Financial aid can make your school or college affordable and help you pay your fees. With psychology scholarships, work-study programs, educational grants and low-interest loans, you can graduate college without any real debt. According to data from APA’s Center for Workforce Studies, nearly 78% psychology students report some debt after completing their graduation program. The debt is lesser in case of students focused on research due to additional academic sources support. But it doesn’t have to be that way for you.
When you are studying psychology, you can finance your education through varying psychology scholarships and financial aids available to psychology students. The money for these aids usually comes from the following sources.
- US federal government
- State government
- College you attend
- Non-profit and private sources
As a college student, there are numerous things you can do to lower your cost of living. If you combine that with possible education aid, you will graduate from college without any real debt.
Financial Aid from US Federal Government
The US federal government offers numerous education aid programs to help students pay for their education.
You may qualify for a federal aid program if you fall into any of the following category.
- Military service
- Spouse or child of a veteran
- Current or former foster care youth
- Community service with AmeriCorps
Even if you don’t qualify for any of the above categories, there are number of grants, loans and work-study programs that you can undertake to pay for college.
The US Department of Education alone grants above $150 billion a year for students who need help to support college education. This massive grant helps nearly 15 million students every year. This federal aid covers various college expenses as listed below.
- College tuition
- College fees
- Allowance for cost of housing and food during college
- Books for college
- Education supplies
How to Apply for Federal Financial Aid?
It’s easier than you think. You can apply using the Free Application for Federal Student Aid. It takes only a few minutes and it could solve all your financial problems while you are studying psychology.
Other Sources for Educational Financial Aids
If you can’t get into a federal financial aid program for education, there is still hope. You can qualify for a grant, scholarship or a low-interest loan from your state, college or a private non-profit organization. Here is what to do.
- Contact your state agency immediately and see if it is accepting applications for any college tuition program.
- Search for grants and scholarships that your state may be offering for residents.
- Visit your college and ask for financial aid programs. Alternatively, you can visit college website and search for financial aids.
- Consult your psychology department about availability of scholarships and grants.
- Search the internet for non-profit organizations that may have scholarship programs
for low-income students. You may qualify for one of these programs since they usually look after students who are not covered by federal or state funding.