to compromise on your education.
#1 – Government Assistance
These days the Australian Government offers a number of assistance programs to help Australians study and embark on their chosen career paths. What assistance (and how much) you are eligible for will depend on your circumstances, but if you are planning to get a diploma or degree, it’s well worth checking out the government’s Study Assist page.
A number of government loans only require you to repay the money after you’ve completed your studies and are gainfully employed.
#2 – Work and Study At the Same Time
Possibly one of the most common ways students manage to get through their university years is to combine study with one or more part-time jobs. While it can be a lot of hard work, having a steady job whilst completing your education allows you to cover your expenses as you go, or enables you to save money to pay off any government loan much faster once your studies are completed.
The added advantage of having a job is you’re already gaining valuable work experience and will have more to show on your resume. Working and studying also proves to future employers that you’re dedicated and motivated.
#3 – Apply for An Education Loan
This option is not about applying for a government loan, but rather a loan from a bank or other financial institution. When it comes to Education Loans, Australia offers quite a few options. You need to do your research to discover which firm offers Education Loans in Australia and to determine the best education loan interest rate.
Private lenders have some very good offers when it comes to Education Loans and if you only need to borrow a small amount, you have this option with a private lender.
Shop around for Education Loans and take your time choosing the right lender, one that suits your individual circumstances best.
#4 – Study Scholarships
It’s definitely worth taking the time to see if you qualify for a study scholarship, as a scholarship will fund at least a decent portion of your education expenses.
Study scholarships are offered by the Federal and State Governments, universities, trusts and charities, community organisations as well as private enterprise.
In order to qualify for a scholarship – whether through a government department or another source – there will be eligibility criteria that varies from place to place. Once again, research is the name of the game. There just might be a scholarship you qualify for.
#5 – Try a Fundraiser
This is not an option everyone would think of using when it comes to raising funds for your education expenses, but it’s a valid idea nonetheless.
Sometimes people associate fundraisers with charities, but there’s absolutely nothing wrong with trying ways to raise funds for your education expenses. There are quite a few fundraising sites online, so you could try one of those, or you might be able to organise some sort of event in your area to raise funds. Perhaps a local business could sponsor your event?
#6 – Get a Traineeship Or Apprenticeship
This option offers a valid alternative to having to raise funds for education in order to enter a trade. Instead of studying at an educational institution, you might be able to land yourself a traineeship or apprenticeship where your education takes place in the form of on-the-job training.
It’s not an option for every career choice, but certainly exists for trade work and the hospitality industries, among others.
This article has scratched the surface on options available to you to fund your education so you can have the career you’ve always desired. All options are valid possibilities, but an education loan is a more guaranteed way to get the money you need, when you need it.