According to Education Data, American parents save $5,143 annually for their kid’s college, on average. Without this parental support, paying for college can feel out of reach. However, each year, thousands of students pay for college on their own, successfully utilizing a variety of resources to support them.
Here’s how you can pay for college without your parents’ help.
#1: Start Saving Early
While there are a variety of recommendations regarding how much to save, the approaches may not be feasible if you are paying for college on your own. So, rather than focusing on saving a certain amount, focus on saving as much as you can. Consider picking up a side hustle or part-time job prior to college to provide you with an additional income.
If you are in a position where you are unable to direct any income towards saving for college, don’t worry — you aren’t out of luck. While helpful to have some cash to put towards college, it isn’t a make-it-or-break-it factor.
#2: Utilize AP Classes
As a high school student, you may be offered the opportunity to take AP courses. While these courses require additional labor, they can save you thousands of dollars if counted for college credit.
What are AP Credits?
The Advanced Placement (AP) program was created by the College Board to provide high school students the opportunity to take college-level courses and earn college credit for doing so. The program offers a wide variety of courses, from AP English Language and Composition, to AP US History, to AP Psychology.
At the culmination of each course, AP students are offered the option to take the AP exam. If you score sufficiently on it, you could gain college credit and skip the equivalent course in college. Skipping the equivalent college course could allow you to graduate early, which in turn could save you thousands of dollars in tuition and fees.
How Much Can AP Credits Save You in College?
The amount of money AP credits can save you varies greatly depending on the courses you take, the school you choose to attend, and the major you decide to enroll in.
Each school will have its own unique AP credit policy. So, while some schools may only accept 5s on the AP exam (the highest you can score), other schools may accept 3s and up. Likewise, some programs may require you to take all of the major courses at the school itself, which could discount your AP credit. Let’s break this down with an example.
Let’s say you apply to the University of Connecticut.
If you take the AP English Language and Composition exam, you will only be eligible for the equivalent UConn course credit if you score a 4 or 5. However, if you took the AP Calculus BC exam, you would only need to score a 3 to be eligible for the equivalent UConn course credit.
If you do earn a qualifying score, though, you would earn anywhere from 3 to 6 credits on average. At UConn, 15 credits is the average semester course load. So, if you took 5 AP courses throughout your high school career and earned qualifying scores on all exams, you may be able to knock an entire semester off of your college career at UConn.
At UConn, out-of-state tuition is around $20,000 per semester. So, in theory, the AP credits could save you nearly $20,000.
While this will change from school to school, the same idea applies. Depending on the courses you take, the school you attend, and your AP score, you could save a decent chunk of money.
#3: Be Strategic About Which School You Choose to Apply To
The cost of college will differ greatly depending on the type of school you choose to attend. For example, while the average cost of a 4-year in-state public institution is $25,487 per year, the average cost of a full-time in-district community college program is $3,730 per year.
When paying for college without your parents’ help, you may find more affordable college options more appealing. Consider the average cost of each college program when deciding where to apply.
Likewise, consider the application fees of each school. To avoid paying hundreds of dollars in application fees, narrow down your list of schools to the ones you could truly see yourself attending. For the ones you do apply to, contact the school directly to ask about an application fee waiver. Many schools waive application fees for students like yourself who are navigating the college process without parents.
The latest rates from Sparrow’s partners
If you want to skip pre-qualification and apply directly with a lender, you can do so by clicking Apply below.
#4: Apply for Scholarships
Scholarships are essentially free money. (Yup, money you don’t have to pay back.) So, it’s recommended that you exhaust all scholarship options before considering student loans.
Throughout the search process, you will encounter a variety of scholarship opportunities, such as academic scholarships, private scholarships, institutional scholarships, and need-based scholarships.
To find scholarships to apply to, consider the following sites:
- Sallie Mae’s Scholarship Search Tool: While Sallie Mae is one of the most well-known private student loan companies, they also offer a robust scholarship search engine. After registering, the engine will send you customized scholarship recommendations based on your profile.
- Scholarships.com: As one of the most established scholarship websites, Scholarships.com has reported nearly $19 billion in scholarships, making it a great place to search for and apply to scholarships.
- Chegg.com: Chegg is well-known for its textbook rental service and homework help, but it’s also a great resource for scholarships. Chegg offers over 25,000 scholarships and tutors to help review your scholarship essays before you submit them.
- Fastweb.com: Fastweb has over 1.5 million scholarships in its database and will send you personalized application recommendations based on your profile. The platform will even email you when deadlines are approaching so you don’t miss any opportunities.
- Niche.com: Niche.com is known for providing insight on colleges and universities from over 140 million real reviews and ratings. However, the site also offers a wide variety of scholarships, using a similar matching process as other platforms.
- Cappex.com: Cappex database holds over $11 billion in scholarship opportunities and allows you to narrow your search based on a variety of factors.
#5: Apply for Financial Aid
If you are an independent student, you do not need your parents’ information to apply for federal student aid through the FAFSA. If you are a dependent student, however, you will need your parents’ information to complete the form.
Dependent vs Independent Student
For financial aid purposes, you are considered an independent student if you are at least one of the following:
- At least 24 years old
- A graduate/professional student
- An orphan or ward of the court
- An emancipated minor
- Married
- Someone who is homeless or at risk of being homeless
- Have legal dependents (children)
- Have a dependency override from a financial aid administrator with proper documentation
If you are at least one of the above, you are considered an independent student. To see what federal financial aid you qualify for, complete the FAFSA.
