5 Creative Ways to Fund Your College Education

Attending college is an exciting prospect. However, once the initial thrill subsides, parents and students are now faced with the challenge of dealing with a costly tuition bill. Fortunately, there are many avenues students can take to help cover this expense. Online portals like Scholly and Scholarship Canada help introduce prospective college students to a wide range of scholarships, grants, and bursaries prior to start of the new school year. In these instances, financial aid is awarded to individuals based on necessity, academic standing, volunteer experience, amongst other criteria.

You may also choose to reach out to the bank in order to fund your tuition. Students can save for their education by opening a Registered Education Savings Plan (RESP). An RESP account will accumulate tax-free interest and can remain an active account for up to 31 years.

Even if you happen to be the recipient of CIBC’s Canada’s Luckiest Student contest, or tuition is paid for by parents, a bank loan, or scholarship, there are still several expenses you will encounter as a student. Fortunately, there are plenty of opportunities to make extra cash without sacrificing too much time away from your studies.


5 Ways to Earn Extra Money in College

  •       Part-Time Jobs: One of the most conventional ways to earn a steady income is to secure a part-time job. Luckily, there are several positions available to students conveniently located on campus. For instance, students can apply for opportunities at the cafeteria, bookstore, or library. These jobs will also help build technical skills and provide valuable experience in the workplace.
  •       Buy and Resell Textbooks: Textbooks are costly but essential materials for academic success. Students who are looking to score a deal can help you earn quick cash by purchasing your used textbooks. At the end of each school year, you can buy textbooks from other students and resell these books to new students during orientation week. Through this method, you can potentially earn more money than reselling the same books back to the campus bookstore.
  •       Become a Tutor: If you excel in a specific subject, consider using your skills to help others and earn money for your services. There are many college students who struggle with understanding the course material and often require help outside of the classroom. Tutoring is an excellent opportunity to help a fellow student in need and to help sharpen your skills as a teacher.
  •       Delivery Services: If you own a car or bicycle, consider a job in food delivery. There are many opportunities for employment in this industry, as restaurants often employ students for their take-out services. While working in the kitchen or behind a cash register are valuable experiences, delivering food may help you earn more money as a result of earning tips on top of a regular wage.
  •       Sell Items Online: From electronics and used mobile phones to clothes and books, students can sell just about any old item using an online platform. Sites like eBay or Amazon make it easy to set up an account so you can begin to make money just sitting in your dorm room.
  •       Publish an eBook: College students have plenty of experience in researching and writing, making this an ideal option for students who are looking to bring in some extra money. For example, the Amazon Kindle store makes it easy for students of all skill levels to write and publish an eBook.

Experience in the Workplace Begins in College

It can be a challenge to juggle school, social and work commitments, especially for students who are entering their first year of college. This type of schedule takes a great deal of focus, dedication, and time management, but those who can master the formula will benefit in many ways. While earning an income is a significant advantage to working a part-time job during the school year, students also have the opportunity to learn valuable skill sets and gain experience in the workplace. By using a little creativity, you can make some extra cash while unlocking your own potential both inside and outside of the classroom.