If you do not identify with any of the above, you are considered a dependent student. If able, you should complete the FAFSA with your parents’ information. You will need information such as:
- Social Security Numbers
- Tax information
- Family income information
- Records of untaxed income
- Information on any financial assets you or your parents may have
If you are considered a dependent but obtaining that information from your parents is not possible for whatever reason, you should consider filing for a dependency override. A dependency override allows you to file as an independent despite being considered a dependent by the above criteria. You can file a dependency override for the following reasons:
- An abusive family environment (ie. sexual, mental, physical, or other forms of domestic violence)
- Abandonment by parents
- Incarceration or institutionalization of both parents
- Parents lacking the mental or physical capacity to raise a child
- Parents cannot be located
- Unsuitable household (ie. child is removed from the home and placed in foster care)
- A married student’s spouse dies or gets divorced
Filling out the FAFSA can provide you with access to thousands of dollars in financial aid. Make sure to complete the form as soon as you can after the October 1st open date.
#6: Compare Aid Offers Carefully
Without financial support from your parents, finding an affordable school will likely be a top priority. So, when you receive financial aid packages from each school, be sure to compare the aid offers carefully.
Start by writing down the following information for each school:
- The cost of attendance
- The free aid you won’t have to pay back (ie. scholarships, grants, etc.)
- The cost to attend after subtracting the free aid
- The aid you would have to pay back (ie. any federal student loans you were offered and any private student loans you would need to take out)
For example, let’s say you applied to the University of Connecticut, Eastern Connecticut State University, and the University of Bridgeport as an in-state student. You also won $6,000 total in private scholarships — one $5,000 scholarship and one $1,000 scholarship. Comparing aid offers may look like:
School
Raw Cost of Attendance Per Year
Free Aid Given by the School and Outside Sources
Cost of Attendance After Free Aid
Aid You Would Need to Borrow and Pay Back
University of Connecticut
$36,012
$5,000 – Private scholarship
$1,000 – Private scholarship
$31,012
$5,000 in federal student loans
Remaining balance: $26,012
Eastern Connecticut State University
$26,738
$5,000 – Private scholarship
$1,000 – Private scholarship
$5,000 – Institutional scholarship
$15,738
$5,000 in federal student loans
Remaining balance: $10,738
University of Bridgeport
$35,760
$5,000 – Private scholarship
$1,000 – Private scholarship
$4,000 – Institutional scholarship
$6,000 – Institutional scholarship
$19,760
$5,000 in federal student loans
Remaining balance: $14,760
*For the sake of this example, the cost of attendance metrics used are for an in-state, on-campus student. The other metrics are random numbers just used to illustrate the concept.
Comparing the offers side-by-side will allow you to see which school is most affordable. In this example, you can see that while the University of Bridgeport offered more scholarship money than Eastern Connecticut State University, the difference in tuition still makes ESCU more affordable. Make sure to compare your aid offers carefully to determine which school is best for you financially.
#7: Don’t Be Afraid to Ask For More
It never hurts to ask for more financial aid, especially if your parents are claiming you as a dependent student but not helping you pay for college.
To appeal your financial aid, simply submit a financial aid appeal letter to the school’s financial aid office. Make sure to address the financial aid director by name, be polite, and provide appropriate documentation. You can use a financial aid appeal letter template to craft your letter.
#8: Use Savings First
When it comes time to actually confront the bill, dip into your savings first only if you have an emergency savings set up.
Most financial professionals recommend an emergency savings that is at least 3 months of your typical expenses. So, if you know you typically spend around $1,500 per month, you’ll want to have an emergency savings of $4,500.
While putting some of your savings towards your college education is helpful, you should not do so at the expense of putting yourself in an unstable financial situation. If you do have savings, however, consider putting what you can towards your tuition bill.
#9: Consider Student Loans
While helpful, student loans should be somewhat of a last resort as you will have to pay them back with interest.
First, look at the federal student loans offered to you in your financial aid package. Federal student loans will typically have lower interest rates than private student loans as well as more flexible repayment terms.
If you were not offered federal student loans, or if federal student loans do not cover your remaining balance, consider private student loans. If you are applying without a cosigner, you will likely need a strong credit score to qualify on your own. If you don’t have a strong credit score, consider non-cosigned loan options.
The most efficient way to find a student loan option that you pre-qualify for is to use Sparrow. Sparrow allows you to compare loan options from 15+ premier student lenders in one place. This allows you to rest assured knowing you found the best loan option available to you.
Student loan rates from our partners
Ascent
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 12/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 12/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
LendKey
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
Earnest
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
College Ave
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 12/2/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 12/2/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
#10: Get a Part-Time Job or Side Hustle During School
Picking up a part-time job or side hustle can help you pay for college expenses such as books and other course supplies during the school year. Depending on how much you’re able to bring in, you may be able to pocket some of the money to pay for the following year’s tuition. Reach out to your school’s office of student employment to inquire about on-campus positions, or consider off-campus positions that may pay more.
#11: Ask for Help
Paying for college without your parents’ help may be overwhelming, but know that there are resources available to help. If at any point you feel confused about the next step or how to handle a certain aspect, ask for help